States › Massachusetts › Salem

Is Salem, MA expensive to live in?

ExpensiveRent takes 32 cents of every $1 people earn here.
🏠 Rent per month (2026)$2,45940% higher than U.S. average
💵 Families earn per year (2026)$91,838about $7,653/month · 5% higher than U.S. average
🔑 House price$542,80063% higher than U.S. average

Rent is higher than in 84% of U.S. cities. A typical house costs about 5.9 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $98,360 a year. That is $47 an hour at a full-time job.

Is rent cheaper than other Massachusetts cities?

No. Rent here is more expensive than in most of Massachusetts. It is number 71 of 123 cities from cheapest to most expensive.

Salem
$2,459
Leominster
$1,989
Pittsfield
$1,591
Arlington
$2,797
Attleboro
$1,898
Beverly
$2,657
Woburn
$2,713

How much do households earn in Salem?

Under $25k
15.6%
$25k–50k
15.8%
$50k–100k
31.0%
$100k–150k
20.1%
$150k+
13.2%

Share of households by yearly income. 33.4% of households earn $100,000 or more.

Rent by apartment size in Salem

SizeSalemU.S. average
Studio$1,528$1,338
1 bedroom$1,866$1,324
2 bedrooms$2,078$1,509
3 bedrooms$2,458$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Salem overall?

Everyday prices in Massachusetts overall are 6% above the U.S. average (index 105.8, U.S. = 100).

Housing
128
Goods (food, clothes…)
99
Utilities
152
Other services
103
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Salem, so the Massachusetts figure is shown.

Taxes and bills in Salem

🏛️ Property tax$6,114a year · 1.13% of home value · U.S. $3,119
⚡ Electric bill$133a month (typical) · U.S. $156

Life in Salem

Commute to work28.5 minU.S.: 26.4 min
College degree47.8%U.S.: 35.7%
Own their home49.7%U.S.: 65.2%
Below poverty line12.1%U.S.: 12.5%
Unemployment5.1%U.S.: 5.2%

Is it cheaper to rent or buy in Salem?

Renting is cheaper right now: about $1,307 a month less.

Renting
$2,459
Owning
$3,766

Owning assumes a typical $542,800 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $54,280 for the down payment.

Frequently asked questions

What is the average rent in Salem, MA?

Renting in Salem costs a median of about $2,459 a month in 2026, including utilities. The Massachusetts median is $2,331.

How much do I need to make to live in Salem?

To keep rent under 30% of income, you need about $98,360 a year, or $47 an hour at a full-time job.

Is Salem cheap or expensive?

Salem is rated Expensive: rent takes 32.1% of the typical household income of $91,838. It ranks 71st cheapest of 123 Massachusetts cities we track.

How much are property taxes in Salem?

The median homeowner in Salem pays $6,114 a year in property taxes, about 1.13% of the median home value.

Is Salem more expensive than the national average?

Overall prices in Massachusetts are 6% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Salem?

The median home value in Salem is $542,800, about 5.9 times the typical yearly household income.

44,795 people live in Salem. Numbers are typical (middle) values.