97305, Salem, OR

The 97305 zip code of Salem, OR has a median home value of $224,000. This is a decrease from the median home value of $248,000 in 2016. The decrease in home values may be due to the current market conditions or it could be that there are more homes for sale in this zip code than there were a year ago.

Home equity is important to many people and homeownership is one way to build up equity in one's home. Home equity can also be used as collateral for loans or as part of a down payment on a new home. In general, the higher the home value, the more equity an individual has in their home.

Salem is located in Oregon and has been experiencing an increase in population over the past few years which may have contributed to the increase in home values. There are also many families who have been able to purchase their homes within their budget which may also contribute to increased prices.