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Salem, IL Home Values and Rents
The typical home value in Salem is $147,060, 557th highest of 696 cities and towns in Illinois. Median rent is $774 a month.
- Typical home value
- $147,060
- 557th of 696 in IL
- Median rent
- $774/mo
- ACS 2020-2024
- Price change, 1 year
- +5.7%
- Sep 2026
- Homeownership
- 65.0%
- IL: 67.1%
Typical home value in Salem
Zillow Home Value Index, all homes, middle tier
Show as a table
| Period | Salem |
|---|---|
| Sep 2026 | $147,060 |
| Dec 2025 | $143,619 |
| Dec 2024 | $136,348 |
| Dec 2023 | $130,401 |
| Dec 2022 | $122,618 |
| Dec 2021 | $113,660 |
| Dec 2020 | $105,602 |
| Dec 2019 | $92,694 |
| Dec 2018 | $90,965 |
| Dec 2017 | $95,478 |
| Dec 2016 | $91,230 |
Over five years, Salem prices changed +29.7%.
Source: Zillow Research · Last updated 09/01/2026
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Fair Market Rents, FY2027
HUD rent standard for Marion County, IL
| Unit size | Monthly rent | vs FY2026 |
|---|---|---|
| Studio | $661 | -0.2% |
| 1 bedroom | $767 | -0.3% |
| 2 bedrooms | $930 | +1.5% |
| 3 bedrooms | $1,210 | +1.7% |
| 4 bedrooms | $1,554 | +1.1% |
Frequently asked questions
- What is the typical home value in Salem, IL?
- The typical home value in Salem is $147,060 (Zillow Home Value Index, Sep 2026). The Illinois median is $263,300.
- How much is rent in Salem?
- The median rent in Salem is $774 a month, including utilities paid by the renter. HUD's FY2027 Fair Market Rent for a two-bedroom unit is $930.
- Are home prices going up in Salem?
- The typical home value in Salem changed +5.7% over one year and +29.7% over five years, as of Sep 2026.
- How does Salem compare with the rest of Illinois?
- Salem has the 557th highest median home value of 696 cities and towns with 1,000+ residents in Illinois.