Quick facts: Salem, OH

Quick Facts

96.4
Cost of Living
below US average
11,729
Population
18.07
Crime Rate per 1000
below US average
$45,380
Median Income
below US average
$214,900
Median House Price
above US average
$831.11
Average Rent
below US average
10%
Poverty Rate
below US average
5.0%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $45,380.

🏠

Income Needed to Buy

βœ— Stretch
$67k/year
Based on $214,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $67k vs median $45,380
🏒

Income Needed to Rent

βœ“ Affordable
$36k/year
Based on $831.11/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($45,380) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Salem, OH

Salem is a charming city located in northeastern Ohio, within Columbiana County. Known for its rich history and small-town atmosphere, Salem was founded in 1806 and has a diverse array of historical sites and community events that reflect its heritage. The city features a vibrant downtown area with unique shops, restaurants, and public parks. Salem is also home to several historical landmarks, including the Salem Historical Society and the Historic Salem Public Library. The city is surrounded by beautiful natural landscapes, making it a great spot for outdoor enthusiasts. Parks such as Waterworth Memorial Park offer walking trails, sports facilities, and serene picnic spots. The community is tight-knit, with events like the annual Salem Super Cruise and local farmers' markets that foster a sense of togetherness. Salem's quality schools and family-friendly environment make it an attractive place for residents of all ages. With its blend of history, community spirit, and natural beauty, Salem offers a unique and welcoming experience in Ohio.

πŸ” Search & Compare Places

First Location πŸ“