Salem, OR

Population: 157,353
Average annual home appreciation rate: 4.37%
Total of homes for sale in this market: 1,417
Median home price: $177,925
Median Rent: $684 per room
Home price range: 41.01% of homes are between $90,001 – $180,000
Median sales price: $177,925
Number of homes: 421
Median foreclosure sales price: $147,900
Foreclosure discount: 17%
Most common home type: 61.20% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 5.78%
Number of renters: 42.41%
Number of owner occupied: 57.59%
Number people living below poverty level: 18.19%
Unemployment rate: 7.10%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the Salem area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor.

Leave a Reply

Your email address will not be published. Required fields are marked *