Home Insurance in Salem, New Jersey
With a median home value of $79,800, Salem is 67% lower than the Salem County median.
The typical home in Salem was built around 1942. About 73% of homes were built before 1960, about 26 points above Salem County's 47%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
In Salem, the housing stock is 59% single-family homes, 14% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
44% of owner-occupied homes in Salem carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 22%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 35% of occupied homes in Salem are owner-occupied.
Most homes in Salem - 54% - are primarily heated with natural gas. Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Salem County's overall risk as Relatively Low, led by coastal flooding (Very High). Salem County had 1,540 active NFIP flood policies as of September 2026. See the full Salem County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in New Jersey carries a statewide average premium of $1,551 per year.
Key figures
| Median home value | $79,800 |
|---|---|
| Median year built | 1942 |
| Owner-occupied share | 35% |
| Share of owner-occupied homes with a mortgage | 44% |
| Top county hazard | Coastal Flooding (Very High) |
| Active NFIP policies in Salem County | 1,540 |
| Home insurance premium | $1,551 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)