Cost of Living in Salem, MO
Housing
The housing market plays a significant role in determining the cost of living in Salem, MO.
- Housing Index: 89.1 / 100
- Median Home Price is: $123,000
- Average Rent (2 BR Apartment): $1340 per month
- Average Rent (2 BR House): $1457 per month
Considering a move to Salem, MO? With a housing index of 89.1, it's a relatively affordable option for relocating. The median home price of 123000 presents an attractive opportunity for homebuyers, especially compared to the average rent of 1340 for a 2-bedroom apartment and 1457 for a 2-bedroom house. It's important to analyze your budget and long-term goals; buying might prove more cost-effective compared to renting in an area where home prices are relatively low. Overall, your investment in this housing market could yield positive returns.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Salem, MO.
- Electricity Price: $14.64 USD (median by state)
- Natural Gas Price: $23.25 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $234 per month
Living in Salem, MO could entail higher utility costs. Electricity costs sit at $14.64, while natural gas is priced at $23.25 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $234 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Salem is a financially viable option for your relocation.