Cost of Living in Salem, VA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
107.6
100 = national avg
+7.6 vs national average
Living Wage (1 Adult)
$47,345
per year
Living Wage (Family of 4)
$111,906
per year
Cost Index by Category
Housing118.2
Food101.0
Transportation102.0
Healthcare100.8
Utilities104.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,053
per month
2 Bedroom
$1,254
per month
The overall cost of living index in Salem is 107.6, which is 7.6% above the national average. Housing costs are above the national average at an index of 118.2. A single adult needs to earn approximately $47,345 per year to cover basic expenses.