Salem, SC—29676
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Salem, SC
As of Oct '25, the median home price in Salem, SC is $530,000, with a year-over-year change of -1.4%. This indicates that home prices in Salem, SC are decreasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $530,000 | -1.4% |
| Single Family | $563,000 | -1.4% |
| Condos | $350,000 | -4.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $286,000 | -1.4% |
3 Bed | $492,000 | -1.0% |
4 Bed | $1,038,000 | 0.2% |
| 5 Bed | $1,716,000 | 0.8% |
% of Housing Stock
Rental Trends — Salem, SC
As of July '25, Rentcast reports the average rent in Salem, SC is $3,040, with a year-over-year rent change of 16.9%. Per bedroom, the median rent as of July '25 in Salem, SC is 1-bedrooms: $1,400, 2-bedrooms: $2,020, 3-bedrooms: $5,500, 4-bedrooms: $3,650. The most common rental property sizes in Salem, SC are 2-bedroom and 3-bedroom, accounting for 58.8% and 41.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $3,040 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,400 | $1,400 |
| 2 Bed Rent | $1,850 | $2,020 |
| 3 Bed Rent | $5,500 | $5,500 |
| 4 Bed Rent | $3,000 | $3,650 |
% of Rental Stock
Property Listings — Salem, SC
As of Oct '25, Realtor.com reports that the median days on market for a home in Salem, SC is 70. This is a decrease of -7.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $790,000 | 11.0% |
Listing Count | 86 | 32.0% |
| Listings as % of Homes | 1.0% | 32.0% |
Days on Market | 70 | -7.0% |
Demographics — Salem, SC
As of the latest ACS Survey released in 2023, Salem, SC has a population of 6,170, which has increased by 16.3% over the past 5 years. Salem, SC is a less popular place for families, as children make up 7.5% of the population. The area has a highly educated workforce, with 50.0% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 31.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,170 | 16.3% |
% Under 18 | 7.5% | -25.0% |
% Seniors | 45.8% | 6.3% |
% WFH | 31.5% | 462.5% |
% w/ College Degree | 50.0% | 11.4% |
As of the latest ACS Survey released in 2023, Salem, SC is a predominantly white area, with 94.7% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Salem, SC is hispanic, making up 2.2% of the population. Foreign-born residents account for 1.3% of the population in Salem, SC, and this percentage has decreased by 45.8% 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 | 94.7% | -2.7% |
% Black | 0.0% | -100.0% |
% Hispanic | 2.2% | 144.4% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.3% | -45.8% |
Mortgage and Risk — Salem, SC
According to HUD data as of 2023, there were 191 mortgage originations in Salem, SC, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Salem, SC. Investor activity is low, as 2.0% 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 | 191 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 16.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Salem, SC
Salem, SC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$570 | $1,400 | $830 |
| 2 Bedroom | -$800 | $1,850 | $1,050 |
| 3 Bedroom | -$4,190 | $5,500 | $1,310 |
| 4 Bedroom | -$1,510 | $3,000 | $1,490 |
Affordability — Salem, SC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.3 |
| Median Home Price | $530,000 |
| Median Household Income | $92,200 |