Housing costs in Salem?
A typical home costs
$258,700, which is 23.5% less expensive than the national average of
$338,100 and 20.9% more expensive than the average Alabama home, at
$214,000. Renting a two-bedroom unit in Salem costs
$1,290 per month, which is 9.8% cheaper than the national average of
$1,430 and 27.1% more than the state average of
$940.
Can I afford Salem?
To live comfortably in Salem (zip 36874), Alabama, a minimum annual income of
$49,680 for a family, and
$40,000 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in 36874 Salem, AL is quite affordable. The median home value in the area is just over $118,500 and the median household income is approximately $45,800. The unemployment rate is around 5.3%, which is slightly below the national average of 5.7%. The average monthly rent for apartments or houses in the city is around $495, making it an excellent option for those looking to save money on housing costs. Groceries tend to be a bit more expensive than the national average, but overall prices are still relatively low compared to many other cities across the nation.