Personal loans in Salem, MA

What the Census records for Salem

Set out below is Salem's local context next to the state-level rules that reach every lender here.

• Population: about 44,744, ranked 27th of 54 places in Massachusetts (Census Vintage 2023 subcounty estimate).
• Population trend: Growth of about 0.6% across the 2020-to-2023 comparison.
• Absolute change: 261 residents added between 2020 and 2023.
• Size percentile: about 50% of Massachusetts communities are smaller than Salem (44,744 residents).
• Density: the Census land area of 8.3 sq mi holds about 5,395 people per square mile.
• By land area: Salem ranks 44th among Massachusetts's 54 places, at 8.3 sq mi.
• Water area: Salem has 10.01 square miles of water, ranking 5th of 54 places in Massachusetts.
• State share: roughly 1.2% of Massachusetts's residents live in Salem (44,744 people).
• National rank: Salem is the 891st most populous of the 19,457 Census places covered here.
• Growth rank: Salem ranks 11th among Massachusetts's 54 places for the 2020-to-2023 change.
• Against the state trend: Salem's 0.6% change compares with a Massachusetts average of -0.7% across its 54 places.
• Density rank: Salem is the 16th most densely settled place in Massachusetts.
• Density in context: Salem's 5,395 people per square mile sit against a Massachusetts median of 2,833.
• Location: 42.4992 / -70.8982, per the US Census Bureau Gazetteer.
• Nearest larger cities: Lynn (4 mi); Peabody (4 mi); Revere (7 mi); Malden (9 mi); Everett (10 mi). Larger metros often have more branches, but online lenders reach Salem on the same terms.
• Smaller towns nearby: Beverly (5 mi); Melrose (9 mi); Winthrop Town (9 mi).
• Smaller places within 50 miles: 19 of them.
• At 100 miles: 34 larger Census places fall inside that radius.

How Massachusetts law applies in Salem

These are Massachusetts's sourced lending facts as they reach Salem's 44,744 residents; the state has no city-level rate rule.

The Salem borrowing checklist

A sensible order of operations for a loan in Salem, home to about 44,744 people:

1. Get your credit reports, dispute what is wrong, and only then start shopping.
2. Test your amount and term in the personal loan calculator first.
3. Pre-qualify with three or more lenders, then compare the APR rather than the interest rate.
4. Confirm the Massachusetts licence with the regulator named above before committing.
5. Test the payment against your current bills before you commit.
6. Choose a term you can live with; stretching it lowers the payment but raises total interest.
7. Keep the amount to the expense; an approval is not a reason to take more.

The process is identical across Massachusetts; what changes is your credit file, not the fact that Salem holds 44,744 people.

What a Salem borrower is actually offered

With roughly 44,744 residents, Salem is a smaller city; its personal loans are typically unsecured, priced from your credit rather than the city's size. Because pricing is borrower-level, two people in Salem can be quoted different APRs on the same amount and term. A longer term lowers the monthly payment on a Salem loan but raises total interest, so the smallest payment is not the cheapest loan.

Land, water and location for Salem

Salem covers about 8.3 square miles of land, with 10.01 square miles of water inside its boundaries (Census Gazetteer). With 44,744 residents, the land area yields roughly 5,395 people per square mile. The largest place in Massachusetts, Boston, lies about 13 miles away. A 50-mile radius around Salem takes in 24 places that are larger. Within the same 50 miles lie 19 smaller Census places.

Borrowing reach in Salem

Salem is densely built, with about 5,395 people per square mile and 24 larger places within 50 miles. What is available to Salem's 44,744 borrowers is set by Massachusetts licensing and your own credit, not by how many branches are nearby. The nearest larger city, Lynn, MA about 4 miles away.