Home Price Key
Affordable
Average
Expensive
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 $81,140, lower than the Illinois average of $242,002.
The average cost of rent is $643/mo in Salem, primarily driven by the current value of real estate in the Salem area. While nearly 48.67% of residents own their homes outright in Salem, 33.47% rent.
Housing affordability isn’t just about home prices, though. The average household income in Salem is $4,684 per month. Households that rent pay about 13.73% of their income on rent here. Salem's most expensive areas are in the central regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- Selmaville, IL: higher priced homes
- Tonti, IL: higher priced homes
- Brubaker, IL: higher priced homes
- Odin, IL: equally priced homes
- Kell, IL: higher priced homes
- Alma, IL: higher priced homes
- Hubbard Woods, IL: higher priced homes
- Sandoval, IL: equally priced homes
- Iuka, IL: equally priced homes
- Junction City, IL: equally priced homes
Cities with Similar Populations
- Rossmoor, CA: higher priced homes
- Lake Bluff, IL: higher priced homes
- Lake City, SC: higher priced homes
- Lake Hopatcong, NJ: higher priced homes
- Lake Mohawk, NJ: higher priced homes
- Lake Park, FL: higher priced homes
- Lasalle, IL: higher priced homes
- Red Bank, SC: higher priced homes
- Rising Sun, MD: higher priced homes
- River Grove, IL: higher priced homes
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