Salem, MO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Salem Neighborhoods Since 2000




Salem, MO Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Salem Housing Market Information

With a population of 4,992, 1,965 total housing units (homes and apartments), and a median house value of $91,802, house prices in Salem are solidly below the national average.

Single-family detached homes are the single most common housing type in Salem, accounting for 74.60% of the city's housing units. Other types of housing that are prevalent in Salem include duplexes, homes converted to apartments or other small apartment buildings ( 14.23%), mobile homes or trailers ( 7.98%), and a few row houses and other attached homes ( 2.20%).

People in Salem primarily live in small (one, two or no bedroom) single-family detached homes. Salem has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Salem's housing was primarily built during this period, from the '40s through the '60s. A full 42.91% of the city's housing hails from this era. Other housing ages represented in Salem include homes built between 1970-1999 ( 37.04%) and housing constructed before 1939 ( 15.01%). There's also some housing in Salem built between 2000 and later ( 5.05%).

Vacant housing appears to be an issue in Salem. Fully 15.27% of the housing stock is classified as vacant. Left unchecked, vacant Salem homes and apartments can be a drag on the real estate market, holding Salem real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Salem Home Appreciation Rates

Appreciation rates for homes in Salem have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.92%, which ranks in the top 40% nationwide. This equates to an annual average Salem house appreciation rate of 0.58%.

Over the last year, Salem appreciation rates have trailed the rest of the nation. In the last twelve months, Salem's appreciation rate has been 2.36%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Salem were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Missouri, our data show that Salem's latest annual appreciation rate is lower than 50% of the other cities and towns in Missouri.

Average Home Values

 

Median Home Value:
$91,802

Salem, MO HOME PRICES

Value Range
> $1,075,000 0.6
$806,001 - $1,075,000 0.0
$537,001 - $806,000 0.0
$430,001 - $537,000 0.1
$322,001 - $430,000 0.8
$215,001 - $322,000 3.9
$108,001 - $215,000 24.3
$54,001 - $108,000 52.0
$0 - $54,000 18.3

Low for MO
Very Low for Nation

Value Relative to Nation Value Relative to State
82.8137817883511 78.0

Number Of Homes And Apartments:
1,965

Salem Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
35.49% 1.78% 6 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$690 / per month

Homeownership Rate

Homeownership
Owners 48.94
Renters 51.06
Vacant 15.27

Housing Market Details

 

Age of Homes

AGE OF Salem HOMES
2000 or Newer 5.0
1970 - 1999 37.0
1940 - 1969 42.9
1939 or Older 15.0

Types of Homes

TYPE OF Salem HOMES
Single-Family 74.6
Townhomes 2.2
Small Apt. Buildings 14.2
Apt. Complexes 1.0
Mobile Homes 8.0
Other 0.0

Home Size

SIZE OF Salem HOMES
No Bedroom 1.12
1 Bedroom 14.06
2 Bedrooms 35.66
3 Bedrooms 41.40
4 Bedrooms 6.77
5 or more bedrooms 0.99

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Zip Codes in Salem, MO