South Salem, NY—10590
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Salem, NY
As of Oct '25, the median home price in South Salem, NY is $915,000, with a year-over-year change of 5.2%. This indicates that home prices in South Salem, NY are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $915,000 | 5.2% |
| Single Family | $937,000 | 3.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $880,000 | 1.4% |
4 Bed | $1,089,000 | 0.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — South Salem, NY
As of July '25, Rentcast reports the average rent in South Salem, NY is $3,000, with a year-over-year rent change of -41.9%. Per bedroom, the median rent as of July '25 in South Salem, NY is 1-bedrooms: $2,000, 2-bedrooms: $4,000. The most common rental property sizes in South Salem, NY are 1-bedroom and 3-bedroom, accounting for 56.8% and 24.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,550 | $3,000 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,450 | $2,000 |
| 2 Bed Rent | $3,000 | $4,000 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — South Salem, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in South Salem, NY is 25. This is a decrease of -22.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,230,000 | 13.0% |
Listing Count | 31 | 116.0% |
| Listings as % of Homes | 0.4% | 116.0% |
Days on Market | 25 | -22.0% |
Demographics — South Salem, NY
As of the latest ACS Survey released in 2023, South Salem, NY has a population of 7,310, which has increased by 3.6% over the past 5 years. South 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 69.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,310 | 3.6% |
% Under 18 | 22.6% | -6.6% |
% Seniors | 20.1% | 36.7% |
% WFH | 25.2% | 110.0% |
% w/ College Degree | 69.2% | 3.1% |
As of the latest ACS Survey released in 2023, South Salem, NY is a predominantly white area, with 84.1% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in South Salem, NY is hispanic, making up 5.8% of the population. Foreign-born residents account for 12.6% of the population in South Salem, NY, and this percentage has increased by 34.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.1% | -2.8% |
% Black | 1.3% | -56.7% |
% Hispanic | 5.8% | -17.1% |
% Asian | 4.0% | 53.8% |
% Foreign Born | 12.6% | 34.0% |
Mortgage and Risk — South Salem, NY
According to HUD data as of 2023, there were 141 mortgage originations in South Salem, NY, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in South Salem, NY. Investor activity is low, as 0.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 141 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 0.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — South Salem, NY
South Salem, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 9 |
Total Units Section 8 | 9 |
% Rentals under Section 8 | 6.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $1,800 | $1,450 | $3,250 |
| 2 Bedroom | $600 | $3,000 | $3,600 |
| 3 Bedroom | N/A | N/A | $4,490 |
| 4 Bedroom | N/A | N/A | $4,840 |
Affordability — South Salem, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $915,000 |
| Median Household Income | $199,000 |