Real Estate Investing in Salem, New Jersey (08079)
Should you buy in 08079 (Salem, NJ)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- High vacancy: 18.4% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Salem, NJ (08079)?
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Market Analysis: 08079 Salem
The 08079 ZIP in Salem, NJ is a local-operator market. Outside capital chasing a $235K entry has to pair deep knowledge with the discount.
The investment case in 08079 is impressive only for operators who understand what they are buying. A $235K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
In the broader NJ picture, 08079 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
In practical terms, 10,696 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Salem:
Property Strategy for 08079
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $152,950 | $1,460 | 6.9% | +16.0% | $76,475 |
| 3BR | $224,634 | $1,750 | 5.6% | +13.7% | $74,878 |
| 4BR | $241,303 | $1,950 | 5.8% | +12.8% | $60,326 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 08079 Compare?
| Metric | 08079 | Salem | New Jersey |
|---|---|---|---|
| Home Value | $234,645 | $234,645 | $559,826 |
| 5-Year CAGR | 8.2% | 8.2% | 8.4% |
| Avg Rent | $1,800 | $1,800 | - |
| Cap Rate | 6.0% | 6.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 08079 (Salem, NJ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $234,645 |
| Monthly Rent | $1,800 |
| Price-to-Rent | 10.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.2% |
| Cap Rate | 6.0% |
| 5-Year IRR | 14.2% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +6.1% ▲ |
| 5-Year CAGR | +8.2% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (6.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 08079
Population: 10,696
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 08079
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
Quinton Township School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What kind of vacancy should I budget for in Salem, NJ?
Expect elevated vacancy in Salem, NJ. Rents at $1,800/mo are absorbed by the tenant base without meaningful lag.
How strong is the working-renter base in Salem, NJ?
Salem, NJ offers a reliable renter base at the $1,800/mo rent level. Tenant turnover is reasonable for well-managed properties.
How should investors approach Salem, NJ?
Investors usually favor careful cash-flow rentals with hands-on management in Salem, NJ. With home values at $235K and rents near $1,800/mo, other strategies can work but produce consistent rather than outsized returns.
Can owner-occupants cash flow in Salem, NJ?
House hacking in Salem, NJ is a challenging. With home values around $235K and rents at $1,800/mo, owner-occupants can offset a meaningful share of PITI.
What is the investability score for Salem, NJ?
The 3.0/5 investability rating in Salem, NJ reflects its $235K prices and $1,800/mo rents. Investors generally consider it a solid option within NJ.
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