What is the average home price in Salem, MA 01970?

As of May '26, the median home price in Salem, MA 01970 is $612,000, based on Zillow home estimates.

How have home prices in Salem, MA 01970 changed over the past year?

As of May '26, home prices have increased 0.4% over the past year, according to Zillow home estimates data.

What is the home price projection for Salem, MA 01970?

As of May '26, Zillow projects home prices in Salem, MA 01970 to increase 1.1% in the next year.

What are the demographics of Salem, MA 01970?

According to the latest Census, the demographics of Salem, MA 01970 are 67.7% White, 5.3% Black, 3.3% Asian, 19.5% Hispanic. The population is 44,100, with 15.7% under 18 years old.

How long does it take homes to sell in Salem, MA 01970?

According to Realtor.com, as of May '26, the median home in Salem, MA 01970 is on the market for 23 days. This is an increase of 72.0% from last year.

What is the average rent price in Salem, MA 01970?

The average rent price in Salem, MA 01970, as of the latest data, is $2,860. The average rent for 1 bedroom homes is $2,370. For 2, 3, and 4 bedroom homes, the average rent is $3,020, $3,210, and $3,470 respectively.

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Salem, MA—01970

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$612,000

0.4% YoY Growth

Household Income

$85,200

30.1% YoY Growth

Days on Market

72.0% Longer YoY

Home Price Forecast

1.1%

Median Rent

$2,820

5.5% YoY Growth

1-Bed Rent

$2,500

1.3% YoY Growth

2-Bed Rent

$3,000

5.2% YoY Growth

3-Bed Rent

$3,000

1.3% YoY Growth

Home Price Trends — Salem, MA

As of May '26, the median home price in Salem, MA is $612,000, with a year-over-year change of 0.4%. This indicates that home prices in Salem, MA are flat. 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	$612,000	0.4%
Single Family	$687,000	0.7%
Condos	$506,000	-0.6%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$554,000	-13.0%
Listing Count	126	59.0%
Listings as % of Homes	0.1%	59.0%
Days on Market	23	72.0%

Metric	Latest Census	YoY % Change
Population	44,100	2.2%
% Under 18	15.7%	-7.1%
% Seniors	16.4%	9.3%
% WFH	19.5%	219.7%
% w/ College Degree	49.7%	22.7%

Metric	Zip Code Average
Total Loan Originations	664
% Conventional Loans	94.0%
% Government Loans	6.0%
% Investor Loans	3.0%
% Second Loans	1.0%
% Cash Out Refinance	7.0%

Total Units under HUD	2,667
Total Units Section 8	2,606
% Rentals under Section 8	18.8%
% Occupied Section 8	62.2%

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$360	$2,500	$2,140
2 Bedroom	-$450	$3,000	$2,550
3 Bedroom	$80	$3,000	$3,080
4 Bedroom	-$110	$3,500	$3,390

Salem, MA—01970

Key Metrics at a Glance

Home Price Trends — Salem, MA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Salem, MA

% of Rental Stock

Property Listings — Salem, MA

Demographics — Salem, MA

Race and Ethnicity

Mortgage and Risk — Salem, MA

Mortgages

Rentals and Section 8 — Salem, MA

Section 8 Market Size

Section 8 Opportunity

Affordability — Salem, MA

Home Price to Income Ratio

Salem, MA — ZIP Code Boundary Map

Nearby ZIP Codes

Swampscott, MA

Marblehead, MA

Lynn, MA

Lynn, MA

Beverly, MA

Frequently Asked Questions

Type	Median Rent	Average Rent
Average Rent	$2,820	$2,860
Studio Rent	$1,700	$1,830
1 Bed Rent	$2,500	$2,370
2 Bed Rent	$3,000	$3,020
3 Bed Rent	$3,000	$3,210
4 Bed Rent	$3,500	$3,470

Metric	Latest Census	5-Year % Change
% White	67.7%	-4.2%
% Black	5.3%	-10.2%
% Hispanic	19.5%	0.0%
% Asian	3.3%	65.0%
% Foreign Born	15.5%	-1.9%

Metric	Zip Code Average
Home Price to Income Ratio	6.4
Median Home Price	$612,000
Median Household Income	$85,200