Salem, IN vs Waterloo, IN

Salem, IN and Waterloo, IN have a very similar cost of living, with only a 0.8% difference in their overall index. Salem scores 66 while Waterloo scores 67 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 Salem is $736/month compared to $829/month in Waterloo — a 11% difference. Interestingly, home values tell a different story: while Salem has cheaper rent, Waterloo actually has lower median home values ($108,600 vs $136,800).

Median household income in Salem is $51,786 compared to $61,375 in Waterloo (-15.6%). While Waterloo is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Salem spend roughly 17.1% of their income on rent, more than the 16.2% in Waterloo.