Salem, IN Real Estate
According to census data in the year 2000 there were 2,684 housing units in Salem.
This represents a 7.5% growth from 2,496 in 1990.
Of those housing units, 2,671 were located in either urbanized areas or urban clusters, and 13 were located in what is classified as a rural area.
Homeownership rate in Salem is about 70.7%.
Salem's vacancy rate, including seasonal lodging, is about 6.1%.
Average household size is 2.23 people.
The majority of houses, apartments or condos in Salem were built after 1961.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.70% |
| One Bedroom | 9.90% |
| Two Bedrooms | 37.40% |
| Three Bedrooms | 40.60% |
| Four Bedrooms | 8.20% |
| Five Bedrooms or more | 3.20% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.23 |
| Median year structure was built | 1959 |
| Median Value of occupied units | $67,200 |
| Median Price asked for vacant units | $71,300 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.25 |
| Median year structure was built | 1967 |
| Median Monthly Rent asked for vacant units | $313 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 7.30% |
| Home Equity Loan | 3.30% |
| Simple Mortgage | 45.10% |
| Debt Free | 44.20% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 15.7% |
