The story of this market
The typical home in ZIP 97304 sells for about $590,000, or $230 per square foot.
Prices are up +5.13% from a year ago, so sellers still have some momentum. Homes take about 22 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,910 a month.
ZIP 97304 — Salem (West Salem portion)
The 97304 housing market shows steady appreciation and moderate demand, supported by its proximity to Salem's employment core. While inventory remains tight, the market is balancing higher price points with a consistent flow of buyers seeking suburban living. Current conditions reflect a stable environment with modest year-over-year growth.
This ZIP is well-suited for family buyers and professionals working in Salem who prioritize suburban space and riverfront access over urban density.
Median prices moved up 5.1% year over year.
Homes spend a median of 22 days on market with 3.2 months of supply — a fast-moving market.
15% 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 3.8% · poverty 7.2% — 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 8.4%/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 6.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 97304, Polk 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.
The area is served by the Salem-Keizer School District, which maintains a mix of suburban schools with generally stable performance ratings.
The region faces moderate wildfire risk during summer months and standard flood-plain management requirements near the Willamette River.
Economic momentum is driven by state government employment in Salem and steady residential infill development in the West Salem area.
Property taxes are assessed by Polk County based on real market value, with rates subject to Oregon's Measure 5 and Measure 50 constitutional limitations.
Residents primarily commute via the Marion Street and Center Street bridges into downtown Salem, which can experience significant peak-hour congestion.
The area features extensive access to the Willamette River, Wallace Marine Park, and numerous neighborhood trails, with retail hubs concentrated along Edgewater Street NW.
The rental market shows moderate vacancy pressure with a trend toward higher asking rents, though investor yields are constrained by high entry prices.
The economy is anchored by state government, healthcare, and education sectors in the greater Salem area.
Transportation relies heavily on private vehicles, with limited public transit connectivity provided by Cherriots bus services.
Development is focused on residential density increases in West Salem to accommodate regional population growth.
The Polk County Assessor manages property valuations, adhering to state-mandated assessment cycles and tax-limitation measures.
Parcels are subject to Salem-Keizer School District levies and various local fire and utility district assessments.
Property insurance premiums are rising due to regional wildfire risk and general inflationary pressure on replacement 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 Forest4.712.7 mi
- Wings & Waves Waterpark4.114.1 mi
- Get Air Trampoline Park4.38.4 mi
- Chuck E. Cheese4.16.3 mi
- River Road City Park Splash Pad4.44 mi
- Wooden Shoe Tulip Farm4.719 mi
- Oregon State Fair & Exposition Center4.35.4 mi
- North American Aerospace Museum4.814.1 mi
- The Oregon Garden4.515.3 mi
- The Kroc Center - Salem, OR3.74.9 mi
- Oregon State Capitol4.45.6 mi
- Riverfront City Park4.75.1 mi
- Willamette Valley Vineyards4.812.8 mi
- Regal Willamette Town Center4.47 mi
- Keizer Rapids Park4.62.2 mi
- North American Aerospace Museum4.814.1 mi
- Gilbert House Children's Museum4.65 mi
- Bush's Pasture Park4.75.9 mi
- Willamette Heritage Center4.76 mi
- Powerland Heritage Park4.86.9 mi
- Riverfront City Park4.75.1 mi
- Keizer Rapids Park4.62.2 mi
- Minto-Brown Island Park4.75.5 mi
- Bush's Pasture Park4.75.9 mi
- Willamette Mission State Park4.66.4 mi
- Creekside Golf Club4.79.9 mi
- Illahe Hills Country Club4.66.6 mi
- Cross Creek Golf Course4.410.4 mi
- McNary Golf Club4.33.9 mi
- Meadowlawn4.18 mi
- WinCo Foods4.38.7 mi
- Fred Meyer4.16.8 mi
- Fred Meyer4.27.3 mi
- Keizer Station4.45.1 mi
- Salem Center4.15.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Large riverfront park with sports fields and boat ramps.
Primary commercial hub for the ZIP.
Major recreational corridor for boating and fishing.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.