Salem, IN—47167
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Salem, IN
As of Oct '25, the median home price in Salem, IN is $201,000, with a year-over-year change of 4.2%. This indicates that home prices in Salem, IN are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $201,000 | 4.2% |
| Single Family | $201,000 | 4.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $112,000 | 2.8% |
2 Bed | $146,000 | 4.3% |
3 Bed | $203,000 | 4.6% |
4 Bed | $282,000 | 4.4% |
| 5 Bed | $303,000 | 5.2% |
% of Housing Stock
Rental Trends — Salem, IN
Salem, IN lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $900 | $900 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $900 | $900 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Salem, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Salem, IN is 58. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $215,000 | -6.0% |
Listing Count | 61 | 18.0% |
| Listings as % of Homes | 0.5% | 18.0% |
Days on Market | 58 | 1.0% |
Demographics — Salem, IN
As of the latest ACS Survey released in 2023, Salem, IN has a population of 15,600, which has increased by 6.2% over the past 5 years. Salem, IN is a moderately popular place for families, as children make up 23.1% of the population. The area has a poorly educated workforce, with 13.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,600 | 6.2% |
% Under 18 | 23.1% | 4.5% |
% Seniors | 18.8% | -1.6% |
% WFH | 7.1% | 36.5% |
% w/ College Degree | 13.6% | 4.6% |
As of the latest ACS Survey released in 2023, Salem, IN is a predominantly white area, with 95.8% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Salem, IN is hispanic, making up 1.5% of the population. Foreign-born residents account for 0.5% of the population in Salem, IN, and this percentage has decreased by 28.6% 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 | 95.8% | -1.0% |
% Black | 0.2% | 0.0% |
% Hispanic | 1.5% | 66.7% |
% Asian | 0.1% | -66.7% |
% Foreign Born | 0.5% | -28.6% |
Mortgage and Risk — Salem, IN
According to HUD data as of 2023, there were 467 mortgage originations in Salem, IN, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Salem, IN. Investor activity is low, as 1.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 467 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Salem, IN
Salem, IN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 127 |
Total Units Section 8 | 127 |
% Rentals under Section 8 | 11.0% |
% Occupied Section 8 | 92.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $710 |
| 2 Bedroom | $30 | $900 | $930 |
| 3 Bedroom | N/A | N/A | $1,120 |
| 4 Bedroom | N/A | N/A | $1,230 |
Affordability — Salem, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $201,000 |
| Median Household Income | $57,700 |