Salem County · Virginia · South · 26k residents
Salem, VA: economy, jobs & business costs
The site-selection read on Salem: labor costs, talent, corporate tax, energy, and business activity, with the Virginia median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,540/wk. Virginia's corporate income tax rate is 6%. Commercial electricity averages 8.7¢/kWh.
Compare Salem side by side
Avg. weekly wage
$1,540/wk
Corporate income tax
6%
Bachelor's degree or higher
33%
Commercial electricity
8.7¢/kWh
Economic momentum
We don't yet track economic momentum for Salem. It will rank business formation, jobs, and building-permit growth against the US cities we track.
| ACS median home value | $258,600 |
| Price per sq. ft. | $220 |
| Property tax rate | 0.87% |
| 1-bedroom rent | $918/mo |
| 2-bedroom rent | $1,110/mo |
| State & local income tax | 4.36% |
| Sales tax | 5.75% |
| Corporate income tax | 6% |
| Avg. weekly wage | $1,540/wk |
| Bachelor's degree or higher | 33% |
| Commercial electricity | 8.7¢/kWh |
| Businesses per 1k residents | — |
| Wage: Software developer | $121,110 |
| Wage: Registered nurse | $80,090 |
| Wage: General manager | $98,140 |
| Wage: Customer service | $45,500 |
| Wage: Warehouse worker | $34,890 |
| Wage: Heavy truck driver | $56,430 |
| Wage: Electrician | $58,200 |
| Wage: Retail salesperson | $30,440 |
| Cost of living index | 90 |
| Groceries index | 100 |
| Utilities | $175/mo |
| Transit pass | $70/mo |
| Gas price | $3.15/gal |
| Healthcare index | 98 |
| Childcare (per child) | $1,250/mo |
| Median household income | $66,725 |
| Unemployment rate | 2.9% |
| Population | 26k |
| Crime index | 32/100 |
| School rating | 6.8/10 |
| Walkability | 30/100 |
| Disaster risk | — |
| Avg. commute | 28 min |
| Sunny days / year | 210 days |
| July high | 88°F |
| January low | 29°F |
| Annual snowfall | 15 in |
| Home price YoY | +4.2% |
| Home price MoM | +0.1% |
| Rent YoY | +2.6% |
| Rent MoM | -0.3% |
| Employment (jobs) YoY | — |
| Building permits YoY | — |
| Ocean coast | 227 mi |
| Big lake | 29 mi |
| Mountains | 92 mi |
| Major airport | 82 mi |
| Ski resort | 78 mi |
Popular comparisons
Nearby
- Roanoke, VA · 98k
- Cave Spring, VA · 26k
- Hollins, VA · 17k
- Blacksburg, VA · 45k
- Christiansburg, VA · 23k
Similar size
- Staunton, VA · 26k
- Cherry Hill, VA · 26k
- Fairfax, VA · 25k
- Herndon, VA · 25k
- Brambleton, VA · 25k
Real listings in Salem
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Salem a good place to run a business?
- Virginia's corporate income tax rate is 6%; average weekly wages in the surrounding labor market run $1,540/wk; commercial electricity averages 8.7¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Salem, VA?
- Salem indexes at 90 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,110/mo and a acs median home value of $258,600.
- How much does a house cost in Salem?
- The acs median home value in Salem is $258,600 (Census ACS estimate; individual listings vary).
- How much is rent in Salem?
- A two-bedroom in Salem rents for about $1,110/mo.