Cost of Living in Salem, MA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
158.7
100 = national avg
+58.7 vs national average
Living Wage (1 Adult)
$69,838
per year
Living Wage (Family of 4)
$165,071
per year
Cost Index by Category
Housing227.7
Food115.1
Transportation117.2
Healthcare112.1
Utilities134.6
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$2,476
per month
2 Bedroom
$2,941
per month
The overall cost of living index in Salem is 158.7, which is 58.7% above the national average. Housing costs are above the national average at an index of 227.7. A single adult needs to earn approximately $69,838 per year to cover basic expenses.