Quick facts: Salem, MO

Quick Facts

94.1
Cost of Living
below US average
4,655
Population
24.27
Crime Rate per 1000
above US average
$35,413
Median Income
below US average
$199,000
Median House Price
above US average
$550.0
Average Rent
below US average
12%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $35,413.

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Income Needed to Buy

βœ— Stretch
$62k/year
Based on $199,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $62k vs median $35,413
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Income Needed to Rent

βœ“ Affordable
$24k/year
Based on $550.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($35,413) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Salem, MO

Salem, Missouri, is a small city located in Dent County in the south-central part of the state. Nestled in the scenic Ozark region, Salem serves as a gateway to a variety of outdoor recreational opportunities, including hiking, fishing, and camping. The city is known for its charming downtown area, which features local shops, restaurants, and historical sites, reflecting its rich heritage. Salem is home to the Mark Twain National Forest, offering residents and visitors alike the chance to explore lush forests, rolling hills, and picturesque waterways. The nearby Current River is a popular spot for canoeing and kayaking, while the Ozark National Scenic Riverways provides stunning views and additional outdoor activities. Culturally, Salem boasts local events and festivals that bring the community together, celebrating its history and local talents. Educationally, the city is served by the Salem R-80 School District, focusing on providing quality education to its students. With its friendly atmosphere and access to nature, Salem is a quaint and welcoming place for both residents and visitors.

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