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Salem County Housing Market

New Jersey · 21 counties · Ranked #2163 in home value

Below National AvgAffordable

Housing at a Glance

Median Home Value

$223,000

vs national$223,000 vs $281,900 national

Median Gross Rent

$1,185/mo

vs national+$1,185 vs $1,163 national

Effective Tax Rate

3.03%

vs national+3.03% vs 1.02% national

Median Household Income

$78,412

vs national+$78,412 vs $74,755 national

Affordability Ratio

2.8x

Home value ÷ income. <3 = affordable, >5 = expensive.

Rent Burden

32.0%

% of income spent on rent. >30% = burdened.

More Housing Data

Property Tax (Median)

$6,757

Tax as % of Home Value

3.03%

Monthly Owner Cost

$1,528

Renter Income

$40,910

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Mortgage

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Similar Counties by Home Value

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Frequently Asked Questions

What is the median home value in Salem County?

The median home value in Salem County is $223,000. This is below the national median of $281,900.

How much is rent in Salem County?

The median gross rent in Salem County is $1,185 per month.

What is the property tax rate in Salem County?

The effective property tax rate in Salem County is 3.03%. The median annual property tax bill is $6,757.

Is Salem County affordable?

With a home-value-to-income ratio of 2.8x, Salem County is considered affordable compared to the recommended 3-4x guideline.

Data: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.