Cost of Living in Salem, Oregon
In Salem, the median household income is $75,487 and the median gross rent is $1,400/mo, with a median home value of $416,900. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $75,487
- Median gross rent
- $1,400/mo
- Median home value
- $416,900
- Population
- 178,865
How Salem compares to the Oregon average
| Measure | Salem, OR | Oregon statewide | Difference |
|---|---|---|---|
| Median household income | $75,487 | $83,011 | -9.1% |
| Median gross rent (monthly) | $1,400 | $1,525 | -8.2% |
| Median home value | $416,900 | $477,600 | -12.7% |
Statewide, Oregon prices average 103.4 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Salem
- Salary needed for median rent
- $56,000
- Rent burden at median income
- 22.3%
- Est. affordable home price
- $275,372
So that $1,400/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Salem is $416,900 — +51.4% above what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Oregon cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.