Housing costs in Salem?
A typical home costs
$87,700, which is 74.1% less expensive than the national average of
$338,100 and 54.9% less expensive than the average Kentucky home, at
$194,300. Renting a two-bedroom unit in Salem costs
$670 per month, which is 53.1% cheaper than the national average of
$1,430 and 37.3% cheaper than the state average of
$920.
Can I afford Salem?
To live comfortably in Salem, Kentucky, a minimum annual income of
$16,920 for a family, and
$20,800 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in Salem, KY is relatively low compared to the national average. According to the BestPlaces Cost of Living Index, the cost of living in Salem, KY is about 24% lower than the US average. This makes it an affordable option for residents looking for a new place to live. Prices for groceries, transportation, utilities, and healthcare tend to be below average. The area’s moderate climate also adds to its affordability; with housing prices staying relatively low and temperatures rarely reaching extreme highs or lows, Salem offers an attractive option for those looking to relocate without breaking the bank.