A typical Salem home is worth roughly $225,000
Home prices around Salem have risen about 65% over the past 5 years.
What kind of housing town is Salem?
Read from the numbers below. The page puts what stands out first.
Home prices up 65% in 5 years
The federal house price index for the ZIP codes around Salem rose 65% over the past 5 years, faster than across Indiana (53%). Last year prices rose 7%. Carrying the Census median home value forward with that index puts the typical Salem home at roughly $225,000 today.
Carrying the Census median forward with the index puts a typical home at about $225K.
How Salem ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Salem, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A typical home costs 3.2 years of income
Less than across Indiana (3.6 years). Try your own numbers below.
That covers a typical Salem home, with $50K to spare.
A two-bedroom rents for about $990 a month here, $350 less than owning.
How Salem ranks on affordability →
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Salem’s typical property tax (0.83% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $990
Renters already here pay a median of $980.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Muncie, IN MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
81% of Salem households own their home
Half of Salem’s homes were built before 1966.
Indiana: 71% own.
U.S. Census Bureau, American Community Survey 2020-2024.
Salem vs. its neighbors
Salem is the 2nd priciest of 5 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Salem | $225K* | +7%† | $990 | — | $70,406 |
| Yorktown | $252K | +5.8% | $1,040 | 144 | $81,674 |
| Fall Creek | $175K* | +13%† | $980 | — | $69,350 |
| Monroe | $152K* | +4.1%† | $1,020 | — | $92,083 |
| Union | $172K* | +2.3%† | $1,240 | — | $75,795 |
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.
On the market in Salem
Listed in the past 60 days. Each opens on the listing site.
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. Price trend: Federal Housing Finance Agency House Price Index. 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.