Housing costs in Salem?
A typical home costs
$372,700, which is 10.2% more expensive than the national average of
$338,100 and 2.9% more expensive than the average Connecticut home, at
$362,100. Renting a two-bedroom unit in Salem costs
$1,640 per month, which is 14.7% more than the national average of
$1,430 and close to the state average of
$1,660.
Can I afford Salem?
To live comfortably in Salem (zip 06420), Connecticut, a minimum annual income of
$71,280 for a family, and
$52,800 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in 06420 Salem, CT is relatively high compared to other parts of the country. The median home value is $250,400 and the median rent price is around $1,459 per month. This means that both buying and renting in this area can be pricey. However, there are plenty of job opportunities available and a well-rounded economy which can make this an attractive location for many people. Additionally, taxes in this area are quite low with no income tax on personal earnings and a very low sales tax rate of 6.35%. All in all, those looking to move to 06420 Salem, CT should expect to pay a bit more than average but will benefit from an abundance of amenities and jobs in the area.