97304 — Salem, OR Home Values
Typical home value $506,304 as of June 2026 · 9th of 29 in Salem, OR
Blue: typical home value (Zillow ZHVI) in ZIP code 97304, June 2021 to June 2026. This page shows observed data only; no forecast.
How 97304 compares in the Salem, OR area
ZIP code 97304 (Salem, OR) has a typical home value of $506,304 as of June 2026, ranking 9th of 29 ZIP codes tracked in the Salem, OR area, more expensive than about 72% of ZIP codes in the metro. Prices here have moved +0.6% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +17.3%, from $431,741 in June 2021 to $506,304 in June 2026. Against observed rent, the typical home here sells for 22.7× the annual rent ($1,855/mo), a common way to gauge whether buying looks cheap relative to renting in this ZIP code.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Salem, OR forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Salem.
Population and demographics
ZIP code 97304 has a population of 34,846, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 76.8% White, 12.8% Hispanic or Latino, 4.8% two or more races, 3.5% Asian, 1% American Indian or Alaska Native, 0.8% Native Hawaiian or Pacific Islander, and 0.2% Black or African American.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Brush College Elementary School | 2623 Doaks Ferry Rd NW, Salem, OR | 2.9 mi |
| Kalapuya Elementary School | 2085 Wilmington Ave NW, Salem, OR | 3.4 mi |
| Keizer Elementary School | 5600 McClure St N, Keizer, OR | 3.5 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 97304?
$506,304 as of June 2026, the latest month Zillow has published observed data for.
Is 97304 an expensive ZIP code in the Salem, OR area?
97304 ranks 9th of 29 ZIP codes in the Salem, OR area by typical home value, more expensive than about 72% of ZIP codes in the metro.
How much have home values in 97304 changed over the past year?
+0.6% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 97304?
The typical home price is 22.7× the observed annual rent in this ZIP code ($1,855/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 97304?
34,846, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 97304?
Brush College Elementary School (2.9 mi), Kalapuya Elementary School (3.4 mi), Keizer Elementary School (3.5 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 97304?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Salem, OR forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.