Salem, Oregon is an affordable place to live with the average 2 bedroom rent at $1,270 compared to the US average of $1,430. The cost of groceries in Salem is also competitive with a Grocery Cost Index of 100 versus the US benchmark. The town hosts a variety of large and small businesses such as Oregon Electric Group, Santiam Brewing and Willamette Valley Fruit Company. In addition, local attractions like the Historic Ironworks Plaza and the Hallie Ford Museum of Art make Salem a great place to live.
Salem has an unemployment rate of 6.2%. The US average is 6.0%.
Salem has seen the job market decrease by -0.1% over the last year. Future job growth over the next ten years is predicted to be 40.2%, which is higher 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 9.0%. 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 $23,201 a year. The US average is $28,555 a year.
- The Median household income of a Salem resident is $62,185 a year. The US average is $69,021 a year.