Salem, WV is an affordable place to live with a 2 bedroom rent of only $800 as opposed to the US average of $1,430. The Grocery Cost Index in Salem is 97 which is lower than the national index of 100. Salem provides many local companies for its residents including Big Run Coal Company, Inc., SRG Global-Salem Plant and Ring Power Corporation. These businesses offer job opportunities and help strengthen the economy of Salem.
Salem has an unemployment rate of 5.8%. The US average is 6.0%.
Salem has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 37.3%, which is higher than the US average of 33.5%.
Tax Rates for Salem
- The Sales Tax Rate for Salem is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Salem is 6.5%. 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 $14,721 a year. The US average is $28,555 a year.
- The Median household income of a Salem resident is $42,663 a year. The US average is $69,021 a year.