Salem - OR housing market
The Salem metro has a typical home value of $447,087, up 0.4% from a year ago. Homes sell in 34 days on average, a balanced market. 33% of listings have had a price cut. Data from Zillow Research, updated monthly.
Salem housing market, October 2026
The typical Salem home is worth $447,087 as of September 2026, up 0.0% from the prior month, up 0.0% over three months, and up 0.4% from a year ago. Over the past two years values have ranged from $444,717 to $449,076.
Homes are going pending in about 34 days, slower than the 21 days seen three months earlier. There are roughly 1,714 homes for sale, 14% more than a year ago. 33.0% of listings have taken a price cut (up from 26.7% three months ago).
Typical rent is $1,646 a month, up 0.2% year over year, which puts the price-to-rent ratio at 22.6.
At this week's 7.40% mortgage rate with 20% down ($89,417), the typical Salem home costs about $3,035 a month including tax and insurance, which needs a household income of roughly $130,100 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($447,087) is the Zillow Home Value Index for the Salem - OR metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 0.4% over the past year. In Salem - OR, that means a home worth $445,306 last year is now worth roughly $447,087.
The median sale price, what homes actually close for, is $454,815. Homes are selling at 99.3% of list price, meaning buyers have room to negotiate.
Homes listed in Salem - OR sit on the market for roughly 34 days before going pending. Shorter = seller's market; longer = buyer's market.
About 33.0% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 420 new listings hit the market each month in Salem - OR. There are currently 1,714 homes for sale, up 13.6% from a year ago.
The typical monthly rent in Salem - OR is $1,646, up 0.2% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 22.6x, renting territory (#27 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $2,476 a month in principal and interest, $830 more than renting before taxes, insurance and upkeep. The two break even at a 3.70% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in OR
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Portland - OR | $539,403 | -0.2% | 23.0d |
| Eugene - OR | $452,797 | +1.0% | 19.0d |