The story of this market
The typical home in ZIP 97020 sells for about $527,475, or $255 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,650 a month.
ZIP 97020 — Donald
The Salem housing market is currently experiencing a period of stabilization with moderate price growth and balanced inventory levels. Demand remains steady, supported by local employment stability, though higher interest rates have tempered the rapid appreciation seen in previous years.
This area is well-suited for families and professionals seeking a balance between urban amenities and suburban affordability, particularly those working in the state capital or regional healthcare sectors.
Median prices moved up 3.2% year over year.
Homes spend a median of 45 days on market with 3.8 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.2% · poverty 11.5% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 10.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 97020, Marion County OR
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the Salem area are generally consistent with regional averages for mid-sized cities in the Pacific Northwest, with property crime remaining the primary concern.
Schools serving the area are part of the Salem-Keizer Public Schools district, which offers a diverse range of academic and vocational programs with varying performance ratings across individual campuses.
The region faces moderate risks from winter storms and potential flooding in low-lying areas near the Willamette River, with wildfire smoke occasionally impacting air quality during summer months.
Economic momentum is driven by state government employment, healthcare, and a growing food processing sector, supported by ongoing infrastructure improvements in the I-5 corridor.
Property taxes are assessed by the county based on real market value, with rates determined by local levies and voter-approved bonds; Oregon does not impose a general sales tax.
Residents typically rely on personal vehicles for commuting, with I-5 serving as the primary north-south artery connecting to the broader Willamette Valley employment centers.
The area features extensive access to the Willamette River for boating and fishing, numerous municipal parks, and proximity to the scenic trails of the Cascade foothills.
The rental market is characterized by moderate vacancy pressure and consistent demand, with a mix of long-term residential rentals and limited short-term vacation inventory.
The economy is anchored by the State of Oregon government offices, Salem Health, and a robust agricultural and food processing industry.
The area is served by the Cherriots transit system and is positioned along the I-5 corridor, providing regional connectivity.
Development is currently focused on urban renewal projects in the downtown core and transit-oriented housing near major corridors.
The Marion County Assessor manages property valuations, with assessments typically reflecting market value adjusted by state-mandated ratios.
Parcels are subject to various special districts including fire, water, and the Salem-Keizer school district levies.
Property insurance premiums are influenced by regional wildfire risk assessments and flood zone designations near the Willamette River.
Oregon continues to see net domestic migration, though the pace has moderated compared to the previous decade.
Oregon is primarily a non-judicial foreclosure state, with specific notice and mediation requirements for residential properties.
Sellers are required to provide a comprehensive property disclosure statement covering material defects and known issues.
Data retrieved from data.census.gov for ZCTA 97020 and surrounding Salem metro area.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Oaks Amusement Park4.419.3 mi
- Wings & Waves Waterpark4.115.1 mi
- Langer's Entertainment Center4.49.7 mi
- Bullwinkle's4.47 mi
- Sky Zone Trampoline Park3.817.1 mi
- Wooden Shoe Tulip Farm4.78.5 mi
- Oaks Amusement Park4.419.3 mi
- North American Aerospace Museum4.814.9 mi
- Oregon State Fair & Exposition Center4.320 mi
- Langer's Entertainment Center4.49.7 mi
- Wooden Shoe Tulip Farm4.78.5 mi
- Langer's Entertainment Center4.49.7 mi
- Bullwinkle's4.47 mi
- Cook Family Park4.712.4 mi
- Regal Bridgeport Village4.212.8 mi
- North American Aerospace Museum4.814.9 mi
- Ole Bolle Troll4.916.5 mi
- Multnomah Arts Center4.518.1 mi
- Historic Oregon City4.515.5 mi
- Nordic Northwest4.816.5 mi
- Cook Family Park4.712.4 mi
- Champoeg State Park4.72.7 mi
- Memorial Park4.76.5 mi
- Tualatin River National Wildlife Refuge Visitor Center4.711 mi
- Tualatin Community Park4.711.8 mi
- eNRG Kayaking4.815.1 mi
- River City Boat Sales & Marine Services4.85.7 mi
- Langdon Farms Golf Club4.55 mi
- Charbonneau Golf Club4.46 mi
- OGA Golf Course4.64.4 mi
- Chehalem Glenn Golf Course4.37.1 mi
- The Oregon Golf Club4.611.1 mi
- Woodburn Premium Outlets4.45 mi
- Bridgeport Village4.412.7 mi
- Wooden Shoe Tulip Farm4.78.5 mi
- Fred Meyer4.111.7 mi
- Bauman's Farm and Garden4.68.1 mi
- Portland International Airport4.527.8 mi
- Providence Saint Vincent Hospital Heliport4.620.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
One of the largest urban parks in Oregon, offering extensive trails and wildlife viewing.
Historic private university serving as a cultural and educational anchor.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.