Salem
county · 13 metrics · 5y change · report
Home value index, single-family
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| Period | Value | Source | Matched by |
|---|---|---|---|
| 2026-06-01 | $304,020 | zillow_zhvi | fips |
| 2026-05-01 | $303,217 | zillow_zhvi | fips |
| 2026-04-01 | $302,248 | zillow_zhvi | fips |
| 2026-03-01 | $300,885 | zillow_zhvi | fips |
| 2026-02-01 | $299,500 | zillow_zhvi | fips |
| 2026-01-01 | $298,416 | zillow_zhvi | fips |
| 2025-12-01 | $297,635 | zillow_zhvi | fips |
| 2025-11-01 | $296,752 | zillow_zhvi | fips |
| 2025-10-01 | $296,670 | zillow_zhvi | fips |
| 2025-09-01 | $297,097 | zillow_zhvi | fips |
| 2025-08-01 | $297,938 | zillow_zhvi | fips |
| 2025-07-01 | $298,561 | zillow_zhvi | fips |
| 2025-06-01 | $298,810 | zillow_zhvi | fips |
| 2025-05-01 | $298,041 | zillow_zhvi | fips |
| 2025-04-01 | $296,882 | zillow_zhvi | fips |
| 2025-03-01 | $295,673 | zillow_zhvi | fips |
| 2025-02-01 | $294,846 | zillow_zhvi | fips |
| 2025-01-01 | $294,311 | zillow_zhvi | fips |
| 2024-12-01 | $294,209 | zillow_zhvi | fips |
| 2024-11-01 | $294,095 | zillow_zhvi | fips |
| 2024-10-01 | $293,638 | zillow_zhvi | fips |
| 2024-09-01 | $292,687 | zillow_zhvi | fips |
| 2024-08-01 | $291,359 | zillow_zhvi | fips |
| 2024-07-01 | $289,717 | zillow_zhvi | fips |
Median household income
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| Period | Value | Source | Matched by |
|---|---|---|---|
| 2019-01-01 | $78,412 | census_acs | fips |
| 2018-01-01 | $73,378 | census_acs | fips |
| 2017-01-01 | $67,898 | census_acs | fips |
| 2016-01-01 | $64,234 | census_acs | fips |
| 2015-01-01 | $66,842 | census_acs | fips |
Current values
Each metric’s most recent reading, ranked against peers by value rather than by change. The MOD-IV assessment aggregates appear only here: they are a single published snapshot, and a change needs two observations.
| Metric | Value | Rank | As of | Source |
|---|---|---|---|---|
| Median gross rent | $1,185 | 21 / 21 | 2023-12-31 | census_acs |
| Median household income | $78,412 | 18 / 21 | 2023-12-31 | census_acs |
| Median owner-occupied home value | $223,000 | 20 / 21 | 2023-12-31 | census_acs |
| Total population | 64,973 | 21 / 21 | 2023-12-31 | census_acs |
| Renters paying over 30% of income on housing | 0.53 | 20 / 21 | 2023-12-31 | census_acs |
| Area median income (HUD) | $114,700 | 14 / 21 | 2024-12-31 | hud |
| Low-income limit, 80% AMI, 4-person household | $91,750 | 15 / 21 | 2024-12-31 | hud |
| Net migration, tax returns | 151 | 6 / 21 | 2022-12-31 | irs_migration |
| Residential units permitted | 95 | 21 / 21 | 2024-12-31 | census_permits |
| Home value to area median income | 2.51 | 1 / 21 | 2024-12-31 | hip_derived |
| Home value to household income | 3.42 | 3 / 21 | 2023-12-31 | hip_derived |
| Unemployment rate | 6.0% | 18 / 21 | 2025-12-31 | bls |
| Home value index, single-family | $304,020 | 20 / 21 | 2026-06-30 | zillow_zhvi |
Interpretation
written by Gemma 4 E4B · ollamaThe underlying figures have changed since this was written. Treat it as out of date until it is regenerated.
The housing market in Salem County shows significant pressure on affordability, as indicated by the Home value to household income ratio, which ranks 21 of 21 and has increased by 35.2% over the 2019-2023 window. This trend is mirrored by the median owner-occupied home value, which also ranks 19 of 21 and saw a substantial increase of 20.8%. While the median household income rose by 17.3% during the same period, the rising cost of housing, including the median gross rent increase of 16.3%, suggests a widening gap between local earnings and housing costs.
Despite these affordability concerns, the region is experiencing strong demographic and economic inflows. Net migration, tax returns rank 1 of 21, showing a massive increase of 704.0% between 2018 and 2022. Furthermore, the labor market appears robust, with the unemployment rate dropping by 18.9% and ranking 19 of 21. The total population also increased by 3.1% over the 2019-2023 period.
It is important to note that the analysis is subject to several caveats: the ACS 5-year vintages overlap by four years, meaning consecutive estimates are not independent measurements. Additionally, affordability ratios are computed by the platform from two published series, not published by either source. Overall, while the region is attracting significant population and labor force growth, the rapid appreciation in home values and rents relative to household income suggests that housing costs are outpacing income growth.
Generated by a local language model from this region's analysis packet. It is interpretation of computed metrics, not a measurement, and not advice.
Caveats
- ACS 5-year vintages overlap by four years, so consecutive estimates are not independent measurements and short windows understate the real separation.
- Affordability ratios are computed by this platform from two published series, not published by either source. The monthly value or rent series is averaged over the survey year to match the annual income denominator.
- HUD publishes income limits per county, so every AMI-based figure here is a county figure. HUD does not sanction allocating one down to a municipality.