Salem, WV—26426
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Salem, WV
As of Oct '25, the median home price in Salem, WV is $118,000, with a year-over-year change of -0.6%. This indicates that home prices in Salem, WV are flat. According to Zillow, the 1-year price projection is -0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $118,000 | -0.6% |
| Single Family | $118,000 | -0.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $102,000 | -1.0% |
3 Bed | $146,000 | 0.7% |
4 Bed | $184,000 | 4.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Salem, WV
As of July '25, Rentcast reports the average rent in Salem, WV is $550, with a year-over-year rent change of -12.0%. Per bedroom, the median rent as of July '25 in Salem, WV is 1-bedrooms: $550. The most common rental property sizes in Salem, WV are 2-bedroom and studio, accounting for 28.0% and 25.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $550 | $550 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $550 | $550 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Salem, WV
As of Oct '25, Realtor.com reports that the median days on market for a home in Salem, WV is 100. This is a increase of 19.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $75,300 | -23.0% |
Listing Count | 22 | 1.0% |
| Listings as % of Homes | 0.4% | 1.0% |
Days on Market | 100 | 19.0% |
Demographics — Salem, WV
As of the latest ACS Survey released in 2023, Salem, WV has a population of 7,300, which has decreased by -5.8% over the past 5 years. Salem, WV is a moderately popular place for families, as children make up 16.6% of the population. The area has a poorly educated workforce, with 18.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,300 | -5.8% |
% Under 18 | 16.6% | -11.2% |
% Seniors | 18.7% | -23.0% |
% WFH | 4.4% | -25.4% |
% w/ College Degree | 18.9% | -11.3% |
As of the latest ACS Survey released in 2023, Salem, WV is a predominantly white area, with 95.4% of the population identifying as white. The white population has shrunk by 0.1% in the last 5 years. The second most common race or ethnicity in Salem, WV is hispanic, making up 1.5% of the population. Foreign-born residents account for 1.4% of the population in Salem, WV, and this percentage has increased by 7.7% 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 | 95.4% | -0.1% |
% Black | 0.9% | -40.0% |
% Hispanic | 1.5% | 87.5% |
% Asian | 0.7% | 0.0% |
% Foreign Born | 1.4% | 7.7% |
Mortgage and Risk — Salem, WV
According to HUD data as of 2023, there were 73 mortgage originations in Salem, WV, of which 60.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Salem, WV. Investor activity is low, as 0.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 73 |
% Conventional Loans | 60.0% |
% Government Loans | 40.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Salem, WV
Salem, WV lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 102 |
Total Units Section 8 | 103 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $230 | $550 | $780 |
| 2 Bedroom | N/A | N/A | $900 |
| 3 Bedroom | N/A | N/A | $1,190 |
| 4 Bedroom | N/A | N/A | $1,390 |
Affordability — Salem, WV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $118,000 |
| Median Household Income | $52,000 |