Housing costs in Salem?
A typical home costs
$162,600, which is 51.9% less expensive than the national average of
$338,100 and 26.6% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Salem costs
$830 per month, which is 42.0% cheaper than the national average of
$1,430 and 18.1% cheaper than the state average of
$980.
Can I afford Salem?
To live comfortably in Salem, Indiana, a minimum annual income of
$31,320 for a family, and
$25,200 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in Salem, IN is quite reasonable. The overall cost of living index is 80.8, which is lower than the national average. Housing costs are especially low, with a median home value of just $87,400 and median rent at $580 per month. Food and transportation costs are also relatively low, making it easy to get by on a budget in this small town. Additionally, Salem has a variety of job opportunities that offer competitive wages to help offset the cost of living. Overall, people who live in Salem tend to find it an affordable place to call home.