Commercial Real Estate Market in Salem, IL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
32 active listings and 545 off-market properties in Salem, IL.
Market Trends
Salem, IL spans 99.2 square miles in Marion County, Illinois. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Salem, IL runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Salem, IL runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Salem, IL runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Salem, IL runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 40.1%
- Industrial 31.6%
- Commercial 13.9%
Largest Zones share of zoned land by district
Industrial
Single Family Residence
Public Use
Highway Business
Interchange Business
Salem, IL zones 4,409 acres across 14 districts. Commercial zoning covers 13.9% of zoned land, residential 40.1% and industrial 31.6%. The largest single district is Industrial at 31.3%. For commercial buyers the practical constraint is that only 45.5% of land carries a commercial or industrial designation.
Industrial (I)
The I Industrial District is intended to provide for areas where light industry, research facilities, warehouses, and wholesale businesses may locate without detriment to the remainder of the community. In these areas a satisfactory correlation of factors required by such uses exists or can be readily achieved.
Market overview
Demographics & Economy
Salem, IL has 11,053 residents in 5,032 households. Density runs 111 people per square mile. Median household income here is $69,025 and median gross rent $750 a month.
11,053
Population
5,032
Households
2.2
Avg Household Size
42
Median Age
18%
College-Educated
93%
High-School Grad
99.2 sq mi
ZIP Area
111
Density / Sq Mi
$69,025
Median Household Income
$42,567
Median Earnings
$750
Median Rent
$111,500
Median Home Value
Tools
Nearby Markets
Frequently Asked Questions
What zoning applies to commercial property in Salem?
Salem, IL zones 4,409 acres across 14 districts, of which 13.9% is commercial and 31.6% industrial. The largest single district is Industrial at 31.3% of zoned land. The I Industrial District is intended to provide for areas where light industry, research facilities, warehouses, and wholesale businesses may locate without detriment to the remainder of the community. In these areas a satisfactory correlation of factors required by such uses exists or can be readily achieved. Residential zoning covers 40.1% and open space 0%.
Where does Realmo's Salem market data come from?
Realmo compiles Salem, IL figures from 8 recent recorded sales, 28 active sale listings, 4 active lease listings, 545 tracked off-market properties, the current Salem zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 28 active for-sale and 4 active for-lease listings in Salem, IL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 4,409 zoned acres across 14 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
