ZIP Code 97305 — Salem, OR Home Prices (2026)
The typical home in ZIP 97305 (Salem, Oregon) is worth about $425,000 at roughly $272 per square foot — 8% more affordable than the Salem median and 45% more expensive than the typical U.S. home.
How 97305 compares
ZIP 97305 is one of the more affordable ZIP codes in Salem: its typical home value of $425,000 ranks #5 of the 7 Salem ZIP codes we track (the citywide range runs from $255,000 in 97310 to $504,000 in 97304). Per square foot it costs about $272, against $272 for Salem as a whole, $299 for Oregon, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 97305 | $425,000 | $272 |
| Salem, OR | $462,000 | $272 |
| Oregon | $468,500 | $299 |
| United States | $294,000 | $195 |
Home value by size in 97305
Using this ZIP’s rate of about $272 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $272,000 |
| 1,500 sq ft | $408,000 |
| 2,000 sq ft | $544,000 |
| 2,500 sq ft | $680,000 |
| 3,000 sq ft | $816,000 |
Salary needed to buy a home in ZIP 97305
To buy the typical $425,000 home in ZIP 97305 with 20% down, you need a household income of roughly $116,000 a year (about $2,700 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $137,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $21,300 | $3,350/mo | $144,000/yr |
| 10% (+PMI) | $42,500 | $3,210/mo | $137,000/yr |
| 20% | $85,000 | $2,700/mo | $116,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 97305
At about $272 per square foot, here is roughly how much home different budgets get you in ZIP 97305:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $200k | 740 sq ft | below the local median — condos, smaller or older homes |
| $250k | 920 sq ft | below the local median — condos, smaller or older homes |
| $300k | 1100 sq ft | below the local median — condos, smaller or older homes |
| $400k | 1470 sq ft | around the typical home here |
| $500k | 1840 sq ft | around the typical home here |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 97305 home.
Estimate a specific home in 97305
The estimator below is pre-set to ZIP 97305 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Salem ZIP codes by home value
Where 97305 sits among Salem’s 7 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 97304 | $504,000 | $252 |
| 2 | 97306 | $498,000 | $274 |
| 3 | 97302 | $467,000 | $284 |
| 4 | 97317 | $462,000 | $333 |
| 5 | 97305 (this page) | $425,000 | $272 |
| 6 | 97301 | $376,000 | $267 |
| 7 | 97310 | $255,000 | $134 |
ZIP 97305 home prices: frequently asked
What is the average home price in ZIP code 97305? +
What is the price per square foot in 97305? +
What salary do you need to buy a house in ZIP 97305? +
Is 97305 an expensive ZIP code? +
See the full Salem home values page, all Oregon cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.