Housing costs in Salem?
A typical home costs
$167,500, which is 50.5% less expensive than the national average of
$338,100 and 37.3% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Salem costs
$790 per month, which is 22.5% cheaper than the national average of
$1,020 and 12.7% cheaper than the state average of
$890.
Can I afford Salem?
To live comfortably in Salem (zip 87941), New Mexico, a minimum annual income of
$32,040 for a family, and
$27,200 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in 87941 Salem, NM is quite affordable. The median home value sits at just $87,000, which is well below the national average, and the median rent hovers around $650 per month. Utilities are also relatively inexpensive in Salem, with electricity averaging about $104 per month. Groceries are also relatively low-priced, with a total cost index of approximately 88%. In addition to its affordability, Salem offers plenty of amenities and attractions for residents, including museums, galleries, and annual events like the Fourth of July celebration.