Salem, OH—44460
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Salem, OH
As of Oct '25, the median home price in Salem, OH is $182,000, with a year-over-year change of 2.9%. This indicates that home prices in Salem, OH are increasing. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $182,000 | 2.9% |
| Single Family | $183,000 | 2.8% |
| Condos | $142,000 | 4.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $83,000 | -1.2% |
2 Bed | $133,000 | 2.3% |
3 Bed | $194,000 | 4.3% |
4 Bed | $271,000 | 3.8% |
| 5 Bed | $329,000 | 3.1% |
% of Housing Stock
Rental Trends — Salem, OH
As of July '25, Rentcast reports the average rent in Salem, OH is $777, with a year-over-year rent change of 2.5%. Per bedroom, the median rent as of July '25 in Salem, OH is 1-bedrooms: $638, 2-bedrooms: $756, 3-bedrooms: $1,080. The most common rental property sizes in Salem, OH are 2-bedroom and 3-bedroom, accounting for 44.8% and 25.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $700 | $777 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $600 | $638 |
| 2 Bed Rent | $700 | $756 |
| 3 Bed Rent | $1,000 | $1,080 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Salem, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Salem, OH is 41. This is a increase of 23.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $217,000 | 10.0% |
Listing Count | 92 | 36.0% |
| Listings as % of Homes | 0.6% | 36.0% |
Days on Market | 41 | 23.0% |
Demographics — Salem, OH
As of the latest ACS Survey released in 2023, Salem, OH has a population of 25,300, which has remained stable by 0.1% over the past 5 years. Salem, OH is a moderately popular place for families, as children make up 18.9% of the population. The area has a poorly educated workforce, with 20.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,300 | 0.1% |
% Under 18 | 18.9% | -8.3% |
% Seniors | 21.6% | 0.9% |
% WFH | 6.5% | 85.7% |
% w/ College Degree | 20.0% | 5.8% |
As of the latest ACS Survey released in 2023, Salem, OH is a predominantly white area, with 96.4% of the population identifying as white. The white population has grown by 1.7% in the last 5 years. The second most common race or ethnicity in Salem, OH is hispanic, making up 0.8% of the population. Foreign-born residents account for 1.0% of the population in Salem, OH, and this percentage has decreased by 44.4% 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 | 96.4% | 1.7% |
% Black | 0.5% | -28.6% |
% Hispanic | 0.8% | -75.0% |
% Asian | 0.2% | 0.0% |
% Foreign Born | 1.0% | -44.4% |
Mortgage and Risk — Salem, OH
According to HUD data as of 2023, there were 500 mortgage originations in Salem, OH, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Salem, OH. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 500 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Salem, OH
Salem, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 376 |
Total Units Section 8 | 376 |
% Rentals under Section 8 | 12.9% |
% Occupied Section 8 | 81.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $600 | $710 |
| 2 Bedroom | $190 | $700 | $890 |
| 3 Bedroom | $120 | $1,000 | $1,120 |
| 4 Bedroom | N/A | N/A | $1,190 |
Affordability — Salem, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $182,000 |
| Median Household Income | $59,900 |