Cost of Living in Silverton, OR

With a cost of living index of 119, Silverton, OR is a notably expensive place to live. Living here is 19% more expensive than the national average and 12% above the Oregon state average of 106. Silverton is a smaller community of 10,445 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Silverton's cost of living. The median monthly rent is $1,479 (12% above the US median of $1,319), and the median home value sits at $461,800 (51% above the national median of $304,900). At current prices, the median home costs roughly 6.2x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Silverton is $74,286, which is 1% lower than the national median of $75,149. Residents spend roughly 24% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Silverton. The area sees an average annual temperature of 54.1°F, with summers averaging 67°F and winters around 42°F. Annual rainfall totals 40.1 inches spread over roughly 148 days.

Everyday prices in the Salem, OR (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.