Cost of Living in Salem, KY
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
83.0
100 = national avg
-17.0 vs national average
Living Wage (1 Adult)
$36,503
per year
Living Wage (Family of 4)
$86,279
per year
Cost Index by Category
Housing61.6
Food96.8
Transportation93.6
Healthcare97.5
Utilities90.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$960
per month
2 Bedroom
$1,158
per month
The overall cost of living index in Salem is 83.0, which is 17.0% below the national average. Housing costs are below the national average at an index of 61.6. A single adult needs to earn approximately $36,503 per year to cover basic expenses.