Much like the surrounding areas, it is a lot more expensive compared to the US as a whole. Compared to the city of Salt Lake City however, it is a little more expensive.
Home prices
The median home cost in Salem is $331,900. In comparison to nearby areas it is approximately $14,580 (4%) lower.In comparison to the US as a whole it is roughly $114,400 (52%) higher, and it is about $17,400 (5%) higher in comparison to the city of Salt Lake City.
Rents
Salem's median monthly rent is $1,250. Compared to its nearby areas it is about $21 (1%) lower.It is about $188 (17%) higher compared to the rest of the nation, and in comparison to the city of Salt Lake City it is roughly $265 (26%) higher.
Nearby places
Woodland Hills
Woodland Hills is Salem's neighbor to the south. Its real estate prices are a bit more expensive. The cost of the median home in Woodland Hills is $485,300, which is $153,400 (31%) higher than Salem. The rent there is a lot more expensive. The median rent in Woodland Hills is $1,875 a month, which works out to $625 (33%) higher than Salem.
Elk Ridge
Elk Ridge is Salem's neighbor to the south. The housing prices there are a little more expensive. The median home in Elk Ridge costs $356,300, which comes out to $24,400 (6%) higher than Salem. The rent there is a little more expensive. Elk Ridge's median rent is $1,536 per month, which works out to $286 (18%) higher than Salem.
Payson
Payson is Salem's neighbor to the west. The real estate prices there are significantly less expensive. The median home in Payson costs $231,000, which comes out to $100,900 (43%) lower than Salem. The rent there is a bit less expensive. The median monthly rent in Payson is $1,017, which comes out to $233 (22%) lower than Salem.
Spanish Fork
Spanish Fork is Salem's neighbor to the north. The real estate prices there are a bit less expensive. The median home value in Spanish Fork is $273,600, which works out to $58,300 (21%) lower than Salem. Rent there is a little less expensive. The median rent in Spanish Fork is $1,128 a month, which works out to $122 (10%) lower than Salem.
Benjamin
Benjamin is roughly 4 miles northwest from Salem. The real estate prices there are a bit more expensive. The median home in Benjamin is valued at $386,200, which is $54,300 (14%) higher than Salem. Rent there is significantly less expensive. In Benjamin the median rent is $798 a month, which is $452 (56%) lower than Salem.
