Salem, Virginia Income Statistics
Salem Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
Salem Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Salem | Virginia Avg | US Average |
|---|---|---|---|
| Median Household Income | $66,398 | $93,527 | $80,455 |
| Median Personal Income | $57,874 | $68,139 | $60,758 |
| Average Yearly Income Growth | 2.8% | 4.3% | 4.8% |
| Six-Figure Earners | 8.8% | 18.3% | 13.9% |
| $200k+ Households | 8.3% | 17.7% | 13.2% |
The median household income in Salem is about 29% lower than in Virginia. Income has been growing slower in Salem (2.8%/yr) than in Virginia (4.3%/yr).
About 9% of adults in Salem earn six figures ($100,000 or more) a year, lower than the Virginia average of 18%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Salem, Virginia grew by 37.6% from 2009 to 2024, reaching $66,398 in 2024. That's an average of about 2.8% per year.
Income Inequality and the Gender Pay Gap in Salem
| Metric | Salem | Virginia Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.537 | 0.544 | 0.552 |
| Male Median Income | $60,981 | $78,585 | $69,667 |
| Female Median Income | $55,524 | $62,626 | $56,850 |
| Gender Pay Gap | 8.9% | 20.3% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Salem, it is 0.537, lower than Virginia's 0.544, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 10% more than women's income in Salem, Virginia. Over a 35-year career, a 10% wage gap accumulates to roughly $190,995 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Salem, Virginia has narrowed from about 22% to 9% in 2024. Over that period the gap was widest at 28% in 2010, and was narrowest at 8% in 2023. In dollar terms, the gap has narrowed by $4,244 since 2009.
Employment
| Metric | Salem | Virginia Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 4.1% | 5.2% |
| Working from Home | 10.8% | 18.3% | 15.0% |
| Commute time (minutes) | 17 | 23 | 22 |
Approximately 459 people are unemployed in Salem, Virginia.
The average commute time in Salem is 17 minutes, shorter than the 23 minutes in Virginia.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Salem, Virginia has fallen from 6.9% to 3.6% in 2024. Over that period the rate peaked at 7.8% in 2012 and fell as low as 3.4% in 2023.
Salem, VA Wealth Compared With Nearby Cities
How Salem, VA compares with the 2 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Salem, VA | 25,618 | $66,398 #2/3 | 2.8%/yr #3/3 | 3.6% #2/3 | 0.537 #3/3 |
| Cave Spring, VA | 23,140 | $83,579 | 4.4%/yr | 2.9% | 0.511 |
| Roanoke, VA | 98,343 | $55,625 | 4.5%/yr | 5.6% | 0.528 |
Conclusion
Considering all these factors, Salem, Virginia has an overall wealth index grade of C, making it somewhat worse than Virginia, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Salem, Virginia.
How Rich Is Salem, Virginia?
Salem has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $66,398, about 29% lower than the Virginia average of $93,527.
How fast is household income rising in Salem, Virginia?
Between 2009 and 2024, the median household income in Salem, Virginia rose 38%, from $48,241 to $66,398. Over the same years, income here lagged behind Virginia as a whole: +38% against +55%.
What was the median household income in Salem in 2023?
In 2023, the median household income in Salem, Virginia was $66,241, down 4% from $68,796 in 2022. The Virginia median that year was $91,420.
What was the median household income in Salem in 2020?
In 2020, the median household income in Salem, Virginia was $63,889. By 2024 it had risen 4% to $66,398.
What is the Gini coefficient in Salem, Virginia?
The Gini coefficient in Salem is 0.537. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Salem, Virginia?
Since 2009, the income gap between men and women in Salem, Virginia has narrowed from about 22% to 9% in 2024. Over that period the gap was widest at 28% in 2010, and was narrowest at 8% in 2023. In dollar terms, the gap has narrowed by $4,244 since 2009.
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