Housing in Salem, VA
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Redfin — January 2026Median Sale Price
$293,000
Median List Price
$269,500
Price Per Sq Ft
$165
Days on Market
14
Active Inventory
53
Months of Supply
4.8
Balanced market
Zillow Home Value
$296,170
ZHVI — January 2026
Zillow Rent Index
$1,454
ZORI — January 2026
Price Trends
Source: RedfinMarket Competitiveness
Source: RedfinSold Above List
18.2%
Off Market in 2 Weeks
33.3%
Sale-to-List Ratio
97.7%
Buyer's market
Market Activity
Source: RedfinHomes Sold
11
New Listings
17
Pending Sales
18
Price Per Square Foot
Source: RedfinMedian Sale $/SF
$165
Median List $/SF
$180
Salem vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with 25,000 - 50,000 residents. Salem is highlighted.
Median Home Value
Median Rent
Median Price Per Sq Ft
Rent Burden
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$244,800
Median Rent
$1,046
Total Housing Units
11,096
Vacancy Rate
8.6%
Owner Occupied
63.5%
Renter Occupied
36.5%
Median Property Tax
$2,232
per year
Monthly Cost (w/ Mortgage)
$1,168
Housing Types
The current median sale price in Salem, VA is $293,000 according to Redfin data. Homes spend a median of 14 days on the market. 18.2% of homes sold above asking price. The market has 4.8 months of supply. The median price per square foot is $165. Zillow's observed rent index is $1,454/month. About 63.5% of housing units are owner-occupied. The median year homes were built is 1971. There are 11,096 total housing units.