Housing costs in Salem?
A typical home costs
$170,200, which is 49.7% less expensive than the national average of
$338,100 and 60.6% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Salem costs
$1,300 per month, which is 24.0% cheaper than the national average of
$1,710 and 13.1% cheaper than the state average of
$1,470.
Can I afford Salem?
To live comfortably in Salem (zip 08079), New Jersey, a minimum annual income of
$32,760 for a family, and
$43,200 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in 08079 Salem, NJ is relatively high for a small city in New Jersey. According to the Cost of Living Index, the cost of goods and services in this area is about 20 percent higher than the national average. However, the median household income in 08079 Salem is nearly 70 percent higher than the state average, which helps offset the higher costs of living. Despite its high cost of living, 08079 Salem is an attractive place to live because it offers plenty of amenities like great restaurants and shops, as well as a variety of recreational activities like biking and fishing.