Cost of Living in Salem, MA
Population: 44,241 • 2026 Data
$85,137
Median Household Income
+10% vs national
$1,800
Median Monthly Rent
+34% vs national
$497,400
Median Home Value
+47% vs national
5.2%
Unemployment Rate
Housing in Salem
The median home value in Salem, MA is $497,400. Monthly rent for a typical unit averages $1,800, while total monthly housing costs (including utilities and insurance) average $1,949.
Rent-to-income ratio: 25.4%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Salem, MA is $85,137. The unemployment rate stands at 5.2%, with a labor force of 27,245 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.