The housing market in Salem, SD is flourishing. The median value of homes is $198,700, which is significantly lower than the national median of $338,100. Additionally, the house appreciation rate for Salem has been 12.74% over the last year – significantly higher than the national average of 8.27%. These figures show that Salem is an attractive place to invest in real estate and that it offers great potential for growth.
The median home cost in Salem is $198,700. Home appreciation the last 10 years has been 95.0%. Home Appreciation in Salem is up 18.1%.
Average Age of Homes
- The median age of Salem real estate is 55 years old
The Rental Market in Salem
- Renters make up 20.9% of the Salem population
- 6.2% 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.