New Castle, IN vs Salem, IN

New Castle, IN and Salem, IN have a very similar cost of living, with only a 2.4% difference in their overall index. New Castle scores 65 while Salem scores 66 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in New Castle is $797/month compared to $736/month in Salem — a 8% difference. Interestingly, home values tell a different story: while Salem has cheaper rent, New Castle actually has lower median home values ($95,100 vs $136,800).

Median household income in New Castle is $48,977 compared to $51,786 in Salem (-5.4%). While Salem is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of New Castle spend roughly 19.5% of their income on rent, more than the 17.1% in Salem.