Housing costs in Salem?
A typical home costs
$174,100, which is 48.5% less expensive than the national average of
$338,100 and 21.4% less expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Salem costs
$860 per month, which is 39.9% cheaper than the national average of
$1,430 and 14.0% cheaper than the state average of
$980.
Can I afford Salem?
To live comfortably in Salem (zip 47167), Indiana, a minimum annual income of
$33,480 for a family, and
$26,400 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in Salem, Indiana (47167) is quite reasonable compared to other parts of the country. The median home price in the city is $119,000, which is significantly lower than the national median of $231,200. The median household income here is also lower than the national average at just over $45,000 per year. The cost of living index for Salem is 88.7, which is lower than the US average of 100. This suggests that everyday expenses such as groceries and housing are considerably cheaper in Salem than elsewhere in America. Moreover, utilities like gas and electricity tend to be more affordable here too.