Housing Insights for ZIP Code 01970 (Salem, MA)

Housing Summary for ZIP Code 01970

Homeowners

The median home value in ZIP Code 01970 (Salem, MA) is $367,200. Approximately 51.7% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 1.3%.

The average occupancy of owner-occupied units in ZIP Code 01970 is 2.33 occupants, while owner-occupied units have an aggregate average size of 2.3 bedrooms per housing unit.

Renters

In the 01970 ZIP Code, an estimated 48.3% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 1.3%.

Among renter-occupied units in this ZIP, the average occupancy is 2.16 occupants, while renters in this Essex County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 01970

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 01970.

ZIP 01970 Massachusetts U.S.
Median Home Value $367,200 $656,427 $364,385
Owner-Occupied Housing Units 51.7% 62.4% 64.0%
Homeowner Vacancy Rate 1.3% 1.0% 1.6%
Average Size of Owner-Occupied Unit 2.33 2.69 2.70
Average # of Bedrooms Per Unit 2.3 2.66 2.75
Median Housing Rent $0 $1,282 $1,062
Renter-Occupied Housing Units 48.3% 37.6% 36.0%
Rental Vacancy Rate 1.3% 3.6% 6.0%
Average Size of Renter-Occupied Unit 2.16 2.25 2.49
Percent of Income Spent on Rent 0% 29.76% 29.83%

Home Values in ZIP Code 01970 (Salem, MA)

The median home value in ZIP Code 01970 is $367,200. That median value is about 4% lower than the median home value of $381,600 in Massachusetts overall, and is 69% higher than the $217,500 the median home value in the entire U.S. In ZIP Code 01970, about 57.7% of homes are valued $300,000 to $499,999. That is 61% higher than in Massachusetts, in which 35.9% of homes are valued at $300,000 to $499,999, and is about 199% higher than in the U.S. overall (19.3% of homes valued at $300,000 to $499,999). The home value range that the smallest portion of ZIP Code 01970 homes fall into is $50,000 to $99,999 (0.3% of homes).

Home Values in ZIP Code 01970

This chart visualizes the breakdown of home values in ZIP Code 01970, Massachusetts, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 01970 vs. home values in both the state of Massachusetts and in the U.S. overall.

Home Values in ZIP Code 01970

See the table below for a regional comparison of home values in ZIP Code 01970.

Home Value ZIP 01970 Massachusetts U.S.
Less than $50,000 1.1% 1.5% 6.9%
$50,000 to $99,999 0.3% 1.4% 12.0%
$100,000 to $149,999 0.9% 3.4% 13.3%
$150,000 to $199,999 2.3% 7.2% 14.0%
$200,000 to $299,999 22.5% 19.5% 19.6%
$300,000 to $499,999 57.7% 35.9% 19.3%
$500,000 to $999,999 13.9% 25.4% 11.4%
$1,000,000 or more 1.3% 5.8% 3.4%

Home Ages in ZIP Code 01970 (Salem, MA)

Approximately 53.8% of homes in this Salem, MA region were built in 1939 or earlier. This amount of homes built in 1939 or earlier in ZIP Code 01970 is about 66% higher than percentage of homes built in this time period in Massachusetts overall (32.5% of homes), and is 327% higher the percentage (12.6% of homes) in the U.S. as a whole. Additionally, an esimated 10.0% of local homes were built in 1970 to 1979. On the other end of the scale, just 0.3% of homes in this Essex County ZIP Code were built in 2014 or later in ZIP Code 01970. In comparison, 1.6% of homes in Massachusetts overall were built in 2014 or later, while 2.5% of all U.S. homes were built in this time period.

Home Ages in ZIP Code 01970

A detailed regional comparison of home ages in ZIP Code 01970.

Year Built ZIP 01970 Massachusetts U.S.
2014 or later 0.3% 1.6% 2.5%
2010 to 2013 0.8% 1.7% 2.7%
2000 to 2009 3.9% 7.1% 14.0%
1990 to 1999 3.8% 7.7% 13.9%
1980 to 1989 9.4% 10.8% 13.4%
1970 to 1979 10.0% 11.6% 15.2%
1960 to 1969 5.4% 10.2% 10.6%
1950 to 1959 7.4% 11.3% 10.3%
1940 to 1949 5.2% 5.5% 4.9%
1939 or earlier 53.8% 32.5% 12.6%

Age of Homes in ZIP Code 01970

See the chart below for details on the age of homes in ZIP Code 01970, Massachusetts, and also in the U.S. overall. Data here refers to years that homes were built.

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Housing FAQs for ZIP Code 01970

Frequently asked questions about housing in this Salem, MA ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 01970.

1

What is the average home value ZIP Code 01970?

The median home value in ZIP Code 01970 (Salem, MA) is $367,200.
2

Are homes expensive in ZIP Code 01970?

The median home value in 01970 ($367,200) is an estimated 4% lower than the aggregate median value of $381,600 in Massachusetts, and is 69% higher than the $217,500 the median home value in the U.S. overall.
3

What are owner-occupied vacancy rates like in ZIP Code 01970?

The vacacy rate for owner-occupied housing in ZIP Code 01970 is 1.3%. This rate is 30% higher than the overall Massachusetts owner-occupied vacancy rate of 1.0%. Additionally, the 01970 vacancy rate is 19% lower than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 01970 have older homes or newer construction?

In ZIP Code 01970, about 53.8% of homes were built in 1939 or earlier. That time range includes the most home construction. Also, 10.0% of homes in the region were built in 1970 to 1979. In contrast, 0.3% of homes in 01970 were built in 2014 or later.
5

What is the housing breakdown in ZIP Code 01970? Are there more rentals or owner-occupied units?

There is more owner-occupied housing in 01970 than renter-occupied housing. Owner-occupied units make up 51.7% of housing, compared to 48.3% for renter-occupied units.
6

Are rental vacancy rates high in ZIP Code 01970?

The vacacy rate for rental units in ZIP Code 01970 is 1.3%. This rate is 64% lower than the overall Massachusetts vacancy rate of 3.6%. Additionally, the 01970 vacancy rate is 78% lower than the entire U.S. vacancy rate of 6.0%.