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Salem city, OR

ZIP 97305 — Housing & Real Estate

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

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 97305

Median Home Value
$339,100
Median Rent
$1,212
Affordability Snapshot
$93,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,178/mo PITI).

23%
Rent-to-Income Ratio

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

5.3x
Home Price-to-Income Ratio

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

23.3 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 97305 in Salem city, OR, a household would need roughly $93,000 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 $2,178. That is about 44% above the local median household income ($64,581), 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
52.4%-20% vs US avg
x
Vacancy Rate
3.1%-70% vs US avg
x
Broadband Access
91.5%+5% vs US avg
x
4+ Bedrooms
2.3%-85% vs US avg
x
Built Pre-1939
2.8%-78% vs US avg
x
Built Post-2014
2.1%-70% vs US avg
x
Rent Burden >30%
33.2%-33% vs US avg
x
Mortgage-Free
38.1%-0% vs US avg
x
$339,100
Home Value
$1,212
Rent
1985
Year Built
2015
Moved In

Residents have lived here since ~2015 on average

Housing Structure

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

  • 1-unit detached49.7%
  • 1-unit attached2.5%
  • 2-9 units21.1%
  • 10+ units15.6%
  • Mobile home & other11.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$339,100
Median rent$1,212
Owner-occupied52.4%
Vacant3.1%
Price-to-income5.3x
Est. income to buy$93,000