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Affordable
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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 $127,428, lower than the Arkansas average of $207,061.
The average cost of rent is $644/mo in Salem, primarily driven by the current value of real estate in the Salem area. In Salem, 29.16% of households rent, and 47.19% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Salem is $3,573 per month. Households that rent pay about 18.03% of their income on rent here. Salem’s most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Moko, AR: equally priced homes
- Wheeling, AR: equally priced homes
- Glencoe, AR: less expensive homes
- Sturkie, AR: higher priced homes
- Morriston, AR: less expensive homes
- Heart, AR: less expensive homes
- Camp, AR: higher priced homes
- Wiseman, AR: less expensive homes
- Viola, AR: higher priced homes
- Day, AR: equally priced homes
Cities with Similar Populations
- Avoca, PA: higher priced homes
- Crosby, MN: higher priced homes
- Penns Neck, NJ: higher priced homes
- Centreville, MI: higher priced homes
- Sanbornville, NH: higher priced homes
- Bow, WA: higher priced homes
- Baltic, CT: higher priced homes
- Trappe, MD: higher priced homes
- Malta, OH: higher priced homes
- Mansfield, MO: higher priced homes
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