What are the most expensive neighborhoods in Salem, OR?

The neighborhoods with the highest median home values in Salem, OR include: Southwest ($533,454), South Gateway ($498,037), West Salem ($490,663), Sunnyslope ($467,062), Morningside ($461,267).

What are the most affordable neighborhoods in Salem, OR?

The neighborhoods with the lowest median home values in Salem, OR include: Southeast Salem ($325,502), Highland ($343,646), Grant ($353,959), Central Area ($359,568), Northeast Neighbors ($369,490).

Which Salem, OR neighborhoods have the fastest growing home values?

Neighborhoods with the highest year-over-year value growth in Salem, OR include: East Lancaster (1.8%), Faye Wright (1.1%), Sunnyslope (0.6%), West Salem (0.6%), Highland (0.6%).

Central Area, OR Housing Market

$341,410

9.6% 1-yr

The average Central Area, OR home value is $341,410, down 9.6% over the past year. (Updated on 8/31/2026)

What is the Zillow Home Values Index?

Zillow Home Value Index (ZHVI), built from the ground up by measuring monthly changes in property level Zestimates, captures both the level and home values across a wide variety of geographies and housing types.

Learn more about the Zillow Home Value Index

Central Area Key Takeaways

Typical Home Values: $341,410

1-Year Value Change: -9.6%

(Data through August 31, 2026)

Central Area Housing Market Overview

1-Year Market Forecast: --

For Sale Inventory: 11 (August 31, 2026)

New Listings: --

Median Sale to List Ratio: --

Median Sale Price: --

Median List Price: --

Percent of Sales Over List Price: --

Percent of Sales Under List Price: --

Median Days to Pending: --

(Metric availability is based on market coverage and data, housing data available for download in the Housing Data page)

How does this data help me?
Zillow's metrics provide valuable market data by tracking market changes in different locations and housing types.

Nearby Neighborhoods

NameMedian ZHVI
Grant$348,215
Northeast Neighbors$366,184
South Central$418,986
Highland$340,166
Southeast Salem$325,422
North East Salem$376,409
Lansing$365,528
West Salem$483,865
East Lancaster$385,904

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Central Area Rental Market Trends

Average Rent: --

National Average Rent: $1,948 (August 31, 2026)

Month-Over-Month Change: --

Year-Over-Year Change: --

How does this data help me?
The Zillow Observed Rent Index (ZORI) measures changes in asking rents over time, controlling for changes in the quality of the available rental inventory.