The housing market in 36874 Salem, AL is very strong. The median value of a house in the area is $258,700, which is significantly lower than the US median value of $338,100. However, this is one of the main benefits to living in Salem; potential homeowners can buy more for their money. The appreciation rate for homes in Salem over the past year has been 11.26%, higher than the US national average of 8.27%. This indicates that investment in real estate in Salem could be a good long-term choice and bring great returns for potential buyers.
The median home cost in Salem (zip 36874) is $258,700. Home appreciation the last 10 years has been 66.2%. Home Appreciation in Salem (zip 36874) is up 13.5%.
Average Age of Homes
- The median age of Salem (zip 36874) real estate is 22 years old
The Rental Market in Salem (zip 36874)
- Renters make up 12.3% of the Salem (zip 36874) population
- 0.0% of houses and apartments in Salem (zip 36874), 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.