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Salem, KY Real Estate


According to census data in the year 2000 there were 364 housing units in Salem. This represents a 2.5% growth from 355 in 1990.

Of those housing units, none were located in either urbanized areas or urban clusters, and 364 were located in what is classified as a rural area.

Homeownership rate in Salem is about 86%. Salem's vacancy rate, including seasonal lodging, is about 11.5%. Average household size is 2.13 people.

The majority of houses, apartments or condos in Salem were built after 1972.

Statistics

Housing Size

Housing Units by Size
Studio Type0%
One Bedroom3.30%
Two Bedrooms39%
Three Bedrooms47.50%
Four Bedrooms8%
Five Bedrooms or more2.20%
As % of Housing Units
         

Owned Homes, Apartments and Condos

Average Household Size2.1
Median year structure was built1972
Median Value of occupied units$53,700
Median Price asked for vacant units$24,000

Rented Homes, Apartments and Condos

Average Household Size2.29
Median year structure was built1960
Median Monthly Rent asked for vacant units$186

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage4.30%
Home Equity Loan4.80%
Simple Mortgage40.20%
Debt Free50.70%
As % of Housing Units
       
Median part of Monthly Household Income dedicated to covering home ownership costs12.6%