What is the Best Neighborhoods USA ranking for Central Area?
Central Area is ranked #17 of 18 eligible neighborhoods in Salem; #246 of 254 eligible neighborhoods in OR; and #13,884 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Central Area
Salem, OR | Marion County
Scored premium profile
Best Neighborhoods USA Index
27.3
Stability and Strength
29.1
Value Opportunity
27.9
Momentum
23.7
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Salem, OR |
| County | Marion County |
| National rank | #13,884 of 14,967 |
| State rank | #246 of 254 |
| City rank | #17 of 18 |
| County rank | #17 of 18 |
| National percentile | 7.2 |
| National band | LOWER_25_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $426,353 |
| Year-over-year home value change | -2.5% |
| Month-over-month home value change | -0.10% |
| Home value to income ratio | 8.45 |
| Median household income | $50,440 |
| Bachelor's degree or higher | 42.9% |
| Civilian unemployment rate | 9.2% |
| Homeownership rate | 21.3% |
| Housing vacancy rate | 9.3% |
| Rent burden 30% or higher | 54.2% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Central Area
Is Central Area one of the best neighborhoods in Salem?
Central Area has a Best Neighborhoods USA Index of 27.3 and a city ranking of #17 of 18 eligible neighborhoods in Salem.
How much are homes worth in Central Area?
The current Zillow Home Value Index for Central Area is approximately $426,353.
Are home values rising or falling in Central Area?
Zillow neighborhood values changed -2.5% year over year and -0.10% month over month.
What is the Neighborhood Momentum Score for Central Area?
Central Area has a Neighborhood Momentum Score of 23.7. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Central Area?
The NDS-derived neighborhood median household income is approximately $50,440.
How affordable is Central Area relative to household income?
The current Zillow home-value-to-household-income ratio is 8.45. Price-to-income affordability is a major Value Opportunity input.
Is Central Area primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 21.3%.
What is the unemployment rate in Central Area?
The NDS-derived civilian unemployment rate is approximately 9.2%.
How educated are residents of Central Area?
Approximately 42.9% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Central Area face high rent burden?
Approximately 54.2% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Central Area?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications35
Estimated originations22
Home-purchase applications16
Origination rate64.3%
Home-purchase share46.6%
Average application loan$592,780
Total application loan amount$20,718,364
National application rank#8,656 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 15.4% YoY; originations 60.6% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.