Home Insurance in Salem, Oregon
With a median home value of $416,900, Salem is close to the Marion County median.
The typical home in Salem was built around 1980. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 23% of homes were built before 1960, about 3 points above Marion County's 20%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Salem is 62% single-family homes, 23% apartments in buildings with 5+ units and 5% mobile or manufactured homes.
About 68% of owner-occupied homes in Salem have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 56% of occupied homes in Salem are owner-occupied. The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
52% of homes in Salem are primarily heated with electricity.
FEMA rates Marion County's overall risk as Relatively High, led by earthquake (Relatively High). Marion County had 1,429 active NFIP flood policies as of September 2026. See the full Marion County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
The statewide average premium for a standard HO-3 homeowners policy in Oregon is $1,003 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $416,900 |
|---|---|
| Median year built | 1980 |
| Owner-occupied share | 56% |
| Share of owner-occupied homes with a mortgage | 68% |
| Top county hazard | Earthquake (Relatively High) |
| Active NFIP policies in Marion County | 1,429 |
| Home insurance premium | $1,003 - 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)