Salem, NH is a small city located in the greater New England area. It has a population of just over 30,000 people and is known for its natural beauty and close-knit community. The cost of living in Salem is slightly higher than the national average, with an average 2 bedroom rent at $1,620 compared to the US average of $1,430. Grocery costs are also higher in Salem: with an index score of 107 versus 100 in the US. Despite the higher cost of living, there are many benefits to living in Salem that make it a desirable place to live.
The local economy in Salem is strong due to large corporate employers like Merck and Cirtronics as well as other local businesses such as Brookstone Park and Coldwell Banker Realty. There are plenty of outdoor activities for residents to enjoy including skiing at McIntyre Ski Area or golfing at Windham Country Club. Other popular attractions include Rockingham Park Racetrack, America’s Stonehenge and Canobie Lake Park. Overall, Salem offers a great quality of life for residents who appreciate its mix of natural beauty and economic opportunities.
Salem has an unemployment rate of 3.8%. The US average is 6.0%.
Salem has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 32.3%, which is lower than the US average of 33.5%.
Tax Rates for Salem
- The Sales Tax Rate for Salem is 0.0%. The US average is 7.3%.
- The Income Tax Rate for Salem is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Salem
- The average income of a Salem resident is $36,734 a year. The US average is $28,555 a year.
- The Median household income of a Salem resident is $91,276 a year. The US average is $69,021 a year.