Cost of Living in Salem, VA
Population 25,618 · Census ACS 2020–2024 5-year estimates
The median rent in Salem, VA is $1,133/month, 28% lower than the Virginia median and 20% lower than the U.S. median. The median home value is $258,600, 22% lower than the national median. Households earn a median of $66,725 a year, 28% lower than the state median.
Affordability
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Salem vs. Virginia vs. U.S.
| Salem | Virginia | U.S. | |
|---|---|---|---|
| Median rent | $1,133 | $1,579 | $1,413 |
| Median home value | $258,600 | $383,700 | $332,700 |
| Median household income | $66,725 | $93,170 | $80,734 |
| Homeownership rate | 62.8% | 67.3% | 65.2% |
| Bachelor's degree or higher | 33.0% | 42.2% | 35.7% |
| Poverty rate | 10.2% | 9.9% | 12.5% |
| Unemployment rate | 3.6% | 4.3% | 5.2% |
| Work from home | 10.8% | 18.3% | 15.1% |
| Median age | 40.0 | 39.0 | 38.9 |
FAQ
What is the average rent in Salem, VA?
The median gross rent in Salem, VA is $1,133 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Salem, VA?
Using the common 30% rule, renting a median-priced home takes about $45,320 a year in gross income.
Is Salem, VA expensive to live in?
Rent there is 20% lower than the U.S. median, and the median home costs about 3.9 times the median household income.
Other cities in Virginia
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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