A typical Salem home is worth roughly $98,000
What kind of housing town is Salem?
Read from the numbers below. The page puts what stands out first.
A typical home costs 1.4 years of income
Less than across Illinois (3.6 years). Try your own numbers below.
That covers a typical Salem home, with $128K to spare.
A two-bedroom rents for about $1,010 a month here, $290 more than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Salem’s typical property tax (2.49% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
80% of Salem households own their home
Half of Salem’s homes were built before 1955.
Illinois: 67% own.
U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,010
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Knox County, IL): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Salem vs. its neighbors
Salem is the least expensive of 4 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Salem | $98K* | — | $1,010 | $71,250 |
| Farmington | $130K | +5.8% | $980 | $69,375 |
| Elmwood | $190K | +5.4% | $930 | $90,649 |
| Maquon | $145K | +19.2% | $960 | $66,447 |
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
Neighbors talk housing
What Salem buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.