Salem, NH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Salem, NH Real Estate Data


Salem Housing Market Information

With a population of 28,898, 11,093 total housing units (homes and apartments), and a median house value of $325,691, 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 66.16% of the town's housing units. Other types of housing that are prevalent in Salem include large apartment complexes or high rise apartments ( 18.94%), mobile homes or trailers ( 5.80%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.26%).

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 75.84% of Salem's homes, and 54.79% 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 ( 34.46%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.29%). There's also some housing in Salem built before 1939 ( 7.30%).

Salem Home Appreciation Rates

Salem's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Salem during the period has been just -0.97%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Salem's appreciation rate, at 5.41%, has been at or slightly above the national average. In the latest quarter, Salem's appreciation rate has been 1.57%, which annualizes to a rate of 6.42%.

Relative to New Hampshire, our data show that Salem's latest annual appreciation rate is higher than 60% 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:
$325,691

Salem, NH HOME PRICES

Value Range
> $1,151,000 0.9
$864,001 - $1,151,000 1.4
$576,001 - $864,000 5.0
$461,001 - $576,000 9.5
$345,001 - $461,000 26.3
$230,001 - $345,000 36.2
$115,001 - $230,000 13.0
$57,001 - $115,000 4.5
$0 - $57,000 3.3

High for NH
Very High for Nation

Value Relative to Nation Value Relative to State
14.4697546407449 24.203821656051

Number Of Homes And Apartments:
11,093

Rent & Ownership

 

Average Market Rent:
$1,402 / per month

Homeownership Rate

Homeownership
Owners 75.84
Renters 24.16
Vacant 5.90

Housing Market Details

 

Age of Homes

AGE OF Salem HOMES
2000 or Newer 10.3
1970 - 1999 47.9
1940 - 1969 34.5
1939 or Older 7.3

Types of Homes

TYPE OF Salem HOMES
Single-Family 66.2
Townhomes 3.8
Small Apt. Buildings 5.3
Apt. Complexes 18.9
Mobile Homes 5.8
Other 0.0

Home Size

SIZE OF Salem HOMES
No Bedroom 0.97
1 Bedroom 9.30
2 Bedrooms 32.11
3 Bedrooms 38.95
4 Bedrooms 15.84
5 or more bedrooms 2.84

Salem Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NH*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
43.46% 2.15% 4 5
* 10 is highest