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Salem, VA Home Values and Rents
The typical home value in Salem is $308,856, 241st highest of 367 cities and towns in Virginia. Median rent is $1,574 a month.
- Typical home value
- $308,856
- 241st of 367 in VA
- Median rent
- $1,574/mo
- Zillow observed rent
- Price change, 1 year
- +3.8%
- Sep 2026
- Homeownership
- 62.8%
- VA: 67.3%
Home sale prices in the Roanoke, VA area
Zillow median sale price, Sep 2026
$302,675+8.1% from a year earlier
Half of homes in the metro area sold for more and half for less. Zillow publishes sale prices for metro areas, not for single counties or cities.
Typical home value in Salem
Zillow Home Value Index, all homes, middle tier
Show as a table
| Period | Salem |
|---|---|
| Sep 2026 | $308,856 |
| Dec 2025 | $302,543 |
| Dec 2024 | $293,042 |
| Dec 2023 | $277,776 |
| Dec 2022 | $262,981 |
| Dec 2021 | $233,122 |
| Dec 2020 | $215,490 |
| Dec 2019 | $195,206 |
| Dec 2018 | $182,850 |
| Dec 2017 | $176,662 |
| Dec 2016 | $172,062 |
| Dec 2015 | $169,018 |
| Dec 2014 | $166,854 |
| Dec 2013 | $164,989 |
| Dec 2012 | $164,558 |
Over five years, Salem prices changed +32.4%.
Source: Zillow Research · Last updated 09/01/2026
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Home values by ZIP code
Median home value and rent (ACS 2020-2024); price changes from the FHFA annual ZIP index
Swipe the table sideways to see more columns.
| # | ZIP code | Median value | Median rent | 1-year | 5-year |
|---|---|---|---|---|---|
| 1 | 24153 | $266,500 | $1,124 | +2.2% | +52.2% |
Fair Market Rents, FY2027
HUD rent standard for Roanoke, VA HUD Metro FMR Area
| Unit size | Monthly rent | vs FY2026 |
|---|---|---|
| Studio | $1,186 | +18.1% |
| 1 bedroom | $1,250 | +18.7% |
| 2 bedrooms | $1,464 | +16.7% |
| 3 bedrooms | $2,022 | +16.0% |
| 4 bedrooms | $2,447 | +16.3% |
Frequently asked questions
- What is the typical home value in Salem, VA?
- The typical home value in Salem is $308,856 (Zillow Home Value Index, Sep 2026). The Virginia median is $383,700.
- How much is rent in Salem?
- The median rent in Salem is $1,574 a month (Zillow Observed Rent Index). HUD's FY2027 Fair Market Rent for a two-bedroom unit is $1,464.
- Are home prices going up in Salem?
- The typical home value in Salem changed +3.8% over one year and +32.4% over five years, as of Sep 2026.
- How does Salem compare with the rest of Virginia?
- Salem has the 241st highest median home value of 367 cities and towns with 1,000+ residents in Virginia.
- Which ZIP code in Salem has the highest home values?
- ZIP code 24153 has the highest median home value at $266,500.