Housing costs in Salem?
A typical home costs
$88,900, which is 73.7% less expensive than the national average of
$338,100 and 63.2% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Salem costs
$710 per month, which is 50.3% cheaper than the national average of
$1,430 and 77.5% cheaper than the state average of
$1,260.
Can I afford Salem?
To live comfortably in Salem, Illinois, a minimum annual income of
$16,920 for a family, and
$23,200 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in Salem, IL is quite affordable compared to many other areas of the country. The median home value for the city is $76,100 with an average monthly rent of $495 per month. The city also has a low unemployment rate at just 3.7%, which helps keep expenses down for residents. Additionally, the local economy is quite diverse, providing a wide range of jobs and opportunities for those looking to stay employed and financially secure. While Salem may not be as cheap as some other cities, it does offer its residents an excellent quality of life for a reasonable price.