Salem, IA
Population 363 · Iowa
About Salem, IA
Salem is a small community located in Iowa with a population of 363 residents according to the latest US Census Bureau American Community Survey data. The median household income is $59,583 per year, which is 21% below the national median of $75,149. The median age of 48.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Salem features a median home value of $75,000, which is 69% below the national median of $244,900. This makes Salem one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $850, 27% below the national average of $1,163/month. Of the 155 total housing units, 83% are owner-occupied (124 units) and 17% are renter-occupied (25 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Salem shows an unemployment rate of 1.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 10.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Salem have an average one-way commute time of 25.8 minutes.
Education & Demographics
5.2% of Salem residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 8.0% Hispanic or Latino, 0.0% Black or African American, and 5.0% Asian residents, with 1.7% of the population being foreign-born.
Cost of Living in Salem, IA
Compared to national averages, Salem has a median household income of $59,583 (21% below the national median of $75,149). Home values average $75,000, which is 69% below the national median. Monthly rent at $850 is 27% below the US average of $1,163. Within Iowa, Salem's income is 12% below the state average of $67,947, and home values are 43% below the state median of $132,237.
Why Live in Salem, IA?
Salem offers affordable housing with a median home value of $75,000, below the US average of $244,900, and rent that’s lower than the national average at $850/month, and a strong job market with an unemployment rate of just 1.7%. Additionally, the city features a low poverty rate of 10.2%, better than the national average.
Potential considerations include median household income ($59,583) that falls below the national average. However, Salem’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Salem has a population of 363 with a median age of 48.2 years. Compare Salem with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Salem
Cities in Iowa with a similar population size.
Demographics
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Economy & Education
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Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Salem
What is the population of Salem, IA?
The population of Salem, IA is 363 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Iowa.
What is the median household income in Salem?
The median household income in Salem, IA is $59,583 per year, which is 21% below the national median of $75,149.
What is the median home value in Salem?
The median home value in Salem, IA is $75,000, which is 69% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Salem?
The median monthly rent in Salem, IA is $850, which is 27% below the national average of $1,163/month.
What is the unemployment rate in Salem?
The unemployment rate in Salem, IA is 1.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Salem, IA a good place to live?
Salem offers a moderate cost of living, affordable housing, and a strong job market. With a population of 363 and a median age of 48.2, the city appeals to established professionals and retirees.
How educated is Salem, IA?
5.2% of residents in Salem aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Salem?
Key cost-of-living indicators for Salem, IA: median home value is $75,000 (69% below national), median rent is $850/month, and median household income is $59,583. The home-value-to-income ratio is 1.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Salem?
The poverty rate in Salem, IA is 10.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Salem, IA?
Salem's population is 0.0% White, 8.0% Hispanic or Latino, 0.0% Black or African American, 5.0% Asian, and 0.6% two or more races. 1.7% of residents are foreign-born.