How much is a home worth in ZIP code 97371?

The typical home in 97371 is worth $767,151, based on the Zillow Home Value Index.

Are home values rising in 97371?

Home values in 97371 are up 3.0% over the past year, and up 4.0% a year over five years.

What is the property tax rate in 97371?

The effective property tax rate in 97371 is 0.5% — roughly $3,696 a year on a typical home.

HousingHandbookReference data

…

U.S. ZIP Code · OR97371

Polk County · Salem, OR

Typical home value

$767,151^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.0%
5-year / yr: +4.0%
10-year / yr: +6.9%

Relative price

vs U.S.: +170.1%
vs metro: +61.0%
vs state: +66.8%

Price history

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

The typical home in 97371 is worth $767,151 — 61.0% above the Salem, OR median. Over the past year, values have risen 3.0%. The effective property tax rate is 0.5%.

#Rent & investment

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

Monthly rent: —^[2]
Gross yield: —^[2]
Cap rate: —^[2]

#Property tax

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

Effective tax rate: 0.5%^[3]
Typical annual tax: $3,696^[3]

#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

Population: 694^[3]
Median household income: —^[3]

#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

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 yield—

Net yield (after ~40% expenses)—

Annual rent—

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$3,879

Loan principal$613,721

Down payment$153,430

Total interest paid$782,767

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 ratio—

Monthly cost to own$4,825

Monthly rent—

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: 61st percentile^[1]
Rental yield: —^[2]
Property tax: 4th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 97371?: The typical home in 97371 is worth $767,151, based on the Zillow Home Value Index.
Are home values rising in 97371?: Home values in 97371 are up 3.0% over the past year, and up 4.0% a year over five years.
What is the property tax rate in 97371?: The effective property tax rate in 97371 is 0.5% — roughly $3,696 a year on a typical home.

#Comparable ZIPs

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

97002 vs 97371 →
Butteville CDP, OR
Typical home
$705,336
Gross yield
—
97375 vs 97371 →
Scotts Mills, OR
Typical home
$636,387
Gross yield
—
97137
St. Paul, OR
Typical home
$592,439
Gross yield
—
97392
Turner, OR
Typical home
$580,979
Gross yield
—
97385
Sublimity, OR
Typical home
$578,367
Gross yield
—
97381
Silverton, OR
Typical home
$552,706
Gross yield
3.9%

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#Jump to section

U.S. ZIP Code · OR97371

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