Elwood, IN vs Salem, IL: Cost of Living

Which city costs less?

Salem, IL has a modeled overall cost index 3.1% higher than Elwood, IN.

Elwood, IN · modeled 2BR rent
$1,100 / month
Salem, IL · modeled 2BR rent
$940 / month

These are saved estimates, not current rental listings. Some cities use adjusted regional data. Your household budget can differ from the overall index. Sources and assumptions

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Cost of Living Comparison 2026

Compare Elwood, IN and Salem, IL using saved regional data and explicit budgeting assumptions. Rent estimates are not live listings. Change the salary below, then check the source notes before applying a result to your household.

Saved regional estimates · Sources and assumptions

$
Numbers update automatically as you type

Estimated extra cost: $174/month in Salem, IL

$150,000 in your current city has a modeled equivalent of $152,087 in Salem, IL

Regional cost estimates: Elwood, IN uses Indianapolis, IN. Salem, IL uses St. Louis, MO. Available city ZIP rent estimates are shown separately.
Overall Cost
↑ 3.1%
More expensive
Monthly Impact
$174
Extra cost
Annual Impact
$2.1K
Per year

Assumes 60% of current gross income goes to living costs. The headline uses the category budget below; taxes, moving costs and savings goals are excluded.

Elwood, IN

Population:8K
Cost Index:
79.6
100 = national average
Typical Home:$141K

Salem, IL

Population:7K
Cost Index:
82.1
100 = national average
Typical Home:$137K

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Elwood, IN

The Hoosier State

8K
Population
State Tax
Yes

Located in Indiana, this city has a population of 8K residents.

Salem, IL

The Prairie State

7K
Population
State Tax
Yes

Located in Illinois, this city has a population of 7K residents.

Cost Breakdown by Category

Estimated monthly spending: Elwood, IN vs Salem, IL

Assumes 60% of your current gross income is spent on these categories. The headline and totals use this same budget. Rent estimates below are separate reference data. Rounded amounts may differ by $1.

Other
↑ 4.2%
Elwood, IN
$1,799
Salem, IL
$1,875
Difference
$75.46
more
Transportation
↑ 5.5%
Elwood, IN
$1,345
Salem, IL
$1,418
Difference
$73.67
more
Healthcare
↓ 8.2%
Elwood, IN
$689
Salem, IL
$633
Difference
$56.35
less
Groceries
↑ 4.9%
Elwood, IN
$1,087
Salem, IL
$1,140
Difference
$52.78
more
All Utilities
↑ 8.2%
Elwood, IN
$595
Salem, IL
$643
Difference
$48.55
more
Housing
↓ 1.0%
Elwood, IN
$1,985
Salem, IL
$1,965
Difference
$20.17
less

🏠Rent Comparison

Studio
From$810
To$680
↓ $130
1 Bed
From$940
To$790
↓ $150
2 Bed
From$1,100
To$940
↓ $160
3 Bed
From$1,440
To$1,220
↓ $220
Elwood, INZIP-level data

1BR range: $940–$940/mo

Salem, ILZIP-level data

1BR range: $790–$790/mo

💡 Note: HUD Fair Market Rents estimate 40th-percentile gross rents, including most tenant-paid utilities. City ZIP summaries are medians of those estimates, not market median rents. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,500
Monthly in Elwood, IN
$7,674
Monthly in Salem, IL
$174
Difference

Home Values

Elwood
Salem
$141K
Median Value
$137K
↓ -0.8%
YoY Change
↑ +6.5%
↑ +40.9%
5-Year Change
↑ +38.4%

Homes in Salem are 2% less expensive than Elwood

Calculate payment - ElwoodCalculate payment - Salem

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings
↓ $2.6K
More taxes
Monthly Difference
$215
Less take-home
Effective Rate Diff
1.7%
Rate difference

Elwood, IN

Federal Income Tax
Effective: 18.9%
$25.5K
Indiana State Tax
Effective: 3.2%
$4.8K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 27.9%
$41.9K
Take-Home Pay
$9,012/month
$108.1K

Salem, IL

Federal Income Tax
Effective: 18.9%
$25.5K
Illinois State Tax
Effective: 5.0%
$7.4K
FICA Taxes
Social Security + Medicare
$11.5K
Total Taxes
Effective: 29.6%
$44.4K
Take-Home Pay
$8,797/month
$105.6K

Additional Tax Information

Elwood, IN Tax Rates

Sales Tax:7.0%
Property Tax:0.9%

Salem, IL Tax Rates

Sales Tax:8.8%
Property Tax:2.2%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.

Environment

Elwood
Salem
54 Moderate
Air Quality
54 Moderate
36.6%
Good Air Days
38%
97 High
Climate Risk
99 High
🌊🌡🌪
Top Hazards
🌊🌡🫨
▲+3.1°F
2050 Outlook
▲+3.0°F
18 days
Heat Days >95°F
39 days
▲+3.1°F
2050 Outlook
▲+3.0°F
18 days
Heat Days >95°F
39 days

Before moving from Elwood, IN to Salem, IL

Use this comparison to shortlist a move, then check the costs that depend on your household.

  1. Compare actual homes. Get current quotes in Salem, IL for the same bedroom count and included utilities as your home in Elwood, IN. Add parking, deposits, insurance and any overlapping leases. The rent estimates above are a starting point, not available listings.
  2. Confirm your income. Check your expected pay with your employer, including any location adjustment. Use “Different salary at destination?” above to compare two incomes. The budget model excludes taxes and one-time moving costs; it is not a take-home-pay calculation.
  3. Price your daily routine. Check the commute from a specific address to work, school or childcare. Add household expenses missing from this model, such as childcare, debt payments and medical needs. Verify local services before signing a lease.
  4. Plan the transition. Get moving quotes and budget for travel, setup costs and time off. Open your Elwood to Salem moving checklist to organize the tasks and timing.

Still choosing a destination? Explore cities similar to Salem, IL by cost, housing, population and region.

Frequently Asked Questions: Elwood, IN vs Salem, IL

How do the cost estimates for Elwood, IN and Salem, IL compare?

Salem, IL has a modeled overall cost index 3.1% higher than Elwood, IN. This is a broad model comparison, not a survey of today's prices or a forecast of your household spending. Some cities use adjusted regional fallback data.

What does the equivalent salary mean?

At a $150,000 salary in Elwood, IN, the model estimates $152,087 in Salem, IL. It allocates 60% of gross income to the origin city’s category budget and applies each destination category’s relative cost. The equivalent salary adds the total category difference to your income. The monthly difference is the same category difference divided by 12; it is not take-home pay or guaranteed savings. Household size, childcare and your actual lease are not inputs to this calculation.

What rent estimates are available for Elwood, IN and Salem, IL?

The modeled two-bedroom rents are $1,100/month in Elwood, IN and $940/month in Salem, IL. Where available, the source is a city median of HUD FY2026 ZIP-level estimates; otherwise a saved metro table is used. City adjustments may also apply. These are not asking rents or available listings. Compare actual properties with the same bedroom count and included utilities.

How should I use this comparison before moving?

Use it to shortlist locations, then replace modeled costs with a current housing quote, employer-confirmed income, commute costs, insurance and your household's other expenses. Add one-time moving costs separately. Source years differ and the saved datasets are not a live price feed. Read the methodology for the formulas and fallback rules.

💰 See how taxes change too — compare take-home pay between Indiana and Illinois on TaxTakeHome.com

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