Commercial Real Estate Market in Salem, IN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
39 active listings and 583 off-market properties in Salem, IN.
Market Trends
Salem, IN spans 213.0 square miles in Washington County, Indiana. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Salem, IN 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, IN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Salem, IN 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, IN 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 92.1%
- Commercial 3.9%
- Industrial 3.9%
- Planned_development 0.1%
Largest Zones share of zoned land by district
Rural Residential
Residential
Light Industrial
General Business
Highway Business
Salem, IN zones 23,628 acres across 9 districts. Commercial zoning covers 3.9% of zoned land, residential 92.1% and industrial 3.9%. The largest single district is Rural Residential at 84.3%. For commercial buyers the practical constraint is that only 7.8% of land carries a commercial or industrial designation.
Rural Residential (RR)
The intent of this zone is to promote lowdensity residential living and preserve a rural character with limited uses
Market overview
Demographics & Economy
Salem, IN has 15,683 residents in 6,547 households. Density runs 74 people per square mile. Median household income here is $57,697 and median gross rent $726 a month.
15,683
Population
6,547
Households
2.4
Avg Household Size
42
Median Age
14%
College-Educated
88%
High-School Grad
213 sq mi
ZIP Area
74
Density / Sq Mi
$57,697
Median Household Income
$38,038
Median Earnings
$726
Median Rent
$161,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Pekin | — | — |
| Little York | — | — |
| Borden | — | — |
| Campbellsburg | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Salem?
Salem, IN zones 23,628 acres across 9 districts, of which 3.9% is commercial and 3.9% industrial. The largest single district is Rural Residential at 84.3% of zoned land. The intent of this zone is to promote lowdensity residential living and preserve a rural character with limited uses Residential zoning covers 92.1% and open space 0%.
Where does Realmo's Salem market data come from?
Realmo compiles Salem, IN figures from 36 active sale listings, 3 active lease listings, 583 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 36 active for-sale and 3 active for-lease listings in Salem, IN. 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: 23,628 zoned acres across 9 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
