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Salem city, OR

ZIP 97301 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLarge CommunityLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 97301

Median Home Value
$310,800
Median Rent
$1,073
Affordability Snapshot
$86,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,996/mo PITI).

22%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

5.4x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

24.1 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 97301 in Salem city, OR, a household would need roughly $86,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,996. That is about 50% above the local median household income ($57,497), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
43.2%-34% vs US avg
x
Vacancy Rate
4.7%-54% vs US avg
x
Broadband Access
89.1%+2% vs US avg
x
4+ Bedrooms
1.6%-89% vs US avg
x
Built Pre-1939
6.9%-46% vs US avg
x
Built Post-2014
1.4%-80% vs US avg
x
Rent Burden >30%
25.6%-49% vs US avg
x
Mortgage-Free
30.2%-21% vs US avg
x
$310,800
Home Value
$1,073
Rent
1971
Year Built
2016
Moved In

Residents have lived here since ~2016 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached53.1%
  • 1-unit attached3.3%
  • 2-9 units22.8%
  • 10+ units16.8%
  • Mobile home & other4.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$310,800
Median rent$1,073
Owner-occupied43.2%
Vacant4.7%
Price-to-income5.4x
Est. income to buy$86,000