U.S. ZIP Code · OR97338
Polk County · Salem, OR
Appreciation
- 1-year
- +1.3%
- 5-year / yr
- +4.1%
- 10-year / yr
- +7.3%
Relative price
- vs U.S.
- +67.8%
- vs metro
- ≈ metro median
- vs state
- +3.6%
Price history
Zillow Home Value Index — monthly, smoothed and seasonally adjusted.
The typical home in 97338 is worth $476,558. Over the past year, values have risen 1.3%. Homes here rent for a typical $1,704 a month — a 4.3% gross rental yield. The effective property tax rate is 0.7%.
#Rent & investment
Typical asking rent, and the returns it implies at the current home value.
#Property tax
Effective rate — total real estate taxes paid relative to total home value.
#Climate risk
FEMA National Risk Index ratings for Polk County. "Not Applicable" means the hazard does not threaten the county.
- Overall risk
- Relatively Low[4]
- Riverine flood
- Relatively Low
- Coastal flood
- No Rating
- Wildfire
- Very Low
- Drought
- Very Low
- Heat wave
- Relatively Moderate
- Hurricane
- Not Applicable
- Tornado
- Very Low
- Earthquake
- Relatively Moderate
- Winter weather
- Relatively Low
#Who lives here
#Migration
Household moves in and out of Polk County over a year, from IRS tax-return data.
- Net migration
- +22[5]
- Moved in
- 3,234
- Moved out
- 3,212
Schools
Open public schools in this ZIP, from the NCES Common Core of Data.
- Public schools
- 6
- Elementary
- 3
- Middle
- 1
- High
- 1
Dallas High School
High · Grades 9–12 · Dallas SD 2
856 students
LaCreole Middle School
Middle · Grades 6–8 · Dallas SD 2
574 students
Whitworth Elementary School
Elementary · Grades 4–5 · Dallas SD 2
360 students
Oakdale Heights Elementary School
Elementary · Grades K–3 · Dallas SD 2
332 students
Lyle Elementary School
Elementary · Grades K–3 · Dallas SD 2
323 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.
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.
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.
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.
Frequently asked
- How much is a home worth in ZIP code 97338?
- The typical home in 97338 is worth $476,558, based on the Zillow Home Value Index.
- Are home values rising in 97338?
- Home values in 97338 are up 1.3% over the past year, and up 4.1% a year over five years.
- What is the typical rent in 97338?
- A typical home in 97338 rents for about $1,704 a month, a gross rental yield of 4.3%.
- What is the property tax rate in 97338?
- The effective property tax rate in 97338 is 0.7% — roughly $3,135 a year on a typical home.
- Who lives in 97338?
- ZIP code 97338 has a population of 23,419 and a median household income of $78,858.
#Comparable ZIPs
Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.
Monmouth, OR
- Typical home
- $476,820
- Gross yield
- 4.0%
Gates, OR
- Typical home
- $470,714
- Gross yield
- —
Mount Angel, OR
- Typical home
- $483,516
- Gross yield
- —
Donald, OR
- Typical home
- $468,360
- Gross yield
- —
Salem, OR
- Typical home
- $465,023
- Gross yield
- 3.8%
Stayton, OR
- Typical home
- $464,154
- Gross yield
- 4.0%
Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →
Compare ZIPs
Pit ZIP 97338 against any other ZIP — full side-by-side table.
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