The housing market in Salem, OH Metro Area is quite impressive. The median value of a house there is $126,200, which is significantly lower than the US median value of $338,100. This makes it an attractive option for those looking to purchase property at a more affordable rate. Additionally, the 1-year appreciation rate of 10.57% in the Salem area greatly exceeds the US rate of 8.27%, indicating that housing prices are on the rise and investing in real estate could be a wise decision for potential buyers. With its competitive home prices and excellent appreciation rate, Salem offers an excellent opportunity for prospective homeowners.
The median home cost in Salem Metro Area is $126,200. Home appreciation the last 10 years has been 72.9%. Home Appreciation in Salem Metro Area is up 13.9%.
Average Age of Homes
- The median age of Salem Metro Area real estate is 54 years old
The Rental Market in Salem Metro Area
- Renters make up 25.6% of the Salem Metro Area population
- 1.0% of houses and apartments in Salem Metro Area, 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.