Housing costs in Salem?
A typical home costs
$448,000, which is 32.5% more expensive than the national average of
$338,100 and 4.4% less expensive than the average Oregon home, at
$468,400. Renting a two-bedroom unit in Salem costs
$1,290 per month, which is 15.1% cheaper than the national average of
$1,520 and 3.1% more than the state average of
$1,250.
Can I afford Salem?
To live comfortably in Salem (zip 97306), Oregon, a minimum annual income of
$85,680 for a family, and
$40,800 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in 97306 Salem, OR is generally considered to be higher than the national average. According to Best Places, the median household income in 97306 Salem, OR is $54,152 which is above the national average of $50,221. The overall cost of living index in this zip code is 107.7 which means it is 7.7% more expensive than the national average. Groceries, utilities and health care tend to be on the pricier side with costs being about 10% above the national average for each category. Housing is also more expensive with median home values in 97306 being $277,500 compared to a national median home value of $210,400.