The story of this market
The typical home in ZIP 97302 sells for about $449,655, or $266 per square foot.
Prices are roughly flat from a year ago (-0.075%), a market in balance. Homes take about 56 days to sell. HUD's fair market rent for a two-bedroom is $1,385 a month.
ZIP 97302 — Salem
The 97302 housing market is currently balanced, with stable pricing and moderate inventory levels. While year-over-year price growth has flattened, the market remains competitive for well-priced, move-in-ready homes. High interest rates continue to influence buyer activity, keeping the market in a steady, non-volatile state.
This ZIP is ideal for families and professionals seeking a balance between urban convenience and suburban space. It attracts long-term residents and commuters who value proximity to state government employment and outdoor recreation.
Median prices moved down 0.1% year over year.
Homes spend a median of 56 days on market with 2.4 months of supply — a fast-moving market.
24% of listings have cut prices · homes sell at 99.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.9% · poverty 9.6% — 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 7.0%/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 7.1%/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 97302, 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 trends in Salem are generally consistent with regional averages for mid-sized Pacific Northwest cities, with property crime remaining the primary concern. Safety perceptions vary by neighborhood, but the area is considered typical for the Willamette Valley.
Schools serving the 97302 area are part of the Salem-Keizer Public Schools district, which provides a diverse range of educational options. Performance ratings are generally moderate, reflecting the district's broad demographic reach.
The area faces moderate risks from seasonal wildfire smoke and occasional winter storm events. Flood risk is primarily concentrated along the Willamette River corridor, with most residential parcels in 97302 situated outside high-risk flood zones.
Economic momentum is driven by the state capital's government sector, healthcare, and a growing food and beverage manufacturing base. Infrastructure development focuses on improving transit connectivity within the Salem-Keizer metropolitan area.
Property taxes are assessed by Marion County based on real market value, subject to Oregon's constitutional limits on assessed value growth. Tax rates include local levies for schools, city services, and special districts like fire and transit.
Residents in 97302 benefit from direct access to I-5 and OR-22, facilitating commutes to downtown Salem and the broader Willamette Valley. Public transit is provided by Cherriots, offering bus service throughout the city.
The ZIP features significant access to Minto-Brown Island Park, one of the largest urban parks in Oregon, offering extensive trails and river frontage. Shopping and dining are concentrated along the Commercial Street corridor.
The rental market is characterized by steady demand driven by the state capital's workforce and university presence. Vacancy rates remain low, and rent growth has stabilized following recent inflationary periods.
The economy is anchored by the State of Oregon government offices, Salem Health, and a diverse mix of manufacturing and agricultural processing firms. The area benefits from stable employment levels typical of a state capital.
The area is served by a network of arterial roads and the Cherriots bus system, with I-5 providing the primary north-south corridor. Infrastructure planning emphasizes multi-modal transit improvements.
Development is focused on infill projects and the revitalization of older commercial corridors to increase housing density. Major projects are generally small-to-medium scale mixed-use developments.
Parcels are subject to Salem-Keizer School District taxes, as well as local fire and emergency service district levies.
Property insurance premiums are rising due to regional wildfire risk and general inflationary pressures on construction costs.
Data retrieved from data.census.gov ZCTA-level tables.
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.
- Enchanted Forest4.76.2 mi
- Get Air Trampoline Park4.35 mi
- Chuck E. Cheese4.16.5 mi
- River Road City Park Splash Pad4.45.1 mi
- Oregon Axe4.93.7 mi
- Oregon State Fair & Exposition Center4.35.2 mi
- The Oregon Garden4.515.7 mi
- The Kroc Center - Salem, OR3.76.1 mi
- Salem Convention Center4.63.1 mi
- Linn County Expo Center4.518.2 mi
- Oregon State Capitol4.43.5 mi
- Willamette Valley Vineyards4.86.3 mi
- Riverfront City Park4.73.2 mi
- Regal Willamette Town Center4.45.3 mi
- Keizer Rapids Park4.66.3 mi
- Gilbert House Children's Museum4.63.5 mi
- Bush's Pasture Park4.73 mi
- Willamette Heritage Center4.73.4 mi
- Powerland Heritage Park4.811.3 mi
- Historic Carousel & Museum4.818.5 mi
- Riverfront City Park4.73.2 mi
- Keizer Rapids Park4.66.3 mi
- Minto-Brown Island Park4.71.5 mi
- Bush's Pasture Park4.73 mi
- Santiam River Southbound Rest Area4.211.4 mi
- Creekside Golf Club4.73.4 mi
- Illahe Hills Country Club4.61.3 mi
- Cross Creek Golf Course4.412.5 mi
- McNary Golf Club4.38 mi
- Meadowlawn4.14.9 mi
- WinCo Foods4.35.3 mi
- Fred Meyer4.15.6 mi
- Fred Meyer4.22 mi
- Keizer Station4.48.4 mi
- Salem Center4.13.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A massive 1,200-acre park with extensive trails and river access.
Historic park featuring gardens, trails, and the Bush House Museum.
The primary retail and dining artery serving the South Salem area.
No county-record distress flags across 1 researched property on the ARED base layer. Key-figure check: median price diverges 78.2% from the nearest retained anchor (researched-property base layer) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: confirmed genuine market swing — the flagged $449,655 was independently re-read and corroborated by 2 source(s); it stands as the new anchor baseline.