Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 30,647, 12,258 total housing units (homes and apartments), and a median house value of $557,122, real estate costs in Salem are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Hampshire communities.
Single-family detached homes are the single most common housing type in Salem, accounting for 66.81% of the town's housing units. Other types of housing that are prevalent in Salem include large apartment complexes or high rise apartments ( 18.65%), mobile homes or trailers ( 5.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.46%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Salem. Owner-occupied housing accounts for 76.62% of Salem's homes, and 57.20% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Salem built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Salem built between 1940-1969 ( 33.93%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.39%). There's also some housing in Salem built before 1939 ( 4.23%).
Appreciation rates for homes in Salem have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 106.27%, which ranks in the top 30% nationwide. This equates to an annual average Salem house appreciation rate of 7.51%.
NeighborhoodScout's data show that during the latest twelve months, Salem's appreciation rate, at 6.61%, has been at or slightly above the national average. In the latest quarter, Salem's appreciation rate has been 2.38%, which annualizes to a rate of 9.87%.
Relative to New Hampshire, our data show that Salem's latest annual appreciation rate is lower than 50% of the other cities and towns in New Hampshire.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Salem differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Salem - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Salem real estate investment or home purchase decisions.
$557,122
for New hampshire
for nation
12,258
$3,721 / per month