Housing costs in Salem?
A typical home costs
$236,500, which is 30.1% less expensive than the national average of
$338,100 and 45.3% less expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Salem costs
$1,470 per month, which is 2.8% more than the national average of
$1,430 and 16.3% cheaper than the state average of
$1,710.
Can I afford Salem?
To live comfortably in Salem New Jer County, New Jersey, a minimum annual income of
$45,360 for a family, and
$48,800 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in Salem, NJ County is lower than the national average. With a cost of living index of 91.9, it is 8.1 points below the US average of 100. This makes Salem an affordable place to live for many people, with a median house value of $236,500 compared to the US median house value of $338,100. In addition to being more affordable than other areas of the country, Salem offers residents access to excellent amenities and services that make it a great place to call home.