| Index | Salem | Massachusetts | National |
| Cost of living | 135 | 131 | 100 |
| Groceries | 107 | 109 | 100 |
| Health care | 113 | 116 | 100 |
| Housing | 186 | 169 | 100 |
| Transportation | 116 | 115 | 100 |
| Utilities | 113 | 117 | 100 |
| Lifestyle & Entertainment | 117 | 115 | 100 |
| Household Items | 109 | 109 | 100 |
| Education & Childcare | 126 | 127 | 100 |
The cost of living in Salem affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Salem is 135, which is 35% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
If you're in pursuit of an economical living environment, Salem may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Salem falls within this bracket.
Housing costs are a major factor in the Salem cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 86.2% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Nobody knows their city better than the people who actually live there. So, we asked 9 local residents how they would rate the cost of living in Salem and this is how they responded. 22% of people said that the cost of living was affordable, with prices decreasing, while 78% of people said that the cost of living was very expensive and prices continue to rise.
Is Salem an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Salem, the median home price is 107.1% higher than what most folks pay across the country, and monthly rent prices are 37.4% higher than the usual rates. Income levels in Salem come in at $97,450, which is 19.8% higher than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Salem, healthcare costs are 13.3% higher than the national average.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Salem, the housing index comes in at 86.2% higher than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Salem, the groceries index is 6.7% higher than the national average.
The cost of living data for Salem shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $149,749 | $12,479 | $3,494 | $4,493 |
| Renters | $55,267 | $4,606 | $1,289 | $1,658 |
| State | General Sales Tax | With Max Surtax |
| Massachusetts | 6.25% | 6.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Massachusetts | 5% | 9% |
| City | Population | Cost of Living Index | National Avg. |
| Lawrence, MA | 82,025 | 125 | 25.4% |
| Lynn, MA | 97,235 | 134 | 34.4% |
| Chelsea, MA | 41,000 | 135 | 35.2% |
| Saugus, MA | 29,084 | 139 | 38.9% |
| Revere, MA | 54,523 | 139 | 39.0% |
| Salem, MA | 44,881 | 135 | 35.3% |
| City | Population | Cost of Living Index | National Avg. |
| Altoona, PA | 44,840 | 87 | 13.2% |
| Sierra Vista, AZ | 44,960 | 101 | 0.7% |
| Riverton, UT | 44,974 | 128 | 28.0% |
| Moorhead, MN | 44,762 | 101 | 1.5% |
| Urbandale, IA | 45,000 | 106 | 5.7% |
| Salem, MA | 44,881 | 135 | 35.3% |
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