Salem, NH Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Salem, NH Housing Market Trends

With a population of 29,791, 11,536 total housing units (homes and apartments), and a median house value of $365,575, Salem real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Salem, accounting for 68.55% of the town's housing units. Other types of housing that are prevalent in Salem include large apartment complexes or high rise apartments ( 17.29%), duplexes, homes converted to apartments or other small apartment buildings ( 5.83%), and a few mobile homes or trailers ( 4.81%).

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 77.65% of Salem's homes, and 57.45% 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 ( 33.18%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.86%). There's also some housing in Salem built before 1939 ( 4.31%).

Salem Home Appreciation Rates

Appreciation rates for homes in Salem have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 39.91%, which ranks in the top 40% nationwide. This equates to an annual average Salem house appreciation rate of 3.42%.

NeighborhoodScout's data show that during the latest twelve months, Salem's appreciation rate, at 5.14%, has been at or slightly above the national average. In the latest quarter, Salem's appreciation rate has been 2.12%, which annualizes to a rate of 8.76%.

Relative to New Hampshire, our data show that Salem's latest annual appreciation rate is lower than 70% 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:
$365,575

Salem, NH HOME PRICES

> $1,193,000
0.4%
0.4%
$895,001 - $1,193,000
1.9%
1.9%
$596,001 - $895,000
8.8%
8.8%
$477,001 - $596,000
15.3%
15.3%
$358,001 - $477,000
30.9%
30.9%
$238,001 - $358,000
28.7%
28.7%
$119,001 - $238,000
7.2%
7.2%
$60,001 - $119,000
3.7%
3.7%
$0 - $60,000
3.1%
3.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for NH

Value Relative To Nation

Number Of Homes And Apartments:
11,536

Salem Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NH*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
83.62% 2.94%
5
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,145 / per month

Homeownership Rate

Owners
77.7%
77.7%
Renters
22.3%
22.3%
Vacant
3.9%
3.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.9%
14.9%
1970 - 1999
47.6%
47.6%
1940 - 1969
33.2%
33.2%
1939 or Older
4.3%
4.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.6%
68.6%
Townhomes
3.3%
3.3%
Small Apt. Buildings
5.8%
5.8%
Apt. Complexes
17.3%
17.3%
Mobile Homes
4.8%
4.8%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.6%
1.6%
1 Bedroom
9.2%
9.2%
2 Bedrooms
27.4%
27.4%
3 Bedrooms
41.3%
41.3%
4 Bedrooms
16.2%
16.2%
5 or more bedrooms
4.3%
4.3%
0.0% 100.0%
% OF HOMES