The housing median value in 97304 Salem, OR is $450,500 which is significantly higher than the US housing median value of $338,100. This indicates that housing prices in the Salem area are more expensive than the national average. Furthermore, the US 1 year House Appreciation rate was 8.27%, but the House 1 year appreciation rate in 97304 Salem, OR was 9.26%. This means that housing prices have been increasing faster in 97304 Salem, OR than on a national level. Therefore, it can be concluded that investing in housing in 97304 Salem, OR could be a profitable opportunity as prices are likely to continue to rise.
The median home cost in Salem (zip 97304) is $450,500. Home appreciation the last 10 years has been 144.5%. Home Appreciation in Salem (zip 97304) is up 14.2%.
Average Age of Homes
- The median age of Salem (zip 97304) real estate is 32 years old
The Rental Market in Salem (zip 97304)
- Renters make up 32.2% of the Salem (zip 97304) population
- 1.1% of houses and apartments in Salem (zip 97304), 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.