Cost of Living in Salem, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
85.8
100 = national avg
-14.2 vs national average
Living Wage (1 Adult)
$37,740
per year
Living Wage (Family of 4)
$89,203
per year
Cost Index by Category
Housing72.3
Food95.5
Transportation91.1
Healthcare96.4
Utilities91.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$716
per month
2 Bedroom
$939
per month
The overall cost of living index in Salem is 85.8, which is 14.2% below the national average. Housing costs are below the national average at an index of 72.3. A single adult needs to earn approximately $37,740 per year to cover basic expenses.