Home prices
The median home price in Salem is $367,200. It is approximately $92,540 (20%) lower in comparison to nearby areas.Compared to the rest of the nation it is roughly $149,700 (68%) higher, and is about $165,500 (31%) lower compared to the city of Boston.
Rents
In Salem the median monthly rent is $1,289. It is approximately $177 (12%) lower compared to the surrounding areas.It is approximately $227 (21%) higher in comparison to the United States as a whole, and compared to the city of Boston it is approximately $331 (20%) lower.
Nearby places
Marblehead
Marblehead is Salem's neighbor to the southeast. Its real estate prices are a lot more expensive. The median home in Marblehead is valued at $675,400, which is $308,200 (45%) higher than Salem. Its rents are a little more expensive. The median monthly rent in Marblehead is $1,578, which is $289 (18%) higher than Salem.
Swampscott
Swampscott is Salem's neighbor to the south. Real estate prices there are somewhat more expensive. The median home cost in Swampscott is $475,500, which works out to $108,300 (22%) higher than Salem. Rent there is significantly more expensive. The median monthly rent in Swampscott is $1,916, which comes out to $627 (32%) higher than Salem.
Peabody
Peabody is Salem's neighbor to the northwest. Real estate prices there are a little more expensive. The median home value in Peabody is $387,400, which comes out to $20,200 (5%) higher than Salem. Rent there is a bit more expensive. The median monthly rent in Peabody is $1,366, which works out to $77 (5%) higher than Salem.
Lynn
Lynn is Salem's neighbor to the southwest. Real estate prices there are a little less expensive. The median home in Lynn costs $323,100, which comes out to $44,100 (13%) lower than Salem. The rent there is a little less expensive. The median rent in Lynn is $1,189 a month, which works out to $100 (8%) lower than Salem.
Beverly
Beverly is Salem's neighbor to the northeast. Housing prices there are a bit more expensive. The cost of the median home in Beverly is $437,300, which is $70,100 (16%) higher than Salem. Its rents are similar. In Beverly the median monthly rent is $1,282, which is very similar to Salem.
