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 $136,495, lower than the Indiana average of $175,617.
The average cost of rent is $580/mo in Salem, primarily driven by the current value of real estate in the Salem area. While nearly 47.54% of residents own their homes outright in Salem, 23.38% rent.
Housing affordability isn’t just about home prices, though. The average household income in Salem is $4,410 per month. Households that rent pay about 13.15% of their income on rent here. Salem's most expensive areas are in the southwestern regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- McCol Place, IN: higher priced homes
- Canton, IN: higher priced homes
- Hitchcock, IN: less expensive homes
- South Boston, IN: higher priced homes
- Kossuth, IN: equally priced homes
- Smedley, IN: less expensive homes
- Pumpkin Center, IN: less expensive homes
- Little York, IN: equally priced homes
- New Pekin, IN: less expensive homes
- New Philadelphia, IN: higher priced homes
Cities with Similar Populations
- Little Falls, NJ: higher priced homes
- McFarland, WI: higher priced homes
- Manhattan, IL: higher priced homes
- Manasquan, NJ: higher priced homes
- Madras, OR: higher priced homes
- Macedonia, OH: higher priced homes
- Mabank, TX: higher priced homes
- Lumberton, NJ: higher priced homes
- Lowell, AR: higher priced homes
- Loudon, TN: higher priced homes
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