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City · 5,322 residents · Salem County, New Jersey

Salem , New Jersey

In Salem, a typical home is worth $79,800 and typical rent is $1,075 a month. Compared with all of Salem County, the typical home value is 67% lower, typical household income is 52% lower, and the share of households that own their home is 36 points lower.

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  • Typical home value

    $79,800

    67% below the county

    82% below New Jersey

    • Salem
    • County
    • New Jersey

  • Typical rent

    $1,075a month

    14% below the county

    38% below New Jersey

    • Salem
    • County
    • New Jersey

  • Typical household income

    $38,721a year

    52% below the county

    63% below New Jersey

    • Salem
    • County
    • New Jersey

  • Households that own their home

    35%

    36 points below the county

    29 points below New Jersey

    • Salem
    • County
    • New Jersey

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$233,458
about the same as 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Salem is in Salem County. The FHA loan limit ($630,200 for a one-unit home), the fair market rents and the help on this page are those of all of Salem County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Salem apart

What this place has that others do not, from public data, most unusual first.

  1. Salem has the lowest typical home value of the 293 cities in New Jersey with more than 5,000 people: $79,800.

  2. 35% of households in Salem own their home, against 71% in Salem County.

  3. Salem has the 2nd lowest typical household income of the 294 cities in New Jersey with more than 5,000 people ($38,721).

  4. Salem has the 6th lowest typical rent of the 283 cities in New Jersey with more than 5,000 people ($1,075).

  5. According to Zillow, in the 12 months to September 2026 the typical home value in Salem barely changed; in New Jersey, it rose 4%.

  6. 17% of households in Salem have no internet at home (7% in Salem County).

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Salem

What homes there are in Salem, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Salem there is a bit of everything: no kind of home reaches half. The most common are detached houses (36%); in Salem County, 74%.

Year built

In Salem, half of the homes were built before 1942; in Salem County, before 1962.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,588 a month

Salem County: $2,074 a month

Without a mortgage

$734 a month

Salem County: $1,009 a month

Owners with a mortgage

44%

Salem County: 57%

Owning costs less in Salem: with a mortgage, the typical cost is $1,588 a month; in Salem County, $2,074. Without one, $734.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Salem stayed about the same since 2015–2019: the Census sees no clear change.

Much as in Salem County, the typical rent in Salem rose 24% since 2015–2019.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureSalemSalem CountyNew JerseyUnited States
Rental vacancy Unreliable estimate6.3%3.5%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.7%0.9%
More than one person per room Unreliable estimate1.1%4.0%3.4%
People per household 2.222.572.622.53
Drive alone 63%80%62%69%
Carpool 21%7%8%9%
Public transit Unreliable estimate1%8%3%
Walk or bike Unreliable estimate1%3%3%
Work from home Unreliable estimate10%17%15%
Other means Unreliable estimate2%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

Fewer people live in each home here: 2.22 on average, against 2.57 in Salem County.

More people carpool to work in Salem than in Salem County: 21% against 7%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Salem?

A typical home is within reach of the typical income

We start with a typical home in Salem, worth $79,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 28% of the typical household income in Salem, which is $38,721 a year.

The calculator's FHA and conventional loan limits are those of all of Salem County.

Your numbers

Local data
$

Starts at the typical home value in Salem. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $2,793 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$903

at 7.18% · 30 years

Loan amount
$78,355
Total interest
$112,734
Paid off in
November 2056

Includes $1,348 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $903 a month

    Your payment · 28%

  • Tight

    $903 to $1,162 a month

  • Hard

    more than $1,162 a month

Compared with the typical household income in Salem ($38,721 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$903
Principal & interest$531
Property tax$304
Home insurance$33
FHA mortgage insurance (MIP)$35

You need at least $2,793 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Salem and Salem County

Salem is in Salem County, New Jersey. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Salem's own numbers

Typical home value
$79,800
Typical monthly rent
$1,075
Typical yearly household income
$38,721
Households that own their home
35%
Effective property tax rate
4.57%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Salem County

FHA limit, one-unit home
$630,200
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,860
Price change over 5 years (FHFA)
+69%
Homes in a high flood-risk zone
17%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Salem County.

Everything about Salem County

Buying

Buying a home in Salem

A typical home in Salem is worth $79,800: 67% below the county and 82% below New Jersey. With the typical household income in Salem ($38,721 a year), a typical home costs 2.1 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Salem 2.1 years
  • County 3.0 years
  • New Jersey 4.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Salem County

According to FHFA’s house price index, home prices in Salem County rose 79% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Salem County.

Period County New Jersey U.S.
Last year (2025) +4.6% +6.2% +2.9%
5 years (2020–2025) +69% +63% +47%
10 years (2015–2025) +79% +88% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Salem next to Salem County, New Jersey and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Salem $79,800
  • County $239,500
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Salem $1,075
  • County $1,253
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Salem $38,721
  • County $79,960
  • New Jersey $103,556
  • United States $80,734
See the full table
Salem next to Salem County and New Jersey
Measure Salem Salem County New Jersey U.S.
Typical home value $79,800 $239,500 $454,400 $332,700
Typical monthly rent $1,075 $1,253 $1,720 $1,413
Typical yearly household income $38,721 $79,960 $103,556 $80,734
Households that own their home 35% 71% 64% 65%
Typical yearly property tax $3,648 $7,018 $9,590 $3,119
Effective property tax rate 4.57% 2.93% 2.11% 0.94%
Renters with high rent for their income 64% 55% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Salem County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Salem

For a typical $79,800 home in Salem, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Salem's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $903a month

    Least cash to close
    Down payment
    $2,793
    Cash to close
    $5,187
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $35

  • Conventional, 5% down $889a month

    Down payment
    $3,990
    Cash to close
    $6,384
    Rate
    7.18%
    Mortgage insurance
    PMI · $38

  • Conventional, 20% down, no PMI $770a month

    Down payment
    $15,960
    Cash to close
    $18,354
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $843a month

    Down payment
    $11,970
    Cash to close
    $14,364
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Salem and for Salem County.

Property tax

Effective rate in Salem

4.57%of the home’s value each year

$3,648 a year for the typical owner in Salem.

  • Salem 4.57%
  • County 2.93%
  • New Jersey 2.11%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Flood risk in Salem County

FEMA does not publish these numbers by city: they are for all of Salem County.

Homes in the high-risk zone
17%
3,723
Of those, with NFIP insurance
39%
County New Jersey U.S.
Homes in the high-risk zone 17% 6.7% 3.5%
Of those, with NFIP insurance 39% 63% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Salem

Typical rent in Salem is $1,075 a month: 14% below the county. In Salem, 64% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Salem County, by unit size. To pay the 2-bedroom one ($1,860 a month) without spending more than 30% of your income, you would need to earn $35.77 an hour working full time.

HUD fair market rent for all of Salem County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,438 $27.65 $57,520
1 bedroom $1,558 $29.96 $62,320
2 bedrooms $1,860 $35.77 $74,400
3 bedrooms $2,216 $42.62 $88,640
4 bedrooms $2,445 $47.02 $97,800

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Salem

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Salem is in ZIP code 08079.

For 2 bedrooms it is $1,460: $400 less than the fair market rent for Salem County ($1,860).

  • 08079 $1,460$1,740

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Salem when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Salem

HUD lists 10 buildings with rents for lower incomes in Salem. These are the largest.

  • Westside CT/Broadway TWS 70 Anderson Dr, Salem 08079 210 homes, 180 low-income · Run by Salem Housing Authority · Average payment: $317 a month · Average wait: 15 months · Homes at several sites (856) 935-5022
  • Whispering Waters Apartments - Phase II 469 Grieves Pkwy, Salem 140 homes, 138 low-income · In service since 2008
  • Whispering Waters I 469 Grieves Pkwy, Salem 120 low-income homes · In service since 2010
  • Salem Senior Village 155 W Broadway, Salem 64 low-income homes · In service since 2006 · For older adults
  • Salem Historic Homes Phase I 90 Carpenter St, Salem 63 low-income homes · In service since 2003

See all 25 buildings in Salem County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Salem

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Salem County. The nearest ones are below; many serve by phone or online.

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in Salem

No down payment, repair or rent-help program on our list is for Salem or Salem County. The ones below are statewide in New Jersey: they work in Salem the same as in the rest of the state.

Which programs do I qualify for? All programs in New Jersey

Housing counselors near Salem

The HUD-approved agencies closest to the center of Salem, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Financial Wellness Institute Inc

    3 S Broad St, Woodbury · 25 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 6 more
    (856) 251-0311

  • Neighborhood Housing Services of Camden, Inc

    601-603 Clinton Street, Camden · 32 miles away · Spanish

    Also serves in Vietnamese.

    • Budget and financial counseling
    • Fair housing pre-purchase workshops
    • and 5 more
    (856) 541-0720

  • Parkside Business and Community in Partnership, Inc.

    1487 Kenwood Avenue, Camden · 32 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 3 more
    856-964-0440-15

All counseling agencies in New Jersey

Help in Spanish near Salem

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Salem

HUD’s record names them for Salem or Salem County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Salem Housing Authority Public housing and Section 8 vouchers (856) 935-5022

One other authority has an office in Salem County: see the list Source: HUD

Cities

Other cities in Salem County

These cities are also in Salem County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Salem County Housing in New Jersey

Nearby cities

The cities closest to Salem, with the typical home value.

Neighboring counties

If Salem County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Salem.

All guides
Two girls write and draw together at the living-room table.

Questions

Housing questions about Salem

Short answers with the numbers for Salem and all of Salem County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Salem?

The typical home value in Salem is $79,800, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Salem County it is $239,500.

How much does it cost to rent in Salem?

Typical rent in Salem is $1,075 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Salem County is $1,860.

What is the FHA loan limit in Salem?

Salem uses the FHA limit for all of Salem County (2026): $630,200 for a one-unit home and $1,211,950 for a four-unit home.

How much property tax do owners pay in Salem?

The typical homeowner in Salem pays $3,648 a year, according to the U.S. Census Bureau. That is 4.57% of the home’s value; in Salem County, the rate is 2.93%.

Where can I find free help to buy or rent in Salem?

We found no HUD-approved counseling agencies with an office in Salem County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).