Zip 62881 (Salem, IL) Housing

The housing market in 62881 Salem, IL is thriving. The median value of homes in the area is $110,500 compared to the US median value of $338,100. This makes living in 62881 Salem, IL much more affordable than the national average. Furthermore, the 1 year house appreciation rate in 62881 Salem, IL is 18.28%, which is higher than the national rate of 8.27%. This indicates that houses are growing in value at a faster rate than the national average and could be a great investment opportunity for potential buyers.

The median home cost in Salem (zip 62881) is $110,500. Home appreciation the last 10 years has been 43.5%. Home Appreciation in Salem (zip 62881) is up 11.3%.

Average Age of Homes

- The median age of Salem (zip 62881) real estate is 44 years old

The Rental Market in Salem (zip 62881)

- Renters make up 23.5% of the Salem (zip 62881) population
- 1.7% of houses and apartments in Salem (zip 62881), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Salem, Illinois	United States
	4,884.0	139,647,020.0
	46	42
	$110,500	$338,100
	11.3%	16.6%
	35.2%	57.0%
	43.5%	101.1%
	$18.82	$10.98
	$1,694	$2,690
	66.4%	57.4%
	7.9%	11.2%
	25.6%	31.4%
Vacant Housing
	1.7%	1.9%
	0.0%	0.4%
	0.0%	0.7%
	0.0%	0.4%
	0.2%	3.6%
	6.0%	4.1%
Value of Owner-Occupied Housing
	8.2%	2.6%
	8.4%	2.4%
	13.2%	2.8%
	14.4%	3.9%
	10.9%	4.5%
	19.4%	11.3%
	10.9%	13.0%
	9.4%	20.1%
	2.8%	13.6%
	1.3%	8.3%
	0.3%	9.7%
	0.8%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	9.4%	13.6%
	9.4%	13.6%
	12.1%	13.6%
	14.5%	13.2%
	19.6%	14.8%
	12.1%	13.6%
	12.7%	10.0%
	7.6%	4.7%
	12.7%	12.2%

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