Housing costs in Salem?
A typical home costs
$260,300, which is 23.0% less expensive than the national average of
$338,100 and 24.2% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Salem costs
$1,090 per month, which is 23.8% cheaper than the national average of
$1,430 and 28.4% cheaper than the state average of
$1,400.
Can I afford Salem?
To live comfortably in Salem, Virginia, a minimum annual income of
$50,040 for a family, and
$35,600 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in Salem, VA is relatively affordable compared to other parts of the state. The median home value is around $158,000 which is well below the national average of $184,700. Renting a one-bedroom apartment in Salem would be around $600 per month while the national average for a one bedroom averages out to about $950. Groceries and utilities are also fairly inexpensive compared to the rest of the country. All in all, Salem is an affordable place to live and enjoy a quality lifestyle at an affordable cost.