Mortgage payment estimates, closing cost breakdowns, and homebuying data for Salem, Oregon.
Pre-filled with Salem median home price and Oregon tax/insurance rates. Adjust for your property.
Estimated closing costs based on Oregon rates and fees applied to Salem prices.
The median home price in Salem is $375,000, 22% below the Oregon state median of $480,000. With a population of 178,510, Salem is a mid-size city where home prices tend to be more accessible than in many parts of Oregon.
Property taxes in Oregon average 0.93% annually. This moderate property tax rate means a $375,000 home in Salem would carry roughly $291/month in property taxes. Homeowners insurance in Oregon runs approximately $1,400 per year. This is within the normal range nationally.
Average rent in Salem is $1,380/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Salem presents moderate affordability. The $375K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.