Salem, OR Rental Market Trends
The average rent for an apartment in Salem is $1,062, a 4% increase compared to the previous year.
Average Rent in Salem, OR
|Average Rent||Y-o-Y Change||Average Apartment Size|
|$1,062||4%||887 sq. ft.|
The average size for a Salem, OR apartment is 887 square feet, but this number varies greatly depending on apartment type. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Salem, OR Apartment Rent Ranges
Salem, OR Occupied Housing Units
- Renter-occupied Households36%
- Owner-occupied Households63%
21,474 or 36% of the households in Salem, OR are renter-occupied while 37,158 or 63% are owner-occupied.
Salem, OR Rent Trends
|Nov / 2016||Mar / 2017||Jul / 2017||Nov / 2017||Mar / 2018||Jul / 2018||Nov / 2018||Mar / 2019||Jul / 2019||Oct / 2019|
Average Rent in Salem, OR By Neighborhood
|South Central Salem||$983|
|Southeast Mill Creek||$1,061|
The most affordable neighborhoods in Salem are Minto Island, where the average rent goes for $983/month, Morningside, where renters pay $983/mo on average, and South Central Salem, where the average rent goes for $983/mo. If you’re looking for other great deals, check out the listings from Southwest Salem ($983), North Lancaster ($1,020), and Faye Wright ($1,020), where the asking prices are below the average Salem rent of $1,062/mo.
Salem | Rent Comparison by Neighborhood
Rent in Central Salem is 4% higher than in East Lancaster
Central Salem rent is 3% higher than Salem average
East Lancaster rent is 1% lower than Salem average
How Does Salem Compare to Nearby Cities
|Average Rent||Y-o-Y Change|
For more information about the Salem rental trends, check out our monthly rent report