Total monthly cost of ownership
Cost to Own a Home in Salem, West Virginia
A $77,000 home here costs
$758per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $396. The real number is $362 higher every month — 92% 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 Harrison County and West Virginia
| Measure | Salem | Harrison County |
|---|---|---|
| Median home value | $77,200 | $158,500 |
| Median property tax | $464 | $872 |
| Effective tax rate | 0.601% | 0.550% |
| Median gross rent | $570 | $848 |
| Population | 1,812 | 65,407 |
The weather behind that power bill
Salem sits in Harrison County, which averages a high of 85.1°F in its hottest month and a low of 21.7°F in its coldest, with 48.24" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 892 cooling and 5,291 heating degree days, which is what sets the $151 electricity line above.
See the full climate breakdown for Harrison County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Harrison County
Full Harrison County cost breakdown · Every county in West Virginia
Common questions
How much does it cost to own a home in Salem?
A $77,000 home in Salem, West Virginia costs approximately $758 per month with 20% down at 6.66%. That is $396 principal and interest, $39 property tax, $41 homeowners insurance, $219 utilities and $64 set aside for maintenance.
What is the property tax rate in Salem?
Salem has an effective property tax rate of 0.601%, based on a median home value of $77,200 and median real estate taxes of $464. That is higher than the Harrison County average of 0.550%.
What is the average home price in Salem?
The median owner-occupied home value in Salem, West Virginia is $77,200, against $158,500 across Harrison County.
Is it cheaper to rent or buy in Salem?
Median gross rent in Salem is $570 a month, against $758 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
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 West Virginia.
- 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.