Salem housing market
Typical home value
$447K
▲ 0.4% 1 yr
Typical rent
$1,646/mo
▼ 0.1% 1 yr
12-month forecast
+0.1%
#462 of 546 metros
Gross rent yield
4.4%
#475 of 546 · U.S. 6.3%
Days to pending
58 days
▲ +13 days 1 yr
Listings with a price cut
33%
▲ +3.1 pts 1 yr
Key takeaways
- 1The typical home is worth $447,087, up 0.4% in a year and up 11% over five years.
- 2Zillow forecasts home values rising 0.1% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,646/mo (−0.1% YoY), a 4.4% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $2,457/mo in principal and interest, $811 more than renting.
- 5Homes go under contract in 58 days (+13 days vs last year); 33% of listings have had a price cut.
Market temperature
Strong buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 17/100, #544 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Salem compares
| Measure | Salem | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +0.4% | +1.2% | #412 |
| Home value, 5-yr change | +10.9% | +19.7% | |
| 12-month forecast | +0.1% | +1.1% | #462 |
| Rent, 1-yr change | −0.1% | +2.7% | #526 |
| Gross rent yield | 4.4% | 6.3% | #475 |
| Price-to-rent ratio | 22.6 | 15.8 | |
| Mortgage P&I on typical home | $2,457 | $2,012 | |
| Income needed to buy | $119,769 | $100,902 | |
| Days to pending | 58 | 56 |
Cities in the Salem metro
3 cities with home value and rent data.
| Salem | $432K | ▲ 0.3% | $1,611 | ▼ 0.1% | 4.5% |
| Keizer | $447K | ▲ 0.2% | $1,581 | ▲ 1.6% | 4.2% |
| Woodburn | $421K | ▲ 0.3% | $1,728 | ▼ 2.0% | 4.9% |
Run the numbers
Rental property calculator
Cash flow on a typical Salem rental ($447K, $1,646/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Salem home.
Rent vs buy
Is it cheaper to rent or buy in Salem?
Other Oregon metros
Portland, OR
$539K home$1,803 rent4.0% yield
▼ 0.2% 1 yr
Eugene, OR
$453K home$1,771 rent4.7% yield
▲ 1.0% 1 yr
Medford, OR
$431K home$1,848 rent5.1% yield
▲ 1.1% 1 yr
Bend, OR
$659K home$2,218 rent4.0% yield
▼ 0.7% 1 yr
Albany, OR
$408K home$1,635 rent4.8% yield
▲ 0.3% 1 yr
Roseburg, OR
$339K home$1,326 rent4.7% yield
▲ 0.1% 1 yr
Corvallis, OR
$553K home$1,811 rent3.9% yield
▲ 0.3% 1 yr
Hermiston, OR
$312K home$1,583 rent6.1% yield
▲ 2.7% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.