Salem, NH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Salem Neighborhoods Since 2000




Salem, NH 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 28,898, 11,110 total housing units (homes and apartments), and a median house value of $318,627, real estate costs in Salem are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Hampshire communities.

Single-family detached homes are the single most common housing type in Salem, accounting for 68.30% of the town's housing units. Other types of housing that are prevalent in Salem include large apartment complexes or high rise apartments ( 17.28%), duplexes, homes converted to apartments or other small apartment buildings ( 5.86%), and a few mobile homes or trailers ( 4.46%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Salem. Owner-occupied housing accounts for 77.02% of Salem's homes, and 57.54% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Salem built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Salem built between 1940-1969 ( 34.30%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.05%). There's also some housing in Salem built before 1939 ( 7.45%).

Salem Home Appreciation Rates

Real estate appreciation rates in Salem's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.76% during the period.

Appreciation rates are so strong in Salem that despite a nationwide downturn in the housing market, Salem real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Salem appreciation rates continue to be some of the highest in America, at 5.97%, which is higher than appreciation rates in 73.73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Salem. Salem appreciation rates in the latest quarter were at 1.07%, which equates to an annual appreciation rate of 4.36%.

Relative to New Hampshire, our data show that Salem's latest annual appreciation rate is higher than 80% of the other cities and towns in New Hampshire.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Salem differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Salem - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Salem real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$318,627

Salem, NH HOME PRICES

Value Range
> $1,155,000 1.0
$866,001 - $1,155,000 1.2
$577,001 - $866,000 5.6
$462,001 - $577,000 9.8
$347,001 - $462,000 25.2
$231,001 - $347,000 36.6
$115,001 - $231,000 13.4
$58,001 - $115,000 4.6
$0 - $58,000 2.6

High for NH
Very High for Nation

Value Relative to Nation Value Relative to State
14.6548693308332 21.656050955414

Number Of Homes And Apartments:
11,110

Salem Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NH*
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
45.45% 2.20% 5 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,570 / per month

Homeownership Rate

Homeownership
Owners 77.02
Renters 22.98
Vacant 5.31

Housing Market Details

 

Age of Homes

AGE OF Salem HOMES
2000 or Newer 11.1
1970 - 1999 47.2
1940 - 1969 34.3
1939 or Older 7.4

Types of Homes

TYPE OF Salem HOMES
Single-Family 68.3
Townhomes 4.1
Small Apt. Buildings 5.9
Apt. Complexes 17.3
Mobile Homes 4.5
Other 0.0

Home Size

SIZE OF Salem HOMES
No Bedroom 1.28
1 Bedroom 8.62
2 Bedrooms 29.28
3 Bedrooms 40.60
4 Bedrooms 16.94
5 or more bedrooms 3.28