Salem, Missouri is a great place to live. With its low cost of living, the 2 bedroom rent in Salem MO is only $750 compared to the national average of $1,430. The grocery cost index in Salem is also 95 versus the 100 in the US. It’s an affordable place to call home. It is home to several local businesses such as White River Electric Cooperative Inc., Ozark Health Nursing Home and Rehabilitation Center, and Carlisle Tire & Wheel. These are just a few of the many businesses that offer quality services and products while keeping prices competitive.
Salem has an unemployment rate of 4.1%. The US average is 6.0%.
Salem has seen the job market decrease by 0.0% over the last year. Future job growth over the next ten years is predicted to be 19.4%, which is lower than the US average of 33.5%.
Tax Rates for Salem
- The Sales Tax Rate for Salem is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Salem is 5.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Salem
- The average income of a Salem resident is $19,356 a year. The US average is $28,555 a year.
- The Median household income of a Salem resident is $31,575 a year. The US average is $69,021 a year.