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These days, finding an affordable place to live in the Salem area can be challenging. Home prices in Salem are now at a median cost of $238,978, higher than the Alabama average of $228,911.
The average cost of rent is $1,010/mo in Salem, primarily driven by the current value of real estate in the Salem area. In Salem, 10.93% of households rent, and 50.23% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Salem is $6,116 per month. Households that rent pay about 16.51% of their income on rent here. Salem’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Powledge, AL: higher priced homes
- Smiths, AL: higher priced homes
- Smiths Station, AL: less expensive homes
- Roanoke Junction, AL: equally priced homes
- Phenix City, AL: less expensive homes
- Piney Grove, GA: higher priced homes
- Opelika, AL: equally priced homes
- Fortson, GA: higher priced homes
- Highland Pines, GA: higher priced homes
- Mountain Hill, GA: higher priced homes
Cities with Similar Populations
- Woodfield, SC: less expensive homes
- Lake Park, GA: equally priced homes
- Lakes, AK: higher priced homes
- Lamar, CO: less expensive homes
- Lambertville, NJ: higher priced homes
- Landrum, SC: higher priced homes
- Lanoka Harbor, NJ: higher priced homes
- Lansdowne, MD: equally priced homes
- Laughlin, NV: higher priced homes
- Laurel, FL: higher priced homes
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