Housing in 87941 Salem, NM is relatively inexpensive compared to the national average. The median value of a home in this area is $167,500, which is significantly less than the national median of $338,100. This makes 87941 an attractive option for those looking to purchase property. Furthermore, the one year appreciation rate of housing in 87941 is 9.54%, higher than the US average of 8.27%. As such, homes in the area are likely to increase in value over time. All things considered, 87941 offers great housing options at a fraction of what they may cost elsewhere in the country.
The median home cost in Salem (zip 87941) is $167,500. Home appreciation the last 10 years has been 56.6%. Home Appreciation in Salem (zip 87941) is up 12.5%.
Average Age of Homes
- The median age of Salem (zip 87941) real estate is 38 years old
The Rental Market in Salem (zip 87941)
- Renters make up 18.4% of the Salem (zip 87941) population
- 0.0% of houses and apartments in Salem (zip 87941), 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.