Home prices
Salem's median home value is $116,000. Compared to nearby areas this is approximately $95,520 (45%) lower.It is roughly $101,500 (46%) lower compared to the nation as a whole, and in comparison to the city of Springfield it is roughly $40,200 (25%) lower.
Rents
Salem's median rent is $860 a month. This is roughly $134 (18%) higher compared to its surrounding areas.It is about $202 (19%) lower compared to the country as a whole, and compared to the city of Springfield it is approximately $17 (1%) lower.
Nearby places
Argyle
Argyle is about 8 miles northwest from Salem. The housing prices there are fairly similar. The median home cost in Argyle is $113,400, which works out to $2,600 (2%) lower than Salem. The rent there is a lot less expensive. In Argyle the median rent is $643 a month, which works out to $217 (33%) lower than Salem.
Greenwich
Greenwich is roughly 9 miles southwest of Salem. Its real estate prices are significantly more expensive. Greenwich's median home value is $171,400, which comes out to $55,400 (32%) higher than Salem. Rent there is similar. The median rent in Greenwich is $890 per month, which comes out to $30 (3%) higher than Salem.
Cambridge
Cambridge is roughly 9 miles south from Salem. The real estate prices there are somewhat more expensive. The median home in Cambridge is valued at $153,600, which is $37,600 (24%) higher than Salem. Its rents are a bit less expensive. Cambridge's median monthly rent is $779, which is $81 (10%) lower than Salem.
Arlington
Arlington is roughly 10 miles southeast of Salem. The real estate prices there are a lot more expensive. The median home value in Arlington is $202,500, which is $86,500 (42%) higher than Salem. Its rents are pretty similar. In Arlington the median rent is $885 a month, which is $25 (2%) higher than Salem.
Manchester
Manchester is about 10 miles east of Salem. Real estate prices there are significantly more expensive. The median home price in Manchester is $416,700, which is $300,700 (72%) higher than Salem. Rent there is substantially less expensive. The median monthly rent in Manchester is $434, which comes out to $426 (98%) lower than Salem.
