Salem, SD housing market
The typical Salem home is worth about $254,000, up 7.2% in a year, 21% below the South Dakota typical home.
Home values, sales, trends and how Salem compares with the towns next door — updated as new data is published.
Salem at a glance
Typical home value, 2016–2026
Show as a table
| January | Salem | South Dakota |
|---|---|---|
| 2017 | $125,000 | $186,000 |
| 2018 | $140,000 | $195,000 |
| 2019 | $147,000 | $203,000 |
| 2020 | $152,000 | $215,000 |
| 2021 | $176,000 | $235,000 |
| 2022 | $206,000 | $272,000 |
| 2023 | $227,000 | $297,000 |
| 2024 | $224,000 | $301,000 |
| 2025 | $239,000 | $312,000 |
| 2026 | $247,000 | $319,000 |
| August 2026 | $254,000 | $322,000 |
A two-bedroom rents for about $1,100
HUD's Fair Market Rent for a two-bedroom in Salem is $1,100 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $820 · 4 bedrooms $1,850
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (57058; Sioux Falls, SD HUD Metro FMR Area), 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. 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.