What is the Best Neighborhoods USA ranking for Federal Street?
Federal Street is ranked No published Salem rank is currently available; #146 of 259 eligible neighborhoods in MA; and #6,052 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Federal Street
Salem, MA | Essex County
Scored premium profile
Best Neighborhoods USA Index
54.2
Stability and Strength
59.8
Value Opportunity
48.2
Momentum
53.6
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Salem, MA |
| County | Essex County |
| National rank | #6,052 of 14,967 |
| State rank | #146 of 259 |
| City rank | Not available |
| County rank | Not available |
| National percentile | 59.6 |
| National band | MIDDLE_50_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $948,025 |
| Year-over-year home value change | 0.6% |
| Month-over-month home value change | 0.15% |
| Home value to income ratio | 9.07 |
| Median household income | $104,482 |
| Bachelor's degree or higher | 64.2% |
| Civilian unemployment rate | 5.8% |
| Homeownership rate | 44.0% |
| Housing vacancy rate | 2.4% |
| Rent burden 30% or higher | 49.6% |
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 Federal Street
Is Federal Street one of the best neighborhoods in Salem?
Federal Street has a Best Neighborhoods USA Index of 54.2 and a city ranking of No published Salem rank is currently available.
How much are homes worth in Federal Street?
The current Zillow Home Value Index for Federal Street is approximately $948,025.
Are home values rising or falling in Federal Street?
Zillow neighborhood values changed 0.6% year over year and 0.15% month over month.
What is the Neighborhood Momentum Score for Federal Street?
Federal Street has a Neighborhood Momentum Score of 53.6. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Federal Street?
The NDS-derived neighborhood median household income is approximately $104,482.
How affordable is Federal Street relative to household income?
The current Zillow home-value-to-household-income ratio is 9.07. Price-to-income affordability is a major Value Opportunity input.
Is Federal Street primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 44.0%.
What is the unemployment rate in Federal Street?
The NDS-derived civilian unemployment rate is approximately 5.8%.
How educated are residents of Federal Street?
Approximately 64.2% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Federal Street face high rent burden?
Approximately 49.6% 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 Federal Street?
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 applications21
Estimated originations14
Home-purchase applications10
Origination rate64.2%
Home-purchase share45.8%
Average application loan$325,822
Total application loan amount$6,973,086
National application rank#10,417 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications -0.9% YoY; originations 5.7% 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.