Cost of Living in Salem, OR
Housing
The housing market plays a significant role in determining the cost of living in Salem, OR.
- Housing Index: 110.0 / 100
- Median Home Price is: $415000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
Considering a move to Salem, OR? The housing index stands at 110.0, indicating a moderately priced housing market compared to the national average. The median home price of 415000 reflects the investment potential, while the average rent for a 2-bedroom apartment is around 1800 and slightly higher for a house at 1840. Overall, the data suggests a balanced market for buyers and renters alike, making it essential to weigh your budget against the local amenities, schools, and lifestyle options available in Salem.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Salem, OR.
- Electricity Price: $15.12 USD (median by state)
- Natural Gas Price: $16.5 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Salem, OR could entail higher utility costs. Electricity costs sit at $15.12, while natural gas is priced at $16.5 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 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.