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 $69,493, lower than the New Mexico average of $199,923.
The average cost of rent is $429/mo in Salem, primarily driven by the current value of real estate in the Salem area. While nearly 84.76% of residents own their homes outright in Salem, 39.09% rent.
Housing affordability isn’t just about home prices, though. The average household income in Salem is $1,847 per month. Households that rent pay about 23.25% of their income on rent here. Salem's most expensive areas are in the central regions, while the cheapest areas are in the southern parts of the city.
Nearby Cities
- Garfield, NM: less expensive homes
- Hatch, NM: higher priced homes
- Rodey, NM: equally priced homes
- Derry, NM: higher priced homes
- Rincon, NM: less expensive homes
- Arrey, NM: higher priced homes
- Hillsboro, NM: higher priced homes
- Kingston, NM: higher priced homes
- Sherman, NM: equally priced homes
- San Lorenzo, NM: higher priced homes
Cities with Similar Populations
- Farmington, CA: higher priced homes
- Hanalei, HI: higher priced homes
- Garrett, PA: higher priced homes
- Garber, OK: higher priced homes
- Gap Creek, TN: higher priced homes
- Forty Four, AR: higher priced homes
- Fort Buchanan, PR: higher priced homes
- Forreston, TX: higher priced homes
- Fontana, KS: higher priced homes
- Flackville, NY: higher priced homes
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