How much house does $500,000 buy you in Salem?
Back in 2014, spending $500,000 on a house was generally reserved for high earners. The typical U.S. home sold for $159,000, while starter homes averaged just $101,000. Fast-forward to today, and prices have more than doubled: A standard home now sells for $440,000, with starter homes approaching $300,000.
These current prices have put homeownership out of reach for many – and things don't look to be improving. Prices are still rising, affordability keeps dropping, and starter homes are becoming harder to find as home values climb. This has created a very sluggish and difficult housing market. In fact, even the usual busy spring and summer buying seasons were unusually slow this year.
While $500,000 once stretched much further, in many cities today, it's not nearly enough. But what about Salem?
To find out, Redfin Real Estate found listings near the $500,000 mark to see what types of homes you can actually afford in Salem right now. Listings below $500,000 were included if necessary.
521 Chemawa Rd N, Keizer, OR 97303
- Price: $499,900
- 5 bedrooms, 3 bathrooms
- Square feet: 3,697
- See 521 Chemawa Rd N, Keizer, OR 97303 on Redfin.com
1670 B St Ne, Salem, OR 97301
- Price: $499,000
- 4 bedrooms, 3 bathrooms
- Square feet: 2,548
- See 1670 B St Ne, Salem, OR 97301 on Redfin.com
355 Khartoum St Se, Salem, OR 97306
- Price: $499,000
- 4 bedrooms, 3 bathrooms
- Square feet: 2,407
- See 355 Khartoum St Se, Salem, OR 97306 on Redfin.com
5949 Summerside St Se, Salem, OR 97306
- Price: $499,990
- 4 bedrooms, 3 bathrooms
- Square feet: 1,863
- See 5949 Summerside St Se, Salem, OR 97306 on Redfin.com
1122 Parkside Ave, Woodburn, OR 97071
- Price: $499,900
- 4 bedrooms, 2.5 bathrooms
- Square feet: 1,843
- See 1122 Parkside Ave, Woodburn, OR 97071 on Redfin.com
672 Sw Robinhood Dr, Dallas, OR 97338
- Price: $500,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,101
- See 672 Sw Robinhood Dr, Dallas, OR 97338 on Redfin.com
845 Sw Oakdale Ave, Dallas, OR 97338
- Price: $500,000
- 4 bedrooms, 2 bathrooms
- Square feet: 1,882
- See 845 Sw Oakdale Ave, Dallas, OR 97338 on Redfin.com
2133 Northtree Dr Ne, Keizer, OR 97303
- Price: $499,900
- 4 bedrooms, 2 bathrooms
- Square feet: 1,786
- See 2133 Northtree Dr Ne, Keizer, OR 97303 on Redfin.com
2776 Mia Ct Se, Salem, OR 97306
- Price: $499,900
- 3 bedrooms, 3 bathrooms
- Square feet: 1,984
- See 2776 Mia Ct Se, Salem, OR 97306 on Redfin.com
1491 Foxglove St, Woodburn, OR 97071
- Price: $500,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,541
- See 1491 Foxglove St, Woodburn, OR 97071 on Redfin.com
3516 Myrtle St, Woodburn, OR 97071
- Price: $499,000
- 3 bedrooms, 2 bathrooms
- Square feet: 2,170
- See 3516 Myrtle St, Woodburn, OR 97071 on Redfin.com
2756 Pheasant Ave Se, Salem, OR 97302
- Price: $500,000
- 3 bedrooms, 2 bathrooms
- Square feet: 2,126
- See 2756 Pheasant Ave Se, Salem, OR 97302 on Redfin.com
3248 Cheyenne Ct Nw, Salem, OR 97304
- Price: $499,000
- 3 bedrooms, 2 bathrooms
- Square feet: 2,028
- See 3248 Cheyenne Ct Nw, Salem, OR 97304 on Redfin.com
2677 Burlington Ct Ne, Salem, OR 97305
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,996
- See 2677 Burlington Ct Ne, Salem, OR 97305 on Redfin.com
5198 Skyline Rd S, Salem, OR 97306
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,990
- See 5198 Skyline Rd S, Salem, OR 97306 on Redfin.com
1001 Doe Ct Nw, Salem, OR 97304
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,978
- See 1001 Doe Ct Nw, Salem, OR 97304 on Redfin.com
5323 Verda Ln Ne, Keizer, OR 97303
- Price: $499,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,964
- See 5323 Verda Ln Ne, Keizer, OR 97303 on Redfin.com
1427 Dawn Dr, Stayton, OR 97383
- Price: $497,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,876
- See 1427 Dawn Dr, Stayton, OR 97383 on Redfin.com
5105 Skylab Ave Ne, Salem, OR 97305
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,870
- See 5105 Skylab Ave Ne, Salem, OR 97305 on Redfin.com
1706 Juneau St S, Salem, OR 97302
- Price: $499,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,811
- See 1706 Juneau St S, Salem, OR 97302 on Redfin.com
6648 Brookhollow Ct Ne, Keizer, OR 97303
- Price: $498,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,792
- See 6648 Brookhollow Ct Ne, Keizer, OR 97303 on Redfin.com
2414 Cherry Blossom Dr Nw, Salem, OR 97304
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,754
- See 2414 Cherry Blossom Dr Nw, Salem, OR 97304 on Redfin.com
797 Dearborn Ave Ne, Keizer, OR 97303
- Price: $500,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,719
- See 797 Dearborn Ave Ne, Keizer, OR 97303 on Redfin.com
1194 Sw Maple St, Dallas, OR 97338
- Price: $499,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,716
- See 1194 Sw Maple St, Dallas, OR 97338 on Redfin.com
5903 Ballymeade St Se, Salem, OR 97306
- Price: $499,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,635
- See 5903 Ballymeade St Se, Salem, OR 97306 on Redfin.com
312 Division St, Silverton, OR 97381
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,631
- See 312 Division St, Silverton, OR 97381 on Redfin.com
2596 Jamestown St, Woodburn, OR 97071
- Price: $499,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,598
- See 2596 Jamestown St, Woodburn, OR 97071 on Redfin.com
5053 Cindy Pl Se, Salem, OR 97306
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,569
- See 5053 Cindy Pl Se, Salem, OR 97306 on Redfin.com
4716 Milo Ave Ne, Salem, OR 97301
- Price: $500,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,493
- See 4716 Milo Ave Ne, Salem, OR 97301 on Redfin.com
24975 Yamhill River Rd, Willamina, OR 97396
- Price: $500,000
- 3 bedrooms, 1 bathroom
- Square feet: 1,196
- See 24975 Yamhill River Rd, Willamina, OR 97396 on Redfin.com
