ZIP Code Market Report
97306 — Salem, OR
Data through February 2026 · Updated monthly
Avg Home Value
$491,089
▲ 0.4% year-over-year
Month-over-Month
-0.2%
▼ 0.2%
Single Family
$496,231
Condo / Co-op
$302,270
The average home value in the 97306 ZIP code (Salem, Oregon) is $491,089 as of February 2026. Home prices are stable, up 0.4% compared to last year.
A 3-bedroom home in 97306 is valued at $457,248. Single-family homes average $496,231, while condos average $302,270.
The market in 97306 has a $253,916 spread between bottom-tier homes at $402,470 and top-tier homes at $656,386. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 97306 ZIP code will increase 0.0% over the next 12 months. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Marion County market area in Oregon. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Marion County report.
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Market Snapshot
97306 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $493,829 | $492,120 | $491,089 | ▼ 0.6% |
| Single Family Value | $494,256 | $495,382 | $496,231 | ▲ 0.4% |
Home Values
97306 Home Value Trend
Historical home values for ZIP code 97306. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 97306
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 2 Bedrooms | $350,278 |
| 3 Bedrooms | $457,248 |
| 4 Bedrooms | $590,099 |
Property Types
Home Values by Property Type in 97306
How different property types compare in this ZIP code.
All Homes
$491,089
Single Family
$496,231
Condo / Co-op
$302,270
Bottom Tier
$402,470
Top Tier
$656,386
Forecast
12-Month Home Value Forecast for 97306
Zillow projects home values in 97306 will increase 0.0% over the next year.
Current Value
$491,089
Projected Change
0.0%
▲ 0.0%
Projected Value
--
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 97306 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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