Total monthly cost of ownership
Cost to Own a Home in Salem, Arkansas
A $192,000 home here costs
$1,575per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $987. The real number is $588 higher every month — 60% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Salem against Saline County and Arkansas
| Measure | Salem | Saline County |
|---|---|---|
| Median home value | $192,000 | $211,700 |
| Median property tax | $1,049 | $1,335 |
| Effective tax rate | 0.546% | 0.631% |
| Median gross rent | — | $980 |
| Population | 2,727 | 125,724 |
The weather behind that power bill
Salem sits in Saline County, which averages a high of 92.9°F in its hottest month and a low of 30.6°F in its coldest, with 53.41" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 2,150 cooling and 2,994 heating degree days, which is what sets the $129 electricity line above.
See the full climate breakdown for Saline County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Saline County
Full Saline County cost breakdown · Every county in Arkansas
Common questions
How much does it cost to own a home in Salem?
A $192,000 home in Salem, Arkansas costs approximately $1,575 per month with 20% down at 6.66%. That is $987 principal and interest, $87 property tax, $143 homeowners insurance, $197 utilities and $160 set aside for maintenance.
What is the property tax rate in Salem?
Salem has an effective property tax rate of 0.546%, based on a median home value of $192,000 and median real estate taxes of $1,049. That is lower than the Saline County average of 0.631%.
What is the average home price in Salem?
The median owner-occupied home value in Salem, Arkansas is $192,000, against $211,700 across Saline County.
Is it cheaper to rent or buy in Salem?
Rent data is not published for Salem at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Salem — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Arkansas.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.