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Salem, AL—36874

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$322,000
4.2% YoY Growth
Household Income
$63,200
18.4% YoY Growth
Days on Market
66
2.0% Shorter YoY
Home Price Forecast
2.3%
Median Rent
$1,300
22.9% YoY Growth
1-Bed Rent
$1,400
N/A
2-Bed Rent
N/A
N/A
3-Bed Rent
$1,300
17.7% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Salem, AL

As of Dec '25, the median home price in Salem, AL is $322,000, with a year-over-year change of 4.2%. This indicates that home prices in Salem, AL are increasing. 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 TypeMedian Home ValueYoY % Change
All Homes
$322,0004.2%
Single Family $322,0004.5%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		N/AN/A
    3 Bed
    		$284,0005.2%
    4 Bed
    		$401,0005.0%
    5 Bed N/AN/A
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    % of Housing Stock

    1 Bedroom
    0.3%
    2 Bedrooms
    18.7%
    3 Bedrooms
    55.9%
    4 Bedrooms
    19.7%
    5+ Bedrooms
    5.4%

    Rental Trends — Salem, AL

    As of July '25, Rentcast reports the average rent in Salem, AL is $1,350, with a year-over-year rent change of -22.9%. Per bedroom, the median rent as of July '25 in Salem, AL is 1-bedrooms: $1,400, 3-bedrooms: $1,300. The most common rental property sizes in Salem, AL are 3-bedroom and 4-bedroom, accounting for 77.5% and 12.1% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,300$1,350
    Studio Rent N/AN/A
    1 Bed Rent $1,400$1,400
    2 Bed Rent N/AN/A
    3 Bed Rent $1,300$1,300
    4 Bed Rent N/AN/A
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    % of Rental Stock

    2 Bedrooms
    10.4%
    3 Bedrooms
    77.5%
    4 Bedrooms
    12.1%

    Property Listings — Salem, AL

    As of Dec '25, Realtor.com reports that the median days on market for a home in Salem, AL is 61. This is a increase of 21.0% 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 6.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$445,0001.0%
    Listing Count
    		707.0%
    Listings as % of Homes0.5%7.0%
    Days on Market
    		66-2.0%
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    Demographics — Salem, AL

    As of the latest ACS Survey released in 2023, Salem, AL has a population of 10,300, which has increased by 37.5% over the past 5 years. Salem, AL is a moderately popular place for families, as children make up 22.2% of the population. The area has a poorly educated workforce, with 19.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		10,30037.5%
    % Under 18
    		22.2%4.2%
    % Seniors
    		23.1%45.3%
    % WFH
    		6.7%42.6%
    % w/ College Degree
    		19.8%-26.7%
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    As of the latest ACS Survey released in 2023, Salem, AL is a predominantly white area, with 77.3% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Salem, AL is black, making up 18.7% of the population. Foreign-born residents account for 4.2% of the population in Salem, AL, and this percentage has increased by 200.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		77.3%-6.3%
    % Black
    		18.7%62.6%
    % Hispanic
    		2.8%21.7%
    % Asian
    		0.2%-80.0%
    % Foreign Born
    		4.2%200.0%
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    Mortgage and Risk — Salem, AL

    According to HUD data as of 2023, there were 166 mortgage originations in Salem, AL, of which 56.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 49.0% above 90% LTV (very high). This implies large mortgage risk in Salem, AL. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		166
    % Conventional Loans
    		56.0%
    % Government Loans
    		44.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		14.0%
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    Rentals and Section 8 — Salem, AL

    Salem, AL lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		21
    Total Units Section 8
    		21
    % Rentals under Section 8
    		6.7%
    % Occupied Section 8
    		71.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$290$1,400$1,110
    2 BedroomN/AN/A$1,290
    3 Bedroom$380$1,300$1,680
    4 BedroomN/AN/A$1,810

    Affordability — Salem, AL

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.4
    Median Home Price$322,000
    Median Household Income$63,200

    Salem, AL — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Smiths Station, AL

    36877

    Phenix City, AL

    36870

    Opelika, AL

    36804

    Valley, AL

    36854

    Phenix City, AL

    36867

    Frequently Asked Questions