Salem County, New Jersey Housing Market Prices
Salem County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 58% below the New Jersey median Cheapest county in New Jersey$146,481
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Median rent 27% below the New Jersey median Cheapest county in New Jersey$1,253
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Salem County | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $146,481 | $352,792 | $248,835 |
| Price Trend (Annual %) | -1.5% | 4.4% | 7.5% |
| Median Gross Rent | $1,253 | $1,719 | $1,407 |
| Rent Trend (Annual %) | 3.2% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Salem County is about 58% lower than in New Jersey. Rent is about 27% lower than the New Jersey average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Salem County: home prices fell about 1.5% a year while rent rose about 3.2% a year. That is an unusual pattern worth watching.
Median rent in Salem County rose about 28.7% between 2015 and 2024, from $974 to $1,253. Over the same span, rent in New Jersey rose about 44.3%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Salem County.
Buying the median-priced home in Salem County costs roughly 9.7 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Salem County. The price-to-rent ratio in New Jersey is about 17.1.
| Metric | Salem County | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $146,481 | $352,792 | $248,835 |
| Median Household Income | $82,265 | $103,817 | $80,455 |
| Price-to-Income Ratio | 1.8 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Salem County fell about 21.5%, while median household income rose about 32.5% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Salem County | New Jersey Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.6% | 59.1% | 58.5% |
| Rental Rate | 26.0% | 33.5% | 31.2% |
| Vacancy Rate | 10.4% | 7.5% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Salem County has a homeownership rate of 63.6%, higher than the New Jersey average of 59.1%. Its housing vacancy rate is 10.4%, compared with 7.5% in New Jersey.
Housing Stock
| Metric | Salem County | New Jersey Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.57 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1969 | 1968 | 1978 |
| Median Number of Rooms | 6.1 | 5.7 | 5.5 |
The typical housing unit in Salem County was built around 1969. On average, 2.6 people live in a home with about 6.1 rooms, staying for about 18.0 years on average.
Salem County, NJ Housing Compared With Nearby Counties
Salem County, NJ is the smallest of the 6 counties compared here, 65,196 residents against a local median of 526,561. Salem County, NJ's median home price, at $146,481, runs 25% below the $194,369 typical of the counties around it.
The counties themselves spread $61,389 on median home price, so Salem County, NJ sits at one end of an already wide local range rather than apart from it. Salem County, NJ has the 6th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Salem County, NJ | 65,196 | $146,481 #6/6 | $1,253 #6/6 | 71.0% #2/6 |
| Gloucester County, NJ | 306,962 | $186,863 | $1,530 | 80.1% |
| New Castle County, DE | 577,338 | $220,844 | $1,448 | 69.0% |
| Cumberland County, NJ | 153,308 | $178,114 | $1,282 | 66.5% |
| Delaware County, PA | 578,234 | $194,369 | $1,372 | 69.6% |
| Camden County, NJ | 526,561 | $239,503 | $1,402 | 64.7% |
Frequently Asked Questions
Common questions about the housing market in Salem County, New Jersey.
What is the median home price in Salem County, New Jersey?
The median home price in Salem County, New Jersey is $146,481, lower than the New Jersey average of $352,792.
What is the average home price in Salem County, New Jersey?
The typical home price in Salem County, New Jersey, reported as the median sale price, is $146,481. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Salem County, New Jersey?
The median gross rent in Salem County, New Jersey is $1,253 per month, lower than the New Jersey average of $1,719.
What was the median gross rent in Salem County in 2020?
In 2020, the median gross rent in Salem County, New Jersey was $1,024 per month.
What is the price-to-rent ratio in Salem County, New Jersey?
The price-to-rent ratio in Salem County, New Jersey is about 9.7, meaning it would take roughly 9.7 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Salem County.
Are home prices or rent rising faster in Salem County, New Jersey?
Home prices and rent are moving in opposite directions in Salem County: home prices fell about 1.5% a year while rent rose about 3.2% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Salem County, New Jersey?
63.6% of households in Salem County, New Jersey own their home, higher than the New Jersey average of 59.1%.
What is the vacancy rate in Salem County, New Jersey?
The housing vacancy rate in Salem County, New Jersey is 10.4%, higher than the New Jersey average of 7.5%.
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