Similar to the surrounding areas, it's somewhat less expensive compared to the entire country. It's somewhat less expensive compared to the city of Chicago.
Home prices
The median home in Salem Lakes costs $202,100. This is is very similar in comparison to nearby areas.In comparison to the nation as a whole it is roughly $15,400 (7%) lower, and in comparison to the city of Chicago it is roughly $55,900 (21%) lower.
Rents
Salem Lakes's median rent is $1,005 a month. Compared to its surrounding areas it is approximately $87 (7%) lower.It is about $57 (5%) lower compared to the nation as a whole, and it is approximately $107 (9%) lower compared to the city of Chicago.
Nearby places
Paddock Lake
Paddock Lake is Salem Lakes's neighbor to the northeast. The real estate prices there are somewhat less expensive. The median home value in Paddock Lake is $164,600, which is $37,500 (22%) lower than Salem Lakes. The rent there is a bit more expensive. In Paddock Lake the median monthly rent is $1,080, which works out to $75 (6%) higher than Salem Lakes.
Lake Catherine
Lake Catherine is Salem Lakes's neighbor to the south. Real estate prices there are a little less expensive. Lake Catherine's median home value is $188,100, which is $14,000 (7%) lower than Salem Lakes. Rent there is a bit more expensive. The median rent in Lake Catherine is $1,285 a month, which comes out to $280 (21%) higher than Salem Lakes.
Channel Lake
Channel Lake is Salem Lakes's neighbor to the south. The real estate prices there are a little less expensive. The value of the median home in Channel Lake is $173,900, which is $28,200 (16%) lower than Salem Lakes. Rent there is somewhat more expensive. In Channel Lake the median monthly rent is $1,106, which is $101 (9%) higher than Salem Lakes.
Antioch
Antioch is Salem Lakes's neighbor to the southeast. Its real estate prices are a bit more expensive. The median home in Antioch costs $221,100, which comes out to $19,000 (8%) higher than Salem Lakes. The rent there is pretty similar. Antioch's median rent is $1,003 per month, which is very similar to Salem Lakes.
Bristol
Bristol is Salem Lakes's neighbor to the east. The real estate prices there are somewhat more expensive. Bristol's median home value is $266,500, which is $64,400 (24%) higher than Salem Lakes. Rents there are similar. Bristol's median monthly rent is $987, which works out to $18 (1%) lower than Salem Lakes.
