Commercial Real Estate Market in Salem, MA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
97 active listings and 925 off-market properties in Salem, MA. Commercial property asks $107/SF to buy and $22.21/SF/Yr to lease.
Market Trends
Salem, MA spans 8.2 square miles in Essex County, Massachusetts. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Salem, MA runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Salem, MA runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Salem, MA runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Salem, MA asks $324/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 79.8%
- Industrial 9.5%
- Commercial 7.2%
Largest Zones share of zoned land by district
Residential One Family
Residential Conservation
Residential Two Family
Industrial
Residential Multifamily
Salem, MA zones 4,684 acres across 11 districts. Commercial zoning covers 7.2% of zoned land, residential 79.8% and industrial 9.5%. The largest single district is Residential One Family at 36.7%. For commercial buyers the practical constraint is that only 16.7% of land carries a commercial or industrial designation.
Residential One Family (R1)
The Intent of this To promote Residential One Family Uses
Market overview
Demographics & Economy
Salem, MA has 44,451 residents in 20,920 households. Density runs 5,393 people per square mile. Median household income here is $85,189 and median gross rent $1,800 a month.
44,451
Population
20,920
Households
2.1
Avg Household Size
39
Median Age
50%
College-Educated
92%
High-School Grad
8.2 sq mi
ZIP Area
5,393
Density / Sq Mi
$85,189
Median Household Income
$52,024
Median Earnings
$1,800
Median Rent
$497,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Peabody | — | $23.16 |
| Marblehead | — | $36.08 |
| Swampscott | — | — |
| Beverly | — | $17.52 |
Commercial property in Salem, MA asks $107/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Salem?
Commercial property in Salem, MA asks an average of $107 per square foot. The 6 most recent recorded sales traded at a median of $237/SF. Multifamily carries the highest asking price at $324/SF.
How much does it cost to lease commercial space in Salem?
Asking lease rates in Salem, MA average $22.21 per square foot per year.
What zoning applies to commercial property in Salem?
Salem, MA zones 4,684 acres across 11 districts, of which 7.2% is commercial and 9.5% industrial. The largest single district is Residential One Family at 36.7% of zoned land. The Intent of this To promote Residential One Family Uses Residential zoning covers 79.8% and open space 0%.
Where does Realmo's Salem market data come from?
Realmo compiles Salem, MA figures from 7 recent recorded sales, 61 active sale listings, 36 active lease listings, 925 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 61 active for-sale and 36 active for-lease listings in Salem, MA. 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: 4,684 zoned acres across 11 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 Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast 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
