Salem, VA housing market
The typical Salem home is worth about $310,000, up 4.1% in a year, 25% below the Virginia typical home. Homes typically sell in 8 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 seller's market
Supply is tight — about 2 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Salem | Virginia |
|---|---|---|
| 2017 | $174,000 | $253,000 |
| 2018 | $179,000 | $263,000 |
| 2019 | $185,000 | $271,000 |
| 2020 | $198,000 | $284,000 |
| 2021 | $219,000 | $311,000 |
| 2022 | $237,000 | $345,000 |
| 2023 | $265,000 | $367,000 |
| 2024 | $281,000 | $386,000 |
| 2025 | $297,000 | $405,000 |
| 2026 | $306,000 | $411,000 |
| August 2026 | $310,000 | $415,000 |
17 new homes permitted in 2025
Builders were permitted 17 new homes in Salem in 2025, all single-family houses, worth about $6 million to build. That's 0.7 per 1,000 residents, slower than across Virginia (4). Over the past 10 years, Salem has permitted 549 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Salem gained 544 residents while 276 new homes were permitted: about 2 new residents per new home. Building and growth moved roughly in step. Across Virginia: 2.2 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) | 22 | 22 | 0 | $7.2 million |
| 2025 | 17 | 17 | 0 | $6 million |
| 2024 | 268 | 20 | 248 | $41.9 million |
| 2023 | 117 | 22 | 95 | $22.8 million |
| 2022 | 35 | 35 | 0 | $8.1 million |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 32 | 32 | 0 | $7.6 million |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 43 | 43 | 0 | $10.3 million |
| 2016 | 37 | 37 | 0 | $8.9 million |
| 2015 | 35 | 35 | 0 | $6.8 million |
| 2014 | 38 | 38 | 0 | $5.1 million |
| 2013 | 28 | 28 | 0 | $4.3 million |
| 2012 | 26 | 26 | 0 | $3.6 million |
| 2011 | 17 | 17 | 0 | $2.5 million |
| 2010 | 20 | 20 | 0 | $3.1 million |
| 2009 | 29 | 29 | 0 | $4 million |
| 2008 | 53 | 44 | 9 | $5.4 million |
| 2007 | 8 | 8 | 0 | $739,000 |
| 2006 | 10 | 10 | 0 | $924,000 |
| 2005 | 71 | 62 | 9 | $9 million |
| 2004 | 65 | 65 | 0 | $8.5 million |
| 2003 | 57 | 57 | 0 | $6.8 million |
| 2002 | 67 | 59 | 8 | $6.6 million |
| 2001 | 57 | 57 | 0 | $6.7 million |
| 2000 | 73 | 69 | 4 | $8.9 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 | $310K | +4.1% | $1,400 | 17 | $66,725 |
| Roanoke | $279K | +2.6% | $1,230 | 410 | $55,378 |
| Glenvar | — | +2.2%† | $1,400 | — | $49,083 |
| Cave Spring | — | +4.1%† | $1,460 | — | $87,539 |
† FHFA price index change, where Zillow has no home value for the town.
4.7 years of income
The typical Salem home costs about 4.7 years of the town's median household income, about the same as across Virginia (4.5).
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 $1,400
HUD's Fair Market Rent for a two-bedroom in Salem is $1,400 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Salem pay a median of $1,133, so moving in tends to cost more than staying put. A two-bedroom takes about 25% of the town's median household income.
Studio $1,120 · 4 bedrooms $2,350
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (24153; Roanoke, VA 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, 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.