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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 $616,925, higher than the Utah average of $525,914.
The average cost of rent is $1,502/mo in Salem, primarily driven by the current value of real estate in the Salem area. In Salem, 6.35% of households rent, and 25.64% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Salem is $9,952 per month. Households that rent pay about 15.09% of their income on rent here. Salem’s most expensive areas are in the southeastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Elk Ridge, UT: equally priced homes
- Woodland Hills, UT: higher priced homes
- Payson, UT: less expensive homes
- Spanish Fork, UT: less expensive homes
- Spring Lake, UT: less expensive homes
- Mapleton, UT: higher priced homes
- Lake Shore, UT: equally priced homes
- Palmyra, UT: less expensive homes
- Santaquin, UT: less expensive homes
- Springville, UT: less expensive homes
Cities with Similar Populations
- La Trocha, PR: less expensive homes
- Kodak, TN: less expensive homes
- Kosciusko, MS: less expensive homes
- Kronenwetter, WI: less expensive homes
- Krum, TX: less expensive homes
- Kula, HI: higher priced homes
- La Center, WA: equally priced homes
- La Cumbre, PR: less expensive homes
- La Joya, TX: less expensive homes
- La Junta, CO: less expensive homes
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