Home Values in Salem, Oregon — 2026 Market Report
Updated March 2026 | Seller's Market | +2.8% YoY
The median home value in Salem, Oregon is $375,000 as of March 2026, which is near the national median of $400,000. Home values in Salem have increased by 2.8% over the past year and 14.8% over the last five years. With a population of 175,535 and a median household income of $52,250, the price-to-income ratio stands at 7.2x, making Salem affordable for the average household.
Salem Housing Market Conditions
| Metric | Salem | National Avg |
|---|---|---|
| Median Home Value | $375,000 | $400,000 |
| YoY Appreciation | +2.8% | +3.8% |
| 5-Year Appreciation | +14.8% | +22.4% |
| Price per Sq Ft | $214 | $222 |
| Days on Market | 44 days | 45 days |
| Months of Supply | 1.7 | 3.5 |
| List-to-Sale Ratio | 101.8% | 98.5% |
| Monthly Homes Sold | 127 | — |
| Foreclosure Rate | 0.13% | 0.3% |
Home Value Trends in Salem
A homeowner who purchased at the median price of $326,655 five years ago in Salem would have gained approximately $48,345 in equity, representing a 14.8% return on investment. Over the past year alone, the typical homeowner gained $10,214 in home equity.
Affordability in Salem, OR
With a median household income of $52,250 and a median home price of $375,000, the price-to-income ratio in Salem is 7.2x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,165 compared to estimated monthly ownership costs of $2,084 gives a rent-vs-buy ratio of 0.96. In Salem, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Salem
The effective property tax rate in Oregon is 0.97%. On a home valued at $375,000, the estimated annual property tax bill is $3,638, or approximately $303/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Salem is 102.5 (100 = national average), indicating living costs are near the national average.
Calculate Your Mortgage Payment in Salem
Use our free calculator to estimate monthly payments for a $375,000 home
Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Salem, OR?
The median home value in Salem, Oregon is $375,000 as of March 2026. Home values have changed +2.8% over the past year, with a 5-year appreciation of 14.8%.
Is Salem a buyer's or seller's market?
Salem is currently a seller's market with 1.7 months of housing supply. Homes spend an average of 44 days on market, and the list-to-sale price ratio is 101.8%. Low inventory gives sellers an advantage.
Are home values going up in Salem?
Yes, home values in Salem have increased by 2.8% over the past year. The 5-year appreciation rate is 14.8%, meaning a home worth $326,655 five years ago is now worth $375,000.
Is it better to rent or buy in Salem?
The average monthly rent in Salem is $2,165, while estimated monthly homeownership costs are approximately $2,084. The price-to-rent ratio is 14.4. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other Oregon Cities
Related Resources
Disclaimer: Home value data for Salem, Oregon is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.