Housing costs in Salem?
A typical home costs
$505,900, which is 49.6% more expensive than the national average of
$338,100 and 9.2% less expensive than the average Massachusetts home, at
$557,300. Renting a two-bedroom unit in Salem costs
$2,190 per month, which is 53.1% more than the national average of
$1,430 and 2.3% more than the state average of
$2,140.
Can I afford Salem?
To live comfortably in Salem, Massachusetts, a minimum annual income of
$96,840 for a family, and
$71,600 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in Salem, MA is slightly higher than the national average. The median household income in Salem is $55,319 and the median home value is $369,200. The average price for a one-bedroom apartment in Salem is around $1,400 a month. Groceries, transportation, and utilities are also slightly more expensive than the national average. The overall cost of living in Salem allows residents to enjoy an upscale lifestyle with access to high quality shops, restaurants, and activities.