The housing market in Salem, IL is booming. According to the latest figures, the median value of a house in Salem is $88,900 - significantly lower than the US median value of $338,100. However, what really sets Salem apart is its remarkable rate of appreciation at 18.28%, which far outpaces the national rate of 8.27%. This trend suggests that now is an excellent time to invest in or purchase real estate in this area.
The median home cost in Salem is $88,900. Home appreciation the last 10 years has been 43.5%. Home Appreciation in Salem is up 11.3%.
Average Age of Homes
- The median age of Salem real estate is 50 years old
The Rental Market in Salem
- Renters make up 29.2% of the Salem population
- 2.5% of houses and apartments in Salem, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.