How much is a home worth in ZIP code 97301?

The typical home in 97301 is worth $372,505, based on the Zillow Home Value Index.

Are home values rising in 97301?

Home values in 97301 are down 0.1% over the past year, and up 3.6% a year over five years.

What is the typical rent in 97301?

A typical home in 97301 rents for about $1,504 a month, a gross rental yield of 4.8%.

What is the property tax rate in 97301?

The effective property tax rate in 97301 is 0.9% — roughly $3,228 a year on a typical home.

ZIP code 97301 has a population of 57,574 and a median household income of $60,422.

HousingHandbookReference data

…

U.S. ZIP Code · OR97301

Marion County · Salem, OR

Typical home value

$372,505^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.1%
5-year / yr: +3.6%
10-year / yr: +8.4%

Relative price

vs U.S.: +31.1%
vs metro: -21.8%
vs state: -19.0%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 97301 is worth $372,505 — 21.8% below the Salem, OR median. Over the past year, values have fallen 0.1%. Homes here rent for a typical $1,504 a month — a 4.8% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,504^[2]
Gross yield: 4.8%^[2]
Cap rate: 2.9%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.9%^[3]
Typical annual tax: $3,228^[3]

#Climate risk

FEMA National Risk Index ratings for Marion County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Very Low
Heat wave: Relatively Moderate
Hurricane: Not Applicable
Tornado: Very Low
Earthquake: Relatively High
Winter weather: Relatively Moderate

#Who lives here

Population: 57,574^[3]
Median household income: $60,422^[3]

#Migration

Household moves in and out of Marion County over a year, from IRS tax-return data.

Net migration: -180^[5]
Moved in: 8,210
Moved out: 8,390

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 18
Elementary: 9
Middle: 5
High: 3

North Salem High School
High · Grades 9–12 · Salem-Keizer SD 24J
2,176 students
Waldo Middle School
Middle · Grades 6–8 · Salem-Keizer SD 24J
1,035 students
Houck Middle School
Middle · Grades 6–8 · Salem-Keizer SD 24J
873 students
Parrish Middle School
Middle · Grades 6–8 · Salem-Keizer SD 24J
674 students
Auburn Elementary School
Elementary · Grades K–5 · Salem-Keizer SD 24J
596 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield4.8%

Net yield (after ~40% expenses)2.9%

Annual rent$18,052

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,884

Loan principal$298,004

Down payment$74,501

Total interest paid$380,088

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.64

Monthly cost to own$2,464

Monthly rent$1,504

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 39th percentile^[1]
Rental yield: 75th percentile^[2]
Property tax: 86th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

2nd for most populous in ORView list →

Frequently asked

How much is a home worth in ZIP code 97301?: The typical home in 97301 is worth $372,505, based on the Zillow Home Value Index.
Are home values rising in 97301?: Home values in 97301 are down 0.1% over the past year, and up 3.6% a year over five years.
What is the typical rent in 97301?: A typical home in 97301 rents for about $1,504 a month, a gross rental yield of 4.8%.
What is the property tax rate in 97301?: The effective property tax rate in 97301 is 0.9% — roughly $3,228 a year on a typical home.
Who lives in 97301?: ZIP code 97301 has a population of 57,574 and a median household income of $60,422.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

97344 vs 97301 →
Falls City, OR
Typical home
$361,499
Gross yield
—
97305 vs 97301 →
Salem, OR
Typical home
$424,078
Gross yield
5.0%
97071
Woodburn, OR
Typical home
$427,158
Gross yield
4.9%
97351
Independence, OR
Typical home
$428,934
Gross yield
4.9%
97026
Gervais, OR
Typical home
$434,982
Gross yield
—
97303
Keizer, OR
Typical home
$452,184
Gross yield
4.6%

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Pit ZIP 97301 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · OR97301

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