Salem: Economy & Jobs
Earnings in Salem center on a median $66,725 (about the same as Salem city median $66,725; 1.4× below Virginia median $93,170), with homes at a median value of $258,600. The surrounding county supports 20,481 jobs (avg $63,388).
- $75,299 avg taxable income per return — similar than the median household income (vs Virginia $92,983).
Income & Affordability
Median household income $66,725 — below the Virginia median ($92,968). Poverty rate 10.2% (U.S. average ~12.5%). 37% of renters spend more than half their income on rent ("severely cost-burdened" by HUD definition; U.S. ~24%).
| Affordability · Home Price To Income | 3.9× |
|---|---|
| Affordability · Home Affordability | moderate |
| Affordability · Rent Pct Income | 18.8% |
| Affordability · Rent Affordability | affordable |
| Affordability · Pct Severely Rent Burdened | 36.8% |
| Affordability · Poverty Rate | 10.2% |
| Affordability · Property Tax Pct Income | 3.5% |
| Irs Income · IRS tax returns filed | $11,970 |
| Irs Income · Total Adjusted Gross Income (thousands) | $901,326 |
| Irs Income · Average AGI per return | $75,299 (vs Virginia $92,983) |
| Irs Income · Year | 2022 |
| Income Estimate | $76,024 |
| Median Household Income | $66,725 (vs Virginia $92,968) |
| Poverty Rate | 10.2% |
Sources: IRS SOI 2022 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Economic Character
Qualitative classification derived from Census occupation, industry, and income data — workforce composition (white-collar/blue-collar), top employing sector, and income tier.
| Economic Character · Workforce | mixed |
|---|---|
| Economic Character · Top Industry | Education Healthcare |
| Economic Character · Income Level | middle-class |
| Economic Character · Median Income | $66,725 |
Employment & Workforce
Employment + workforce stats. The county-level employment count covers all jobs within the county, not just town residents. Unemployment rate 2.1% — below the U.S. average of ~4%. 11% work from home (U.S. average ~15%).
| Commuter Profile · Mean Commute Min | 19.00 |
|---|---|
| Commuter Profile · Work From Home Pct | 10.8% |
| Commuter Profile · Profile | short commute |
| Employment · Avg annual employment (county) | 20,481 |
| Employment · Total annual wages (county) | $1,298,232,666 |
| Employment · Average annual pay | $63,388 |
| Employment · Year | 2024 |
| State Occupation Wages · Year | 2023 |
| State Occupation Wages · All Occupations · Soc Code | 00-0000 |
| State Occupation Wages · All Occupations · Title | All Occupations |
| State Occupation Wages · All Occupations · Employment | 3,981,130 |
| Unemployment Rate | 2.1% (vs Virginia 2.9%) |
Sources: BLS QCEW 2023 · BLS Occupational Employment and Wage Statistics (OES) · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Industry Sectors
Major industries by establishment count from Census County Business Patterns (2022). Sectors are NAICS-coded; counts are county-wide employer establishments.
| Business Patterns · Establishments (employer count) | 995 |
|---|---|
| Business Patterns · Total Employees | 18,565 |
| Business Patterns · Annual Payroll Thousands | 1,064,255 |
| Business Patterns · Year | 2022 |
Sources: Census CBP API — county FIPS match
Local Business Mix
Retail and service businesses by category (Census CBP NAICS-coded). Counts cover the surrounding county, not just the town. Reflects the everyday commercial mix residents can access.
| Local Businesses · Grocery Stores | 4 |
|---|---|
| Local Businesses · Convenience Stores | 11 |
| Local Businesses · Gas Stations | 10 |
| Local Businesses · General Merchandise | 5 |
| Local Businesses · New Car Dealers | 3 |
| Local Businesses · Used Car Dealers | 7 |
| Local Businesses · Beauty Salons | 17 |
| Local Businesses · Pet Grooming | 4 |
Sources: Census CBP — NAICS detail codes
Dining Scene
Eating + drinking establishments by NAICS category (Census CBP 2022) — full-service restaurants, fast-food, bars, coffee shops. County-level counts.
| Dining Scene · Full Service Restaurants | 24 |
|---|---|
| Dining Scene · Fast Food | 36 |
| Dining Scene · Coffee Snacks | 7 |
Sources: Census CBP NAICS 722
Banking
FDIC-insured bank branches with addresses. Branch density correlates with population — fewer branches per resident in lower-density areas.
Branches (10)
SNAP & Food Access
USDA-authorized SNAP retailers — supermarkets, super stores, convenience stores, and other locations where SNAP benefits can be redeemed. Per-1K density tracks food access.
Sample (5)
| Nearest Snap · Name | Food Lion 365 |
|---|---|
| Nearest Snap · Total In Area | 29 |
Chamber of Commerce
IRS-registered chamber of commerce organizations matched to this town. Reflects the IRS Exempt Organizations BMF; some chambers operate informally and may not appear here.
| Chamber Of Commerce · Name | SALEM-ROANOKE COUNTY CHAMBER OF COMMERCE |
|---|
Sources: IRS EO BMF · Refreshed 2026-04-12
Spending & Tax
Federal spending flowing to the surrounding county — direct payments, grants, contracts, loans (USAspending.gov).
| Federal Spending · Federal Spending Fy2024 | $225,725,225 |
|---|---|
| Federal Spending · Per Capita | 8,905.75 (vs Virginia $14,580) |
| Federal Spending · Population | 25,346 people (vs Virginia 42,214) |
Sources: USAspending API
Other
| Pct Drove Alone | 76.7% |
|---|---|
| Pct Public Transit | 5.1% |
| Pct Walked | 10.8% |
| Retirement Score · Median age | 40.0 years (vs Virginia 37.8y) |
| Retirement Score · Ss Household Pct | 34.4% |
| Retirement Score · Hospitals Nearby | 2 |
| Retirement Score · Va Access | Yes |
| Retirement Score · Factors | strong SS base, hospital access, VA nearby |
| Retirement Score · Rating | good |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12