Median price for residential apartments in Salem, IN as of Jan, 2023.
Take into account that the price depends on the location and condition of the apartment. The size and amenities might have a large influence on the asking price as well.
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43 Salem, IN 47167, USA apartments for sale
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Salem
According to statistics, the population in Salem, IN amounts to 6,191, which shows decline 0% compared to the previous year. The median age of the city’s residents is 40. The average household income is $34,483, shifting growth 4% from the past year, and the average property value in Salem, IN decline -2% to $81,700 throughout the year.
| Population | 6,191 |
| Median Age | 39.7 |
| Poverty Rate | 20% |
| Household Income | $34,483 |
| Number Of Employees | 2,516 |
| Median Property Value | $81,700 |
Household Income
The average household income in Salem, IN grew from $33,022 to $34,483 in the past year. This data is an estimate based upon 2,697 households in Salem, IN . The chart below presents how household income is distributed in Salem, IN in comparison to the revenue allocation amid households nationally.
Property Value
According to data from last year, the average property value in Salem, IN shifted from $83,700 to $81,700 throughout the year. The subsequent graph indicates the share of properties in the given price range in Salem, IN in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Salem, IN properties falls in the '$60,000 to $69,999' range, which is lower than the most significant median property across the country.
Rent vs. Own
Property Taxes
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Salem, IN compared to median property taxes around the country. The prevalent amount of property taxes in Salem, IN equals $800, which is less than the national average.
Housing Trends
How much does an apartment cost in Salem, IN 47167, USA
Average apartment sale in Salem: $145,980 (+4.2%)
| Apartment Size | Jan | vs Last Month |
|---|---|---|
| Studio apartments | $49,900 | +61.1% |
| 2-bed apartments | $131,877 | -2.8% |
| 3-bed apartments | $176,183 | +3.4% |
| 4+ bed apartments | $189,900 | N/A |
During Jan 2023, the average price for an apartment in/near Salem, IN increased by 4.2% to $145,980.
Knowing the current property prices is key if you plan to buy a studio in Salem, IN. The average price for a studio has increased since the last month, currently being $49,900. Asking price for 2-bed apartment also decreased by 2.8% and a place of this size will now cost you $131,877. A 3-bed apartment goes for $176,183, it increased by 3.4% lately. According to statistics, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $189,900 for a big-family home.
| Listing Type | Jan | vs Last Month |
|---|---|---|
| Land for sale | $49,900 | +61.1% |
| Houses for sale | $148,725 | -0.5% |
Price reports demonstrate that house price decreased by 0.5% this month making it up to $148,725. The average price of the land for sale in Salem, IN has increased by 61.1%, and now equals $49,900.
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