The median home value in Salem, VA is . This is the county median home value of . The national median home value is . The average price of homes sold in Salem, VA is . Approximately of Salem homes are owned, compared to rented, while are vacant. Salem real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you're interested in, contact a Salem real estate agent to arrange a tour today!
Learn More About Salem Real EstateSalem has a population of approximately 25,335 and experiences a population change rate of 2.38%. The population density is 1,745.1 / sq mi.
The median household income for Salem is $66,472, with 9,971 households and an average household size of 2.29.
The cost of living index in Salem is 92.5%.
The median value of a home in Salem is $260,300 with an appreciation rate of 15.8%. 58.8% of housing in the city is owned while 31.1% is rented.
The unemployment rate in Salem is 2.50%, and recent job growth is at 3.93%. Future job growth is projected at 45.01%.
The sales tax rate in Salem is 5.30%, while the income tax rate is 5.75%.
School expenditures in Salem are $13,163, and the school ratio is 14:1.
The average high temperature in July is 86.5 degrees, with an average low temperature in January of 26.1 degrees. The average rainfall is approximately 41.6 inches per year, with 15.5 inches of snow per year.
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