Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 9,045 people, 3,331 houses or apartments, and a median cost of homes of $883,712, South Salem house prices are not only among the most expensive in New York, South Salem real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in South Salem, accounting for 84.50% of the town's housing units. Other types of housing that are prevalent in South Salem include row houses and other attached homes ( 8.87%), duplexes, homes converted to apartments or other small apartment buildings ( 3.19%), and a few large apartment complexes or high rise apartments ( 3.12%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in South Salem. Owner-occupied housing accounts for 94.28% of South Salem's homes, and 68.51% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in South Salem built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in South Salem built between 1940-1969 ( 25.84%). A lesser amount of the housing stock also hails from before 1939 ( 19.75%). There's also some housing in South Salem built between 2000 and later ( 8.44%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in South Salem, where house values have increased just 41.29%, which is annualized rate of 3.52%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, South Salem appreciation rates have trailed the rest of the nation. In the last twelve months, South Salem's appreciation rate has been 6.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in South Salem were at 3.32%, which equates to an annual appreciation rate of 13.97%.
Relative to New York, our data show that South Salem's latest annual appreciation rate is lower than 80% of the other cities and towns in New York.
$883,712
for New york
for nation
3,331
$4,144 / per month