Salem, MA housing market
Typical home value
$604K
▲ 0.6% 1 yr
Typical rent
$2,683/mo
▲ 2.1% 1 yr
Gross rent yield
5.3%
U.S. 6.3%
5-year home value change
+21%
U.S. +20%
Key takeaways
- 1The typical home in Salem is worth $603,696, up 0.6% over the past year and up 21% over five years.
- 2Typical rent is $2,683 a month (+2.1% YoY), a gross rent yield of 5.3% (above the Boston, MA metro's 4.9%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $3,318/mo, $635 more than typical rent.
- 4Zillow forecasts the Boston, MA metro's home values to change +1.4% over the next 12 months.
Market temperature (Boston, MA metro)
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 48/100, #161 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Salem compares
| Measure | Salem | Boston, MA metro | United States |
|---|---|---|---|
| Typical home value | $603,696 | $725,639 | $366,157 |
| Home value, 1-yr change | +0.6% | +2.1% | +1.2% |
| Typical rent | $2,683 | $2,987 | $1,932 |
| Rent, 1-yr change | +2.1% | +2.3% | +2.7% |
| Gross rent yield | 5.3% | 4.9% | 6.3% |
| Price-to-rent ratio | 18.8 | 20.2 | 15.8 |
| Mortgage P&I, typical home | $3,318 | $3,988 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Salem rental, pre-filled.
Rent vs buy in Salem
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $604K home.
Other cities in the Boston, MA metro
Boston, MA
$761K home$3,271 rent
▼ 1.6% 1 yr
Cambridge, MA
$1.02M home$3,438 rent
▼ 0.5% 1 yr
Lowell, MA
$482K home$2,252 rent
▲ 1.1% 1 yr
Brockton, MA
$505K home$2,289 rent
▲ 2.1% 1 yr
Lynn, MA
$577K home$2,342 rent
▲ 0.7% 1 yr
Newton, MA
$1.48M home$3,358 rent
▲ 1.9% 1 yr
Quincy, MA
$674K home$2,712 rent
▲ 2.1% 1 yr
Lawrence, MA
$510K home$2,372 rent
▲ 2.4% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.