The housing market in Salem, IN is thriving and steadily increasing. The current median value of a home in Salem, IN is $162,600, which is far below the US median value of $338,100. However this gap has been closing rather quickly over the past year with an appreciation of 13.41%, much higher than the national rate of 8.27%. This suggests that now is a great time to invest in real estate within Salem, IN as prices are still low enough to offer room for further growth while providing considerable returns on investment in the short-term.
The median home cost in Salem is $162,600. Home appreciation the last 10 years has been 81.4%. Home Appreciation in Salem is up 15.2%.
Average Age of Homes
- The median age of Salem real estate is 53 years old
The Rental Market in Salem
- Renters make up 29.9% of the Salem population
- 0.0% 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.