Salem, IL Real Estate
According to census data in the year 2000 there were 3,500 housing units in Salem.
This represents a 9.3% growth from 3,202 in 1990.
Of those housing units, 3,480 were located in either urbanized areas or urban clusters, and 20 were located in what is classified as a rural area.
Homeownership rate in Salem is about 69.9%.
Salem's vacancy rate, including seasonal lodging, is about 6.3%.
Average household size is 2.33 people.
The majority of houses, apartments or condos in Salem were built after 1965.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1.40% |
| One Bedroom | 11.90% |
| Two Bedrooms | 29.30% |
| Three Bedrooms | 46.40% |
| Four Bedrooms | 8.10% |
| Five Bedrooms or more | 2.90% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.45 |
| Median year structure was built | 1964 |
| Median Value of occupied units | $58,200 |
| Median Price asked for vacant units | $41,300 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.04 |
| Median year structure was built | 1969 |
| Median Monthly Rent asked for vacant units | $234 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 5% |
| Home Equity Loan | 5.60% |
| Simple Mortgage | 50.20% |
| Debt Free | 39.20% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 15.3% |
