ZIP Code Market Report
97301 — Salem, OR
Data through February 2026 · Updated monthly
Avg Home Value
$365,693
▼ 0.4% year-over-year
Month-over-Month
-0.3%
▼ 0.3%
Single Family
$367,083
Condo / Co-op
$275,424
The average home value in the 97301 ZIP code (Salem, OREGON) is $365,693 as of February 2026. Home prices are stable, down 0.4% compared to last year.
A 3-bedroom home in 97301 is valued at $372,201. 1-bedroom units start around $260,044. Single-family homes average $367,083, while condos average $275,424.
The market in 97301 has a $119,179 spread between bottom-tier homes at $309,353 and top-tier homes at $428,532. 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 97301 ZIP code will decrease 0.1% over the next 12 months, bringing the projected average to approximately $365,327. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Polk County market area in OREGON. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Polk County report.
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Market Snapshot
97301 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 | $368,543 | $366,922 | $365,693 | ▼ 0.8% |
| Single Family Value | $365,984 | $366,589 | $367,083 | ▲ 0.3% |
Home Values
97301 Home Value Trend
Historical home values for ZIP code 97301. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 97301
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 1 Bedroom | $260,044 |
| 2 Bedrooms | $313,183 |
| 3 Bedrooms | $372,201 |
| 4 Bedrooms | $421,291 |
Property Types
Home Values by Property Type in 97301
How different property types compare in this ZIP code.
All Homes
$365,693
Single Family
$367,083
Condo / Co-op
$275,424
Bottom Tier
$309,353
Top Tier
$428,532
Forecast
12-Month Home Value Forecast for 97301
Zillow projects home values in 97301 will decrease 0.1% over the next year, reaching approximately $365,327.
Current Value
$365,693
Projected Change
-0.1%
▼ 0.1%
Projected Value
$365,327
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 97301 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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