Why Live in Downtown Salem
Downtown Salem offers a mix of multi-unit and multi-use buildings, with residences often found above ground-level storefronts. These condos and apartments, ranging from two to six stories, date back to the early 1900s through the 1990s, with new developments emerging near the river and train station. Residents enjoy easy access to green spaces like Salem Common, featuring paved walkways, a basketball court, and a playset, as well as Winter Island Park, which offers camping, boat ramps, and Waikiki Beach. The Salem YMCA provides additional recreational facilities. Dining options are abundant, with popular spots like Ledger, O'Neil’s Pub & Restaurant, and All Souls Bar, alongside numerous boutiques and stores with magical themes. Grocery shopping is convenient with local markets and chains like Stop & Shop and Market Basket within 2 miles. Cultural attractions include the Peabody Essex Museum and historic city hall, which hosts reenactments of the Salem Witch Trials. Events such as the Salem’s So Sweet Chocolate and Ice Sculpture Festival add to the vibrant community life. The neighborhood is highly walkable, with streets closed to cars, and the Salem commuter rail station offers a 30-minute ride to Boston’s North Station. Boston Logan International Airport is 16 miles away, and Salem Hospital is less than a mile from the neighborhood. Education options include the highly rated Salem Academy Charter School.
Frequently Asked Questions
Is Downtown Salem a good place to live?
Downtown Salem is a good place to live. Downtown Salem is considered very walkable and very bikeable with some transit options. Downtown Salem has 2 parks for recreational activities. It has a median age of 43. The average household income is $104,156 which is above the national average. College graduates make up 62.3% of residents. A majority of residents in Downtown Salem are renters, with 62.1% of residents renting and 37.9% of residents owning their home. A
local real estate agent serving Downtown Salem can help you decide if this neighborhood is the right one for you. Learn more on our
Downtown Salem neighborhood guide.
How much do you need to make to afford a house in Downtown Salem?
The median home price in Downtown Salem is $490,500. If you put a 20% down payment of $98,100 and had a 30-year fixed mortgage with an interest rate of 6.56%, your estimated principal and interest payment would be $2,500 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $107K a year to afford the median home price in Downtown Salem. The average household income in Downtown Salem is $104K.
What are the best public schools in Downtown Salem?
The best public schools that serve Downtown Salem are:
What are the best private schools in Downtown Salem?
The best private schools that serve Downtown Salem are:
What are the most popular zip codes in Downtown Salem, Salem, MA?
What are the most popular neighborhoods near Downtown Salem, Salem, MA?
Are home prices dropping in Downtown Salem?
Yes, home prices in Downtown Salem are down 2% in the last 12 months.
Home Trends in Downtown Salem, MA
On average, homes in Downtown Salem, Salem sell after 23 days on the market compared to the national average of 52 days. The median sale price for homes in Downtown Salem, Salem over the last 12 months is $470,000, up 4% from the median home sale price over the previous 12 months.
Median Sale Price
$470,000
Median Townhouse Sale Price
$458,000
Median 2 Bedroom Sale Price
$526,000
Median 1 Bedroom Sale Price
$370,000
Average Price Per Sq Ft
$494
Number of Homes for Sale
7
Last 12 months Home Sales
21
Median List Price
$490,500
Median Change From 1st List Price
-1%
Median Home Sale Price YoY Change
4%