Salem, MA Real Estate
According to census data in the year 2000 there were 18,175 housing units in Salem.
This represents a 5.9% growth from 17,161 in 1990.
Of those housing units, 18,175 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 49.1%.
Salem's vacancy rate, including seasonal lodging, is about 3.8%.
Average household size is 2.24 people.
The majority of houses, apartments or condos in Salem were built after 1939.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 3.20% |
| One Bedroom | 20.70% |
| Two Bedrooms | 39% |
| Three Bedrooms | 25.90% |
| Four Bedrooms | 8.30% |
| Five Bedrooms or more | 2.90% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.5 |
| Median year structure was built | 1939 |
| Median Value of occupied units | $188,700 |
| Median Price asked for vacant units | $181,900 |
Rented Homes, Apartments and Condos
| Average Household Size | 2 |
| Median year structure was built | 1939 |
| Median Monthly Rent asked for vacant units | $719 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.40% |
| Second Mortgage | 4.70% |
| Home Equity Loan | 9.50% |
| Simple Mortgage | 52.90% |
| Debt Free | 32.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 20.6% |
