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 $229,053, lower than the Virginia average of $323,261.
The average cost of rent is $967/mo in Salem, primarily driven by the current value of real estate in the Salem area. While nearly 40.95% of residents own their homes outright in Salem, 23.78% rent.
Housing affordability isn’t just about home prices, though. The average household income in Salem is $6,647 per month. Households that rent pay about 14.55% 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.
Nearby Cities
- Glenvar, VA: equally priced homes
- Mason Cove, VA: equally priced homes
- Cave Spring, VA: higher priced homes
- Wabun, VA: equally priced homes
- Roanoke, VA: less expensive homes
- Hollins, VA: less expensive homes
- Catawba, VA: less expensive homes
- Lafayette, VA: less expensive homes
- Bent Mountain, VA: equally priced homes
- Elliston, VA: less expensive homes
Cities with Similar Populations
- Lemoore, CA: higher priced homes
- Russellville, AR: less expensive homes
- Mcminnville, OR: higher priced homes
- Marrero, LA: less expensive homes
- Manor, TX: equally priced homes
- Los Altos, CA: higher priced homes
- Lockport, NY: less expensive homes
- Linton Hall, VA: higher priced homes
- Lincolnton, NC: less expensive homes
- Addison, IL: higher priced homes
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