Rent to Own Homes near Salem, VA

Top 3 Reasons to Live in Salem, VA

  • If you love college sports, Salem, VA is the place for you! During the 2010 census, there were 24,747 people in Salem, but the city's proximity to Roanoke makes it part of a much larger metropolitan area. Salem is home to two colleges and hosts the NCAA Division III football and men's basketball championships. Residents and visitors alike can attend a Salem Red Sox or check out the Salem High School football team, a group that has won six state championships since 1996.

Check out Salem, VA homes for sale, and rent to own

Photo
Listing Type
Description
Price
Details

3 Beds, 2 Baths

Wirtz, VA 24184

Sale Type: Rent-To-Own

3 Beds, 1 Bath

Salem, VA 24153

Sale Type: REO Foreclosure

3 Beds, 2 Baths

Roanoke, VA 24017

Sale Type: Fannie Mae/Freddie Mac

2 Beds, 1 Bath

Salem, VA 24153

Sale Type: REO Foreclosure

3 Beds, 2 Baths

Salem, VA 24153

Sale Type: REO Foreclosure

4 Beds, 2 Baths

Salem, VA 24153

Sale Type: REO Foreclosure

3 Beds, 1 Bath

Salem, VA 24153

Sale Type: REO Foreclosure

3 Beds, 2 Baths

Salem, VA 24153

Sale Type: REO Foreclosure

4 Beds, 2 Baths

Salem, VA 24153

Sale Type: Fannie Mae/Freddie Mac

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  • Rising home values! Salem has plenty of affordable housing options, and the median price of homes, as of 2014, was $209,000. In 2014, foreclosures in the area were only 0.4 homes per 10,000, much lower than the national average of 4.0. The median price for rental accommodation is $760, which is also lower than the Roanoke Metro area median of $815. Since the city has fewer delinquent mortgages, 3.4 percent compared to the national average of 6.9 percent, demand in the housing market is expected to outpace supply.
  • Historical attractions and cultural events! Salem, Virginia, has a national historic district that includes 34 buildings. The downtown neighborhood has a library, the city's farmer's market, and a park that are all on the National Register of Historic Places. The Stevens House, or the Old Post House, dates to the early 1820s. Vendors at the Salem Farmers Market offer a wide variety of farm-fresh produce from April through December. The Chef's Circle at the Farmers Market lets visitors have a taste of local favorites. Olde Salem Days is an annual festival that is held on the second Saturday of September. The event is organized by the Rotary Club and has food vendors, a classic car show, and arts and crafts.
  • Low property taxes! Residents of Salem have access to some of the lowest property taxes in the area. As of 2014, the rate is $1.18 per $100 assessed value. The state has some of the highest home ownership rates in the country, including rent to own contracts. Between 2008 and 2012, 67.8 percent of residents owned their own property, a little higher than the national average of 65.5 percent.