Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$297,450+3.1% YoY · prices are rising fast
Market right nowBuyer's marketMore homes for sale than last year, 24% have cut their price
Income needed to buy, per year$64,481About 0.8× the local median income ($81,009): affordable for a typical household
Days on market57 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.0%Zillow expects prices to rise slightly
The typical home in Salem County, NJ is worth $297,450, up 3.1% from a year ago. That is well above what local incomes have historically supported: fair value is about $265,583, so the area is 12.0% overvalued. It is a buyer's market: homes take about 57 days to sell, listings are up 12% from a year ago, 24% of listings have had a price cut. Zillow expects prices to rise about 2.0% over the next year. A household needs about $64,481 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $81,009. Typical rent is $1,747 a month, or $2,103 for a house. In the latest IRS figures, 371 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$297,450
Change in 1 year
+3.1%
Overvalued %
+12.0%
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Fair home value
$265,583
Change in 5 years
+33.3%
Zillow forecast, next 12 months
+2.0%
Home value to income
3.7×
Monthly mortgage payment (20% down)
$1,612
Income needed to afford it
$64,481
Property tax rate
2.93%
Rent and investing
Typical rent
$1,747
Typical rent for houses
$2,103
Price-to-rent ratio
14.2×
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HUD Fair Market Rent, 2 bedrooms
$1,860
Gross rental yield
7.05%
Cap rate (estimate)
4.58%
Market activity
Listings vs a year ago
+12.0%
Days on market
57
Listings with a price cut
24.4%
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Homes for sale
234
Pending sales per 100 listings
39
Asking price per sq ft
$187
People and jobs
Median household income
$81,009
Population change (1 year)
+0.5%
Unemployment rate
7.4%
Show 4 more
Population
66,280
Income adjusted for cost of living
$78,956
Net moves in (IRS)
+371
Cost of living (US = 100)
102.6
Schools, risk and environment
School rating (1 to 10)
4.0
FEMA hazard risk score (0 to 100)
76.5
Flood risk score
95.8
Show 3 more
Wildfire risk score
68.1
Walkability (1 to 20)
9.4
Road, rail and air noise
54 dB
Questions people ask
Is Salem County, NJ overvalued?
Home prices in Salem County, NJ are well above what local incomes have historically supported: fair value is about $265,583, so the area is 12.0% overvalued.
Is Salem County, NJ a buyer's or seller's market?
Salem County, NJ is a buyer's market: homes take about 57 days to sell, listings are up 12% from a year ago, 24% of listings have had a price cut.
Are home prices going down in Salem County, NJ?
Home values in Salem County, NJ are up 3.1% over the last year. Zillow's forecast for the next 12 months is +2.0%.
How much do you need to earn to buy a home in Salem County, NJ?
A household needs about $64,481 a year to afford the typical home in Salem County, NJ at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $81,009.