Salem, IN vs Spencer, IN

Salem is moderately more affordable than Spencer, with a 6.5% lower cost of living index. Salem scores 66 compared to 71 for Spencer, where the US average is 100. This difference means residents of Spencer can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Salem is $736/month compared to $860/month in Spencer — a 14% difference. Home values follow the same pattern: Salem is more affordable at $136,800 median vs $146,300.

Median household income in Salem is $51,786 compared to $47,994 in Spencer (+7.9%). Salem offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Salem spend roughly 17.1% of their income on rent, less than the 21.5% in Spencer.