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 Type | 3% |
| One Bedroom | 20.10% |
| Two Bedrooms | 33.80% |
| Three Bedrooms | 27.80% |
| Four Bedrooms | 12.30% |
| Five Bedrooms or more | 3% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.51 |
| Median year structure was built | 1939 |
| Median Value of occupied units | $74,300 |
| Median Price asked for vacant units | $38,800 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.39 |
| Median year structure was built | 1955 |
| Median Monthly Rent asked for vacant units | $422 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0% |
| Second Mortgage | 8.20% |
| Home Equity Loan | 7.80% |
| Simple Mortgage | 38.70% |
| Debt Free | 45.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 22% |
