Salem County, New Jersey Housing Market
In Salem County, New Jersey, the median home value is $239,500, with a median monthly rent of $1,253. This places Salem County at #989 nationally out of 3134 counties by median home value, and #20 within New Jersey.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,363
- Establishments: 1,420
- BLS QCEW, 2025
Housing Supply
- Single-family: 77
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 26,536 (avg $80,215)
- Outflow: 25,386 (avg $80,911)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Salem County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 08069 | 251.4 | +5.24% | 2025 |
| 2 | 08070 | 252.1 | +5.06% | 2025 |
| 3 | 08079 | 226.0 | +7.32% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Salem County Compares
| Metric | Salem County | New Jersey Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $239,500 | $430,014 | $227,706 |
| Median Gross Rent | $1,253 | $1,634 | $968 |
| Owner Occupancy Rate | 71.0% | 68.3% | 73.3% |
| Price/Rent Ratio | 15.9 | 21.6 | 18.7 |
Market Analysis
The median home value in Salem County is 44.3% below the New Jersey state average and 5.2% above the U.S. national average. The median rent of $1,253/month is 23.3% below the state average.
With a price-to-rent ratio of 15.9, the buy-vs-rent decision in Salem County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Salem County has an owner-occupancy rate of 71.0%, compared to 68.3% in New Jersey and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Kit Carson County | Colorado | $239,500 | $973 |
| Rio Grande County | Colorado | $239,500 | $945 |
| Jackson County | Colorado | $239,600 | $1,701 |
| Knox County | Ohio | $239,400 | $950 |
| Anderson County | Tennessee | $239,400 | $1,031 |
Other Counties in New Jersey
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Cumberland County | $221,400 | $1,282 | 66.5% |
| Camden County | $287,100 | $1,402 | 64.7% |
| Atlantic County | $295,000 | $1,376 | 68.7% |
| Gloucester County | $310,400 | $1,531 | 80.1% |
| Warren County | $346,500 | $1,409 | 75.1% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).