97303, Salem, OR

Salem, Oregon is a city located in the state of Oregon. According to the 2010 census, Salem has a population of about 128,000 people. The 97303 zip code covers much of the city and has a population of about 41,000 people.

The median home value in the 97303 zip code is $269,700 which is about $102/per square foot. The average home value in this zip code has increased by about 22% since 2005 when it was valued at $236,200. This increase can be partially attributed to an increase in home prices statewide but also due to an increase in demand for homes within this zip code.

Home equity is important for many reasons including helping homeowners pay down debt or save for future goals. Home equity can also be used as collateral for loans which can help individuals purchase a new home or improve their current one. In general, homeownership rates are highest in areas with low unemployment and strong economic growth prospects.

According to Zillow’s 2018 Home Value Index report, the 97303 zip code ranks #2 out of all 50 U.S. states with the highest percentage of homes worth over $1 million (10%). Additionally, this area ranks #4 out of all 50 U.S. states with the highest percentage of homes worth over $500K (25%). These high values may be due to strong job growth prospects and low levels of unemployment within this area which makes it more desirable for potential buyers and renters alike