Salem city, Virginia: commercial real estate data.
Salem city, Virginia has a population of 25,618 across 14 square miles, up 2.2 percent since the 2020 census base. 994 establishments operate here, and the SBA record carries 25 7(a) approvals worth $15.8 m.
110 sourced county values · tier FULL · 10 sections
Salem city
How many people live in Salem city
- Population25,618
- Households10,256
- Average household size2.50
- Median household income$66,725
- Median age40.0
- Median gross rent$1,133 per month
- Median owner-occupied home value$258,600
- Home value to household income3.9 times
- Annual rent as a share of median income20.4 percent
- Adults 25 and over with a bachelor degree or higher33.0 percent
- Adults 25 and over with a graduate degree13.6 percent
- Adults 25 and over17,116
- Population under 184,989
- Share under 1819.5 percent
- Population 65 and over5,016
- Share 65 and over19.6 percent
- Working age population, 18 to 6415,613
- Civilian labor force12,759
- Unemployment rate3.6 percent
- Labor force participation, adults 18 and over61.8 percent
- Rank by population among Virginia independent cities69th of 133
- Rank by population among US county-equivalents1631st
Salem city is the 69th largest of 133 Virginia independent cities by population. A median home costs 3.9 times median household income, which is an affordable ownership market by national standards. Residents 65 and over outnumber those under 18, at 19.6 percent against 19.5 percent, which points demand at health care, services and single storey product rather than schools.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Salem city
Is Salem city growing
- Population change since the 2020 census base2.24 percent
- Census 2020 base population25,341
- Births, 2024332
- Deaths, 2024369
- Natural change, 2024-37
- Net domestic migration, 2024132
- Net international migration, 2024144
- Total net migration, 2024276
- Cumulative net domestic migration, 2021 to 2024418
- Rank by growth among US county-equivalents1092nd
The county has grown 2.24 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Salem city
Where people moving to Salem city come from
- Tax returns filed by households arriving1,130
- People arriving, from those returns1,960
- Adjusted gross income arriving$63.4 m
- Net adjusted gross income movement$0
- Average income of an arriving household$56,135
- Largest single originSalem city Non-migrants (9,175 households)
- Largest single destination (9,175 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Salem city Non-migrants | 9,175 | 17,580 | $729.1 m |
| Roanoke County | 296 | 532 | $18.4 m |
| Roanoke city | 287 | 509 | $14.4 m |
| Other flows - Different State | 274 | 482 | $16.1 m |
| Other flows - South | 157 | 283 | $9.1 m |
| Other flows - Same State | 147 | 229 | $7.2 m |
| Other flows - West | 50 | 81 | $3.3 m |
| Other flows - Northeast | 41 | 73 | $2.2 m |
The largest single source of arrivals is Salem city Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Salem city
Who employs people in Salem city
- Covered employment, annual average20,481
- Establishments reporting1,123
- Average annual pay$63,388
- Average weekly wage$1,219
- Sector 62, employment3,470
- Sector 62, average annual pay$63,836
- Sector 31-33, employment2,708
- Sector 31-33, average annual pay$76,183
- Sector 42, employment1,992
- Sector 42, average annual pay$85,085
- Sector 72, employment1,586
- Sector 72, average annual pay$24,137
- Sector 44-45, employment1,546
- Sector 56, employment838
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 3,470 | 192 | $63,836 |
| Sector 31-33 | 2,708 | 60 | $76,183 |
| Sector 42 | 1,992 | 61 | $85,085 |
| Sector 72 | 1,586 | 96 | $24,137 |
| Sector 44-45 | 1,546 | 108 | $33,652 |
| Sector 56 | 838 | 60 | $44,880 |
| Sector 61 | 643 | 12 | $49,335 |
| Sector 54 | 612 | 90 | $81,030 |
The largest sector is the biggest private employer group at 3,470 jobs, 16.9 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Salem city
What businesses operate in Salem city
- Establishments, all industries994
- Employment at those establishments19,148
- Annual payroll$1.15 bn
- Establishments per 1,000 residents38.8
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Salem city
What is being built in Salem city
- Housing units authorised by permit, 2024268
- Declared construction value permitted$41.9 m
- Single family units authorised20
- Multifamily units authorised248
- Multifamily share of units92.5 percent
- Average declared value per unit$156,421
- Units authorised per 1,000 households26.1
Multifamily is 92.5 percent of units authorised, so the pipeline is being built for renters rather than buyers.
US Census Bureau, Building Permits Survey, 2024 annual.
Salem city
How much SBA lending happens in Salem city
- 7(a) approvals recorded25
- 7(a) gross approval dollars$15.8 m
- Average 7(a) approval$630,896
- Median 7(a) approval$288,000
- 10th percentile approval$30,000
- 90th percentile approval$1,802,000
- Largest single approval$3,932,000
- Jobs reported supported, 7(a)540
- Jobs per approval21.6
- Distinct 7(a) lenders active15
- Distinct industries receiving approvals19
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer16.0 percent
- Loans on real estate terms4
- Loans on working capital terms, 120 months or shorter18
- Franchise loans5
- Franchise share of approvals20.0 percent
- Leading industry by approval countSiding Contractors (2)
- Most active lenderPinnacle Bank (4)
- 504 approvals recorded3
- 504 gross approval dollars$2.6 m
- Average 504 approval$857,333
- Median 504 approval$704,000
- Distinct CDCs active3
- 504 jobs per approval45.7
- 504 jobs per million dollars approved53.3
- Most active CDC504 Capital Corporation (1)
- 7(a) share of SBA approvals89.3 percent
- Combined SBA approval dollars$18.3 m
The average approval of $630,896 sits well above the median of $288,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 16.0 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Salem city
Do SBA loans in Salem city get paid back
- Loans with a final outcome recorded3
- Paid in full2
- Charged off1
- Status: Exempt from disclosure19
- Status: Charged off1
- Status: Cancelled3
- Status: Paid in full2
Too few loans have reached a final outcome to publish a charge off rate. only 3 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Salem city
Which parts of Salem city get the lending
- Places in the county with recorded lending2
- SALEM, approvals24
- PLEASANTON, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| SALEM | 24 | $14,572,400 |
| PLEASANTON | 1 | $1,200,000 |
SALEM accounts for 24 approvals against 1 in PLEASANTON. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Salem city
How big is Salem city
- Land area14 sq mi
- Rank by land area among Virginia independent cities113th of 133
- Width, east to west5.6 mi
- Height, north to south3.1 mi
- Geographies sharing a boundary2
- Residents per square mile of land1,830
- Establishments per square mile71.00
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Salem city site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Salem city site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population25,618
- Households10,256
- Average household size2.50
- Median household income$66,725
- Median age40.0
Common questions
Salem city questions, answered from the record.
How many people live in Salem city, Virginia?
25,618, in 10,256 households, ranking 69th of 133 Virginia counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Salem city growing?
The population has grown 2.24 percent since the 2020 census base. In 2024 there were 332 births against 369 deaths, with net migration of 276. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Salem city?
$66,725. The median owner-occupied home is valued at $258,600, which is 3.9 times income, and median gross rent is $1,133 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Salem city?
994 establishments, employing 19,148 people with an annual payroll of $1.15 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Salem city?
Average annual pay is $63,388, or $1,219 a week, across 20,481 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Salem city?
25 7(a) approvals totalling $15.8 m since FY2020, across 15 lenders, with a median approval of $288,000, plus 3 504 approvals worth $2.6 m. These are approvals recorded in the release, not loans disbursed.
What is being built in Salem city?
268 housing units were authorised by permit in 2024, with a declared construction value of $41.9 m. Multifamily was 92.5 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Salem city?
Zone 1, a predicted average indoor radon screening level greater than 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Salem city come from?
The largest single origin is Salem city Non-migrants, with 9,175 households. Arriving households report an average income of $56,135 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Salem city on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Salem city?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.