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Rental market trends in Salem, OR

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Average Rent in Salem, OR

Average Rent in Salem, OR

Avg. RentAnnual Change
Studio - $125-91%
1 Bed - $1,397+4%
2 Beds - $1,597-4%
Last updated 3/2/2024

Average Apartment Cost in Salem, OR

The average rent for apartments in Salem, OR, is between $125 and $1,597 in 2024. For a studio apartment in Salem, OR, the average rent is $125. When it comes to 1-bedroom apartments, the average rent in Salem, OR, is $1,397. For a 2-bedroom apartment, the average rent is $1,597.

Apartment Rent Ranges in Salem, OR

Apartment PricesProportion
0%
4%
47%
27%
22%

Neighborhood Apartment Rent Trends in Salem, OR

NeighborhoodStudio Avg RentAnnual Change
Northgate$1,4370%
Central Area$1,050--
Northeast Neighbors$995--
West Salem$800--
South Gateway$125--
Highland$65--
Neighborhood1 Bed Avg RentAnnual Change
South Gateway$1,4450%
Southeast Mill Creek$1,435+7%
Sunnyslope$1,425+2%
Faye Wright$1,349+42%
West Salem$1,3000%
East Lancaster$1,2490%
North Lancaster$1,212-15%
Northgate$1,195-27%
Morningside$1,195--
Central Area$1,150--
Grant$1,095--
Highland$1,075+8%
South Salem$1,050--
Southeast Salem$1,050-12%
South Central$1,050--
Southwest Salem$1,050--
Northeast Neighbors$995--
Northeast Salem$935--
Neighborhood2 Beds Avg RentAnnual Change
Central Area$1,795-31%
West Salem$1,717+3%
Faye Wright$1,705+1%
Morningside$1,650--
Southeast Mill Creek$1,624+2%
South Gateway$1,600-11%
Sunnyslope$1,5950%
Lansing$1,587--
Southeast Salem$1,500--
North Lancaster$1,460-4%
South Central$1,395--
Grant$1,350--
East Lancaster$1,3370%
Northgate$1,325-30%
Northeast Neighbors$1,275+7%
Highland$1,275-2%
South Salem$1,250--
Southwest Salem$1,250--
Northeast Salem$1,0950%

How Other Cities Compare to Salem, OR

CityStudio Avg RentAnnual Change
Hillsboro$2,044-9%
Lake Oswego$1,904+15%
Beaverton$1,679-26%
Milwaukie$1,497--
Canby$1,4750%
Albany$1,4670%
Corvallis$1,375+10%
Tualatin$1,295+6%
Wilsonville$1,245-14%
Gresham$1,218+2%
Portland$1,212-3%
Forest Grove$1,200--
City1 Bed Avg RentAnnual Change
Happy Valley$3,083-6%
West Linn$2,405+42%
Hillsboro$2,343-4%
Lake Oswego$2,225+6%
Milwaukie$1,689+7%
Albany$1,595+6%
Wilsonville$1,593-12%
Canby$1,5600%
Corvallis$1,512+4%
Portland$1,497-6%
Oregon City$1,495+3%
Beaverton$1,457-4%
Monmouth$1,450--
Gresham$1,354-3%
Lebanon$1,350+8%
Forest Grove$1,275-13%
Mcminnville$1,250--
Keizer$925+3%
City2 Beds Avg RentAnnual Change
Hillsboro$2,183-25%
Newberg$1,995+18%
Wilsonville$1,847-22%
Albany$1,840-3%
Corvallis$1,800+5%
Milwaukie$1,765-4%
Portland$1,750-10%
Beaverton$1,695-4%
Mcminnville$1,695+6%
Lincoln City$1,6950%
Canby$1,657+5%
Gresham$1,640-2%
Tualatin$1,5950%
Clackamas$1,550--
Lebanon$1,505+1%
Oregon City$1,495-18%
Keizer$1,425+8%
Monmouth$1,395+8%
Forest Grove$1,375-21%

Salem, OR Rent Trends

Studio1 Bed2 Beds
Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023Nov 2023Dec 2023Jan 2024Feb 2024
$1437$1437$800$995$875$995$450$875$1437$1125$1100$1100$1100
$1347$1360$1324$1324$1372$1324$1322$1333$1342$1385$1347$1347$1397
$1672$1672$1615$1600$1622$1622$1585$1540$1560$1537$1520$1572$1597
$1965$1970$1980$1980$1980$1995$1995$1970$1965$1965$1965$1965$1965

Neighborhood Information for Salem, OR

What are the most affordable neighborhoods in Salem, OR?

The most affordable neighborhoods in Salem are Northeast Salem, where the average 1-bedroom apartment rent goes for $935, Northeast Neighbors, where renters pay $995 on average for a 1-bedroom apartment, and South Salem, where the average 1-bedroom apartment rent goes for $1,050. If you're looking for other great deals, check out the listings in Southeast Salem ($1,050 for a 1-bedroom apartment) or South Central ($1,050 for a 1-bedroom apartment), compared to the $1,397 average for a Salem 1-bedroom apartment.

What are the most expensive neighborhoods in Salem, OR?

The most affordable neighborhoods in Salem are South Gateway, where the average 1-bedroom apartment rent goes for $1,445, Southeast Mill Creek, where renters pay $1,435 on average for a 1-bedroom apartment, and Sunnyslope, where the average 1-bedroom apartment rent goes for $1,425. If you're looking for other great deals, check out the listings in Faye Wright ($1,349 for a 1-bedroom apartment) or West Salem ($1,300 for a 1-bedroom apartment), compared to the $1,397 average for a Salem 1-bedroom apartment.

What are the most popular neighborhoods in Salem, OR?

The most popular neighborhoods in Salem are Central Area, where the average 1-bedroom apartment rent goes for $1,150, Northeast Neighbors, where renters pay $995 on average for a 1-bedroom apartment, and Southeast Salem, where the average 1-bedroom apartment rent goes for $1,050. If you're looking for other popular neighborhoods, check out the listings in Grant ($1,095 for a 1-bedroom apartment) or Northeast Salem ($935 for a 1-bedroom apartment), compared to the $1,397 average for a Salem 1-bedroom apartment.

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