Cost of living in Salem: rent, home prices and salary needed
Living in Salem costs 3.6% more than the US average. For the Salem, OR metro area, BEA's 2024 regional price parity (RPP) puts the cost of living in Salem at 103.6, with the US at 100, and housing alone at 110.3.
- Level of prices
- 103.6US = 100, BEA 2024
- Price level for housing
- 110.3 for rents, US = 100.
Cost of living index for Salem
Regional price parities put the price of the same goods and services in one place against the US average, which is set at 100. The Salem, OR metro area includes Salem, and BEA sets one price level for the entire region. Housing (rents) is the part furthest from the US average, at 110.3, or 10.3% above the US.
| Price level, US = 100 | Salem, OR metro | Oregon | Metro against the US |
|---|---|---|---|
| All items | 103.6 | 103.4 | +3.6% |
| Goods | 105.3 | 105.3 | +5.3% |
| Housing (rents) | 110.3 | 108.6 | +10.3% |
| Utilities | 104.7 | 107.0 | +4.7% |
| Other services | 100.3 | 100.3 | +0.3% |
U.S. Bureau of Economic Analysis (BEA), 2024 regional price parities, listed for metro areas and states. BEA regional price parities
What rent costs in Salem
According to the Zillow Observed Rent Index (ZORI), the asking rent in Salem typically comes to $1,611 a month. That index covers rent on homes listed now, and sits at 0% on a year. In the US, that figure is $1,932. Census median gross rent comes to $1,507, and it counts every renting household rather than only new leases. One year of the asking rent equals 24% of the median household income.
| Rent | Salem | United States |
|---|---|---|
| Typical asking rent, Zillow ZORI | $1,611 | $1,932 |
| Asking rent, 12-month change | 0% | |
| Median gross rent, Census ACS 2024 | $1,507 | $1,487 |
| Median income share, one year of asking rent | 24% | 28% |
One-year estimates from the Census Bureau American Community Survey 2024, plus the Zillow Observed Rent Index.
Salem home prices
Zillow Home Value Index (ZHVI) puts a typical Salem home at $432,418 in September 2026, pricing a home at the middle of the market. That figure is +0.3% on a year, compared with $366,157 for the US. Buying a home here takes 5.4 years of median household income, compared with 4.5 for the US.
| Home prices | Salem | United States |
|---|---|---|
| Typical home value, September 2026 | $432,418 | $366,157 |
| 12-month change | +0.3% | +1.2% |
| 10-year change | +90.1% | +77.4% |
| Price to income (years of median income) | 5.4 | 4.5 |
| Price to rent (years of asking rent) | 22.4 | 15.8 |
A price chart going back to 2000, plus a forecast: Salem housing market, which also tracks days on market.
The salary you need to live in Salem
What you earn and where you live are the two answers behind a Salem salary that buys what your pay buys now.
- Moving from
- Salary
Side by side, every city, and the method: cost of living comparison by city.
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Cost of living in Salem vs other cities
| City | Level of prices | Housing | Rent, typical | Home value, typical |
|---|---|---|---|---|
| Salem | 103.6 | 110.3 | $1,611 | $432,418 |
| Portland, Oregon | 105.4 | 125.1 | $1,719 | $524,318 |
| Bend | 103.6 | 110.0 | $2,284 | $721,430 |
| New York City | 112.6 | 148.6 | $4,089 | $825,854 |
| Los Angeles | 113.6 | 170.4 | $2,772 | $927,891 |
| Chicago | 103.6 | 112.0 | $2,311 | $334,108 |
| Houston | 98.6 | 104.5 | $1,544 | $259,465 |
| Phoenix | 103.3 | 121.2 | $1,571 | $404,067 |
| Philadelphia | 102.6 | 113.1 | $1,757 | $231,584 |
Price levels from BEA regional price parities, 2024, with US = 100. Rent: Zillow ZORI figures. Home values: Zillow ZHVI, September 2026.
All cities ranked: cost of living comparison by city. How much things cost in each state: state-by-state list.