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Property-class scope

The story of this market

The typical home in ZIP 97338 sells for about $466,534, or $266 per square foot.

Prices are up +1.5% from a year ago, so sellers still have some momentum. Homes take about 28 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,692 a month.

ZIP market report · consumer edition · quarterly refresh

Track this ZIP

ZIP 97338

Polk County →Salem marketrefreshed Sep 26, 20262 cycles retainednext refresh Oct 26, 2026

Market mood · neutral

The housing market in 97338 shows modest appreciation with a median home value of $466,534. Market activity is characterized by a moderate pace of sales with homes typically pending in 28 days.

Parent geography

Polk County →Salem market →Oregon state →

Aerial view · ZIP boundaries2020 Census ZCTA boundary over current aerial imagery

Leaflet Imagery © Esri, Maxar, Earthstar Geographics

Land area · 323.3 km²Water area · 0.5 km²U.S. Census Bureau TIGERweb — 2020 Census ZCTA5 boundary

Median sale price

$466,534

+1.5% year over year

Corroboration pending — anchor baseline forms on the first refresh cycles

Days on market

28 days

Active listings

102

ZIP Market ScoreZIP-SCORE-1.3 · 4/4 sections graded

Composite · average of graded sections

Computed only from this report's published readings — sections without data are excluded, never estimated.

Growth/100

Median prices moved up 1.5% year over year.

Liquidity/100

Homes spend a median of 28 days on market with 0.0 months of supply — a fast-moving market.

Momentum/100

0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.

Safety & stability/100

no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.3% · poverty 13.3% — a stable, low-distress profile.

Census trends · population flows

Population base

23,419

ZIP code tabulation area 97338

Immigration & foreign-bornU.S. Census Bureau ACS · ZIP granular

Foreign-born share

3.6%

Foreign-born residents

847

Naturalized (of foreign-born)

58.6%

Non-citizens (of population)

1.5%

Entered 2010 or later (of foreign-born)

10.7%

World region of birth (foreign-born)

Americas

62.3%

Europe

14.6%

Oceania

13.8%

Asia

8.7%

Africa

0.5%

ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.

Discovery profile

Census profile · ZIP code tabulation area 97338

Population

23,419

Median age

42.1 yrs

Median year built

1987

Unemployment

6.3%

Poverty rate

13.3%