Salem Housing Roadmap Report: Rents Up 10%, Houses Up 13% Since 2022

SALEM, MA — Salem has released its 2026 report card on the city's five-year Housing Roadmap, offering an update on progress toward housing goals first adopted in December 2022.

The city said the roadmap laid out 30 strategies to support a shared housing vision and that, with 75 percent of the timeframe now passed, the new report is meant to show current housing needs and progress toward 2027 goals.

According to the report, 15 of the 30 strategies had been completed as of November 2026, another nine were in progress, and six had not yet started.

The city said completed items include regulations around condo conversions, inclusionary housing rules, support for the housing rehabilitation program, and creation of a housing stability position within the mayor's office.

"We've made good progress on many of the strategies called for in our current Housing Roadmap, and we're seeing benefits from those actions, but there's certainly more to do," said Mayor Dominick Pangallo. "I appreciate the hard work of the city staff, volunteer board members, fellow public officials, and community partners and advocates who have all played a role in advancing these strategies.

"We continue to believe that everyone in Salem deserves a roof over their head, and one that they can afford. The path outlined by our roadmap provides us with clear direction how we can achieve that goal together."

The report describes a housing market that remains tight.

Between 2022 and 2026, Salem's median single-family home sale prices rose by 13 percent and median condo sale prices rose by 14 percent, according to the city. Between January and August 2020 and the same period in 2026, average rents in Salem increased by 10 percent, from $2,000 to $2,196.

Salem reported that housing units continue to be converted to condos each year. The city said conversions peaked in 2022 at 107 units and that the pace remains steady.

The report said Salem's most recent vacancy rate was 2.6 percent for rental units and 0 percent for owned properties, compared with what it described as a healthy market vacancy rate of about 6 percent for rentals and about 2 percent for owned homes.

"Behind every housing statistic is a person, a family, or a senior wondering whether they will be able to remain in the community they call home," said Lori Stewart, Salem Housing Stability Coordinator. "That is why the Housing Roadmap is such an important document."

Stewart said the city needs both more housing opportunities and stronger protections to help tenants remain housed and prevent displacement.

The report said 42 percent of households remained cost-burdened between 2022 and 2024.