Salem, VA Real Estate
According to census data in the year 2000 there were 10,403 housing units in Salem.
This represents a 8.3% growth from 9,609 in 1990.
Of those housing units, 10,403 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Salem is about 67.6%.
Salem's vacancy rate, including seasonal lodging, is about 4.3%.
Average household size is 2.32 people.
The majority of houses, apartments or condos in Salem were built after 1966.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.70% |
| One Bedroom | 7.40% |
| Two Bedrooms | 33.20% |
| Three Bedrooms | 39.10% |
| Four Bedrooms | 16% |
| Five Bedrooms or more | 3.60% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.43 |
| Median year structure was built | 1966 |
| Median Value of occupied units | $104,200 |
| Median Price asked for vacant units | $85,000 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.08 |
| Median year structure was built | 1967 |
| Median Monthly Rent asked for vacant units | $486 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 1.10% |
| Second Mortgage | 7.30% |
| Home Equity Loan | 8.80% |
| Simple Mortgage | 45.40% |
| Debt Free | 37.40% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 16.7% |
