Similar to nearby areas, it's a lot less expensive compared to the country as a whole. Compared to the city of Charlotte, it is substantially less expensive.
Home prices
The median home cost in Salem is $134,900. This is is very similar in comparison to nearby areas.It is approximately $82,600 (37%) lower compared to the nation as a whole, and in comparison to the city of Charlotte is roughly $85,400 (38%) lower.
Rents
In Salem the median rent is $622 per month. This is roughly $22 (3%) lower compared to nearby areas.It is about $440 (41%) lower compared to the country as a whole, and in comparison to the city of Charlotte is approximately $513 (45%) lower.
Nearby places
Morganton
Morganton is Salem's neighbor to the north. Real estate prices there are a bit more expensive. The median home in Morganton costs $160,100, which comes out to $25,200 (15%) higher than Salem. Rent there is a bit more expensive. The median monthly rent in Morganton is $685, which comes out to $63 (9%) higher than Salem.
Glen Alpine
Glen Alpine is about 4 miles northwest of Salem. Its housing prices are a bit less expensive. The value of the median home in Glen Alpine is $115,600, which works out to $19,300 (16%) lower than Salem. The rent there is a bit more expensive. In Glen Alpine the median rent is $700 per month, which comes out to $78 (11%) higher than Salem.
Drexel
Drexel is about 6 miles northeast of Salem. Housing prices there are a bit less expensive. The cost of the median home in Drexel is $115,000, which comes out to $19,900 (17%) lower than Salem. The rent there is somewhat more expensive. In Drexel the median rent is $677 a month, which comes out to $55 (8%) higher than Salem.
Valdese
Valdese is about 7 miles northeast from Salem. Real estate prices there are somewhat less expensive. The median home in Valdese is valued at $118,700, which is $16,200 (13%) lower than Salem. Rents there are a little less expensive. Valdese's median monthly rent is $552, which works out to $70 (12%) lower than Salem.
Rutherford College
Rutherford College is approximately 9 miles northeast from Salem. Its real estate prices are a little more expensive. The median home in Rutherford College is valued at $162,500, which works out to $27,600 (16%) higher than Salem. Its rents are fairly similar. In Rutherford College the median monthly rent is $608, which works out to $14 (2%) lower than Salem.
