Cost of Living in Salem, IL
Housing
The housing market plays a significant role in determining the cost of living in Salem, IL.
- Housing Index: Data is updating
- Median Home Price is: $95,000
- Average Rent (2 BR Apartment): Data is updating
- Average Rent (2 BR House): Data is updating
Considering the data for Salem, IL, the housing index is notably low at 0.0, suggesting an affordable market. The median home price is favorably priced at 95000, indicating potential property purchasing opportunities. However, it is crucial to note that both the average rent for a 2-bedroom apartment and house are recorded as zero. This lack of rental data might indicate limited rental options, which could affect overall demand and investment viability. Prospective residents should weigh these factors, possibly including neighborhood amenities and local job markets, to make a well-informed decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Salem, IL.
- Electricity Price: $16.15 USD (median by state)
- Natural Gas Price: $16.59 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): Data is updating
Living in Salem, IL could entail higher utility costs. Electricity costs sit at $16.15, while natural gas is priced at $16.59 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about data unavailable monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Salem is a financially viable option for your relocation.