Salem
Oregon · Ranked #335 of 373 metros
38Crisis
💡
Housing in Salem costs 3.06× the median income, below the national average of 4.5×. The median home price is $164K and median rent is $756/month. Salem ranks #335 of 373 metros for affordability.
Median Home Price
🏠$164K
Need $115K income
Median Rent
🔑$756
Need $56K income
Housing Shortage
📉12,000
units needed
Building Permits
🔨1,859
annual
Median Income
💰$53K
Pop: 433,353
Rent Burden
⚠️34.0%
of renters paying >30%
Price Change (YoY)
📈+2%
Homeownership
🏡75.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Salem | National |
|---|---|---|
| Price-to-Income Ratio | 3.06x | 6.1x |
| Rent Burden | 34.0% | 31.5% |
| Homeownership Rate | 75.0% | 65.5% |
| YoY Price Change | +2% | +3.5% |
| YoY Rent Change | +1.5% | +2.8% |
| Mortgage Denial Rate | 14.0% | 13.5% |
| Eviction Rate | 4.0% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +50.1%Since 2000: +227.2%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,181/mo
1 Bedroom$1,201/mo
2 Bedroom$1,560/mo
3 Bedroom$2,159/mo
4 Bedroom$2,338/mo
Zillow Market Data
Home Value (ZHVI)
$447K
1yr: +0.3%5yr: +23.5%
Rent (ZORI)
$1,644/mo
1yr: +1.3%5yr: +28.3%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$165K
Active Inventory
189
Days on Market
79
Sold Above List
15.9%
Price Drops
18.5%