Housing costs in Salem?
A typical home costs
$157,200, which is 53.5% less expensive than the national average of
$338,100 and 26.0% less expensive than the average Missouri home, at
$212,300. Renting a two-bedroom unit in Salem costs
$750 per month, which is 47.6% cheaper than the national average of
$1,430 and 26.7% cheaper than the state average of
$950.
Can I afford Salem?
To live comfortably in Salem, Missouri, a minimum annual income of
$30,240 for a family, and
$22,800 for a single person is recommended.
What does A.I. say about Salem?
The cost of living in Salem, MO is generally considered to be quite reasonable. According to BestPlaces, the cost of living index for Salem is around 67.7, which is lower than the US average of 100. Housing costs here are especially affordable compared to other parts of the country, with an average rent for a one bedroom apartment coming in at around $400 per month and homeowners spending an average of $1,000 on monthly housing expenses. In addition, food prices tend to be very reasonable and utilities are also relatively inexpensive. All in all, Salem offers a great quality of life without breaking your budget.