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 $125,776, lower than the New Jersey average of $388,929.
The average cost of rent is $1,132/mo in Salem, primarily driven by the current value of real estate in the Salem area. While nearly 49.58% of residents own their homes outright in Salem, 44.87% rent.
Housing affordability isn’t just about home prices, though. The average household income in Salem is $4,329 per month. Households that rent pay about 26.14% of their income on rent here. Salem's most expensive areas are in the southeastern regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- Quinton, NJ: higher priced homes
- Penton, NJ: higher priced homes
- Hancocks Bridge, NJ: higher priced homes
- Sinnickson Landing, NJ: higher priced homes
- Pointers, NJ: higher priced homes
- Fort Elfsborg, NJ: higher priced homes
- Woodmere, NJ: higher priced homes
- Mahoneyville, NJ: higher priced homes
- Alloway, NJ: higher priced homes
- Marshalltown, NJ: higher priced homes
Cities with Similar Populations
- Seven Points, TX: higher priced homes
- Sandy Hook, CT: higher priced homes
- Sans Souci, SC: higher priced homes
- Santa Clara, UT: higher priced homes
- Satsuma, AL: higher priced homes
- Sauk Village, IL: less expensive homes
- Savoy, IL: higher priced homes
- Sayre, PA: higher priced homes
- Scotchtown, NY: higher priced homes
- Seaside, OR: higher priced homes
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