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Salem, NJ Real Estate


According to census data in the year 2000 there were 2,867 housing units in Salem. This represents a 0.9% decline from 2,894 in 1990.

Of those housing units, 2,867 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 40.2%. Salem's vacancy rate, including seasonal lodging, is about 17.6%. Average household size is 2.43 people.

The majority of houses, apartments or condos in Salem were built after 1947.

Statistics

Housing Size

Housing Units by Size
Studio Type3%
One Bedroom20.10%
Two Bedrooms33.80%
Three Bedrooms27.80%
Four Bedrooms12.30%
Five Bedrooms or more3%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.51
Median year structure was built1939
Median Value of occupied units$74,300
Median Price asked for vacant units$38,800

Rented Homes, Apartments and Condos

Average Household Size2.39
Median year structure was built1955
Median Monthly Rent asked for vacant units$422

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage8.20%
Home Equity Loan7.80%
Simple Mortgage38.70%
Debt Free45.30%
As % of Housing Units
       
Median part of Monthly Household Income dedicated to covering home ownership costs22%