Salem, OR housing market
The typical Salem home is worth about $435,000, about the same as a year ago, 12% below the Oregon typical home. Homes typically sell in 53 days, close to asking.
Home values, sales, trends and how Salem compares with the towns next door — updated as new data is published.
Salem at a glance
A balanced market
About 4.1 months of supply: neither buyers nor sellers have a clear edge.
Typical home value, 2016–2026
Show as a table
| January | Salem | Oregon |
|---|---|---|
| 2017 | $239,000 | $313,000 |
| 2018 | $266,000 | $337,000 |
| 2019 | $296,000 | $354,000 |
| 2020 | $311,000 | $369,000 |
| 2021 | $347,000 | $411,000 |
| 2022 | $408,000 | $480,000 |
| 2023 | $424,000 | $490,000 |
| 2024 | $428,000 | $495,000 |
| 2025 | $435,000 | $504,000 |
| 2026 | $437,000 | $500,000 |
| August 2026 | $435,000 | $496,000 |
778 new homes permitted in 2025
Builders were permitted 778 new homes in Salem in 2025: 364 single-family houses and 414 in buildings with two or more homes, worth about $172.5 million to build. That's 4.3 per 1,000 residents, about the pace of Oregon as a whole. Over the past 10 years, Salem has permitted 9,299 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Salem gained 20,898 residents while 5,850 new homes were permitted: about 3.6 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across Oregon: 2.6 new residents per new home.
How Salem ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 836 | 358 | 478 | $206.7 million |
| 2025 | 778 | 364 | 414 | $172.5 million |
| 2024 | 905 | 392 | 513 | $204.9 million |
| 2023 | 686 | 360 | 326 | $155.1 million |
| 2022 | 1,169 | 318 | 851 | $202.4 million |
| 2021 | 846 | 447 | 399 | $168.3 million |
| 2020 | 1,254 | 472 | 782 | $219.3 million |
| 2019 | 1,034 | 432 | 602 | $189.8 million |
| 2018 | 861 | 489 | 372 | $179.2 million |
| 2017 | 974 | 319 | 655 | $156.1 million |
| 2016 | 792 | 302 | 490 | $140.4 million |
| 2015 | 440 | 271 | 169 | $92.7 million |
| 2014 | 291 | 270 | 21 | $74.1 million |
| 2013 | 577 | 283 | 294 | $92.2 million |
| 2012 | 379 | 179 | 200 | $59.4 million |
| 2011 | 270 | 160 | 110 | $44.6 million |
| 2010 | 232 | 211 | 21 | $46.9 million |
| 2009 | 402 | 237 | 165 | $66 million |
| 2008 | 347 | 269 | 78 | $66.2 million |
| 2007 | 772 | 543 | 229 | $150.7 million |
| 2006 | 867 | 594 | 273 | $112.6 million |
| 2005 | 1,052 | 828 | 224 | $152.5 million |
| 2004 | 1,209 | 814 | 395 | $144.7 million |
| 2003 | 714 | 668 | 46 | $93.8 million |
| 2002 | 810 | 636 | 174 | $90.7 million |
| 2001 | 831 | 526 | 305 | $88.1 million |
| 2000 | 661 | 516 | 145 | $66.5 million |
How Salem ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Salem and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Salem | $435K | +0.4% | $1,590 | 778 | $75,487 |
| Hayesville | — | +4.2%† | $1,640 | — | $58,624 |
| Four Corners | — | +3.1%† | $1,590 | — | $69,669 |
| Keizer | $448K | +0.2% | $1,540 | 95 | $84,813 |
† FHFA price index change, where Zillow has no home value for the town.
5.8 years of income
The typical Salem home costs about 5.8 years of the town's median household income, about the same as across Oregon (6).
How Salem ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,590
HUD's Fair Market Rent for a two-bedroom in Salem is $1,590 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Salem pay a median of $1,400, so moving in tends to cost more than staying put. A two-bedroom takes about 25% of the town's median household income.
Studio $1,220 · 4 bedrooms $2,410
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (97301, 97302, 97304, 97305, 97306, 97317; Salem, OR MSA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Salem
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.