One of America’s Hottest ZIP Codes Offers Bang for Your Buck—and Is a Halloween Lover’s Paradise

Homebuyers looking to save a bundle by moving out of a pricey urban area—and those who break out the Halloween decor in August—are in luck.

The ZIP code that ranked third on the Realtor.com® Hottest ZIP Code in America list is 01970 in Salem, MA, which landed in the rankings for the first time.

Even though Salem is only 16 miles north of Boston, housing is hundreds of thousands of dollars cheaper there than in the city. Indeed, the median home listing price in Salem in June 2024 was $254,000 less than in the Boston metro area.

“Salem offers the advantages of urban living without the hefty price tag,” says real estate agent Andrea Bennett, of William Raveis Real Estate in Salem, MA.

This historic coastal town—best known for the 1692 Salem witch trials—has a small-town feel with only around 44,000 residents. But Salem is anything but a ghost town in October since it’s America’s All Hallows’ Eve Capital.

“On Halloween night, imagine Mardi Gras, except with better costumes,” says real estate agent Jim Armstrong, of Armstrong Field Real Estate in Salem, MA.

“It is wall-to-wall people in downtown Salem, with over a million people visiting during the month,” adds Stacia Cooper, assistant director of Destination Salem.

Here’s everything you need to know about this charming New England city and why buyers are so drawn to the area.

Salem’s homes are hot properties

If you snooze, you just might lose when buying a home in Salem.

Homes in the Massachusetts suburb spent a median of 16 days on the market in the first half of 2024—that’s 37 days less than the national average.

“Salem is still experiencing some bidding wars, as there is a shortage of available homes, and the demand is still there,” says Armstrong. “I don’t anticipate that changing anytime soon, especially with the falling mortgage interest rates.”

Properties in the 01970 ZIP code were so sought after that they attracted 3.6 times as many views per listing from January through June 2024 compared with the U.S. median.

The hottest ZIP codes list was compiled by analyzing housing market supply and demand using Realtor.com listing data from January to June 2023. The economic research team assessed the number of views each listing received and the speed at which homes were sold. The list was limited to just one ZIP code per metropolitan area to keep things competitive.

What a home will cost you in Salem

“Though higher-priced than the U.S. median, ZIP 01970 was more affordable than the Boston metro median in June,” says Realtor.com senior economic research analyst Hannah Jones.

Salem’s ZIP code boasted a median list price of $596,000 in June—coming in at 28.9% below the Boston metro average which is $879,000.

“Salem also has more condos than most towns north of Boston in all price ranges, which gives buyers a lot of options,” says Armstrong.

Employment is a key draw

The job market is thriving, and top employers in town include Salem Hospital, the City of Salem, and Salem State University.

Earlier this month, Massachusetts Gov. Maura Healey broke ground on the $300 million Salem Offshore Wind Terminal, which is set to open in 2026. It will be used for staging and assembly of turbine components and is expected to create hundreds of new jobs, which should draw even more people to the area.

Who’s shopping Salem housing?

New York metro shoppers are bewitched by Salem, with 12.9% of the city’s home listing views in the first half of 2024 coming from there.

However, a great deal of interest in Salem was closer to home, with 42.5% of its home listing views coming from within the Boston metro area during that time.

“People far and wide are drawn to this very inclusive and diversified community,” says Armstrong.

Plus, it’s an easy commute into Beantown.

“The Massachusetts Bay Transportation Authority commuter rail is centrally located, and residents can use the Salem Ferry when it’s in season,” explains Cooper.

Walkable Salem is full of beaches and green spaces

Salem’s seaside location is a huge perk, with Dead Horse Beach, Devereux Beach, and Nahant Beach all under 10 miles away from Salem proper.

The downtown area is 1 mile wide and within walking distance of countless points of interest, such as the Peabody Essex Museum and the Salem Witch Trials Memorial. For nature lovers, Salem boasts more than 30 miles of walking, running, and biking trails.

“Plus, there are conveniences such as Bluebikes Salem bike rentals and the Salem Skipper rideshare service for ease if walking is not your thing,” explains Cooper.

With its vibrant nightlife, craft brewing scene, and culinary arts scene, Salem is attracting more young people. However, the city boasts a lower share of households aged 45-plus than the national average.

“But above all, people are moving to Salem for the incredible community,” Bennett says. “People here really know and take care of their neighbors.”

Ready to shop for a home in Salem? Check out these listings below.

49 Summit St, Salem, MA, 01970

Price: $529,900

10 Rawlins St, Salem, MA, 01970

Price: $619,000

19 Webb St, Salem, MA, 01970

Price: $650,000