Cost of living in Salem research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Salem is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Salem is 78, with 100 being the average.
The cost of living index in Salem is 0.8x lower than the national average.
Salem ranks as the #5 cheapest in Illinois out of 338.
Salem ranks as the #113 cheapest out of 6,412 in the US.
The median home value in Salem is $80,800.
The median income in Salem is $51,559.
According to the most recent data on the cost of living, Salem has an overall cost of living index of 78, which is 0.8x lower than the national index of 100.
Compared to Illinois, Salem has a cost of living index that's 0.8x lower than Illinois's index of 92.
The standard of living in Salem ranks as #5 most affordable out of the 338 places we measured in Illinois. By definition, that implies Salem ranks as the #333 most expensive place in the Prairie State.
For more reading on life in Salem, check out:
Six factors go into calculating the cost of living index in Salem. Here is how it fairs on each of the criteria:
The Services index in Salem is 92.
The Groceries index in Salem is 102.
The Health index in Salem is 91.
The Housing index in Salem is 45.
The Transportation index in Salem is 91.
The Utilities index in Salem is 97.
|Living Expense||Salem||Illinois||National Average|
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Salem is $80,800.
The Median Rent in Salem is $691.
The Median Income in Salem is $51,559.
The Home Value To Income in Salem is 1.6x.
The Rent To Monthly Income in Salem is 0.16x.
|Median Home Value||$80,800||$212,600||$244,900|
|Home Value To Income||1.6x||2.9x||3.5x|
|Rent To Monthly Income||0.16x||0.18x||0.2x|
The cost of living varies in the cities and towns around Salem. Here's a quick look at the cost of living in the most populous nearby places:
Central, LA has a cost of living index of 96, 1.2x Salem.
Mount Vernon, IL has a cost of living index of 79, 1.0x Salem.
Effingham, IL has a cost of living index of 83, 1.1x Salem.
|City||Population||Cost Of Living||Vs. Salem|
|Mount Vernon, IL||14,614||79||1.0x|
|Du Quoin, IL||5,842||77||1.0x|