Salem, KY—42078
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Salem, KY
As of Nov '25, the median home price in Salem, KY is $106,000, with a year-over-year change of 2.4%. This indicates that home prices in Salem, KY are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $106,000 | 2.4% |
| Single Family | $106,000 | 1.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $73,000 | -5.2% |
3 Bed | $135,000 | 5.5% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Salem, KY
Salem, KY lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Salem, KY
As of Nov '25, Realtor.com reports that the median days on market for a home in Salem, KY is 64. This is a decrease of -28.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $207,000 | -8.0% |
Listing Count | 3 | -33.0% |
| Listings as % of Homes | 0.2% | -33.0% |
Days on Market | 64 | -28.0% |
Demographics — Salem, KY
As of the latest ACS Survey released in 2023, Salem, KY has a population of 1,720, which has increased by 7.0% over the past 5 years. Salem, KY is a moderately popular place for families, as children make up 20.6% of the population. The area has a poorly educated workforce, with 10.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,720 | 7.0% |
% Under 18 | 20.6% | -10.8% |
% Seniors | 32.1% | 16.3% |
% WFH | 2.3% | 228.6% |
% w/ College Degree | 10.1% | 11.0% |
As of the latest ACS Survey released in 2023, Salem, KY is a predominantly white area, with 95.1% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Salem, KY is hispanic, making up 2.5% of the population. Foreign-born residents account for 0.1% of the population in Salem, KY, and this percentage has decreased by 66.7% 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 | 95.1% | -1.2% |
% Black | 1.4% | 366.7% |
% Hispanic | 2.5% | 127.3% |
% Asian | 0.1% | 0.0% |
% Foreign Born | 0.1% | -66.7% |
Mortgage and Risk — Salem, KY
According to HUD data as of 2023, there were 26 mortgage originations in Salem, KY, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 86.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Salem, KY. Investor activity is low, as 15.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 26 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 15.0% |
% Second Loans | 8.0% |
% Cash Out Refinance | 12.0% |
Rentals and Section 8 — Salem, KY
Salem, KY 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 | N/A | N/A | $670 |
| 2 Bedroom | N/A | N/A | $870 |
| 3 Bedroom | N/A | N/A | $1,040 |
| 4 Bedroom | N/A | N/A | $1,190 |
Affordability — Salem, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $106,000 |
| Median Household Income | $48,200 |