North Salem, NY—10560
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — North Salem, NY
As of Oct '25, the median home price in North Salem, NY is $785,000, with a year-over-year change of 2.0%. This indicates that home prices in North Salem, NY are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $785,000 | 2.0% |
| Single Family | $791,000 | 2.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $523,000 | 1.8% |
3 Bed | $738,000 | 2.9% |
4 Bed | $1,081,000 | 4.1% |
| 5 Bed | $2,218,000 | 6.3% |
% of Housing Stock
Rental Trends — North Salem, NY
As of July '25, Rentcast reports the average rent in North Salem, NY is $3,730, with a year-over-year rent change of -20.6%. Per bedroom, the median rent as of July '25 in North Salem, NY is 1-bedrooms: $1,600, 2-bedrooms: $3,500, 3-bedrooms: $4,800, 4-bedrooms: $5,500. The most common rental property sizes in North Salem, NY are 2-bedroom and 3-bedroom, accounting for 52.7% and 20.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,450 | $3,730 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,600 |
| 2 Bed Rent | $3,450 | $3,500 |
| 3 Bed Rent | $4,800 | $4,800 |
| 4 Bed Rent | $5,500 | $5,500 |
% of Rental Stock
Property Listings — North Salem, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in North Salem, NY is 50. This is a increase of 74.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,500,000 | 68.0% |
Listing Count | 28 | 69.0% |
| Listings as % of Homes | 0.5% | 69.0% |
Days on Market | 50 | 74.0% |
Demographics — North Salem, NY
As of the latest ACS Survey released in 2023, North Salem, NY has a population of 4,910, which has increased by 1.8% over the past 5 years. North Salem, NY is a moderately popular place for families, as children make up 22.6% of the population. The area has a highly educated workforce, with 64.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,910 | 1.8% |
% Under 18 | 22.6% | 10.2% |
% Seniors | 19.5% | -11.0% |
% WFH | 24.9% | 93.0% |
% w/ College Degree | 64.9% | 6.2% |
As of the latest ACS Survey released in 2023, North Salem, NY is a predominantly white area, with 82.2% of the population identifying as white. The white population has grown by 1.1% in the last 5 years. The second most common race or ethnicity in North Salem, NY is hispanic, making up 10.3% of the population. Foreign-born residents account for 12.0% of the population in North Salem, NY, and this percentage has decreased by 6.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.2% | 1.1% |
% Black | 0.8% | -81.0% |
% Hispanic | 10.3% | 32.1% |
% Asian | 2.4% | 50.0% |
% Foreign Born | 12.0% | -6.2% |
Mortgage and Risk — North Salem, NY
According to HUD data as of 2023, there were 60 mortgage originations in North Salem, NY, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in North Salem, NY. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 60 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — North Salem, NY
As of 2024, the percent of homes in North Salem, NY under the Section 8 program is 12.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in North Salem, NY, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 33 |
Total Units Section 8 | 33 |
% Rentals under Section 8 | 12.7% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $1,340 | $1,600 | $2,940 |
| 2 Bedroom | -$200 | $3,450 | $3,250 |
| 3 Bedroom | -$750 | $4,800 | $4,050 |
| 4 Bedroom | -$1,130 | $5,500 | $4,370 |
Affordability — North Salem, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $785,000 |
| Median Household Income | $180,000 |