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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 $171,867, lower than the Texas average of $322,096.
The average cost of rent is $1,320/mo in Salem, primarily driven by the current value of real estate in the Salem area. In Salem, 6.86% of households rent, and 36.32% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Salem is $6,783 per month. Households that rent pay about 19.46% of their income on rent here. Salem’s most expensive areas are in the central 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
- Wright City, TX: less expensive homes
- Price, TX: less expensive homes
- Turnertown, TX: less expensive homes
- Walnut Grove, TX: higher priced homes
- Sinclair City, TX: less expensive homes
- Troup, TX: higher priced homes
- Selman City, TX: less expensive homes
- Arp, TX: higher priced homes
- Griffin, TX: higher priced homes
- New London, TX: less expensive homes
Cities with Similar Populations
- The Landing, MO: equally priced homes
- Floral, KY: equally priced homes
- Futheyville, MS: less expensive homes
- Garbutt, NY: higher priced homes
- Georgeville, MN: higher priced homes
- Sykes, TN: higher priced homes
- Tabiona, UT: higher priced homes
- Talmoon, MN: higher priced homes
- Tanner, KY: higher priced homes
- Tannery, WV: less expensive homes
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