Salem, OR Rental Market Trends
Highlights
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
- $501-$7001%
- $701-$1,00041%
- $1,001-$1,50055%
- $1,501-$2,0003%
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
| Average Rent | Nov / 2016 | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Oct / 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Salem, OR | $905 | $921 | $951 | $969 | $969 | $998 | $1,019 | $1,025 | $1,044 | $1,062 |
| National | $1,353 | $1,349 | $1,381 | $1,383 | $1,386 | $1,421 | $1,430 | $1,434 | $1,470 | $1,476 |
Average Rent in Salem, OR By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Southwest Salem | $983 |
| South Central Salem | $983 |
| Morningside | $983 |
| Minto Island | $983 |
| North Lancaster | $1,020 |
| Sunnyslope | $1,020 |
| Faye Wright | $1,020 |
| Southeast Salem | $1,044 |
| Northgate | $1,047 |
| East Lancaster | $1,047 |
| Keizer | $1,058 |
| Southeast Mill Creek | $1,061 |
| Higland | $1,074 |
| Northeast Salem | $1,092 |
| Northeast Neighbors | $1,092 |
| Lansing | $1,092 |
| Grant | $1,092 |
| Central Salem | $1,092 |
| South Gateway | $1,096 |
| West Salem | $1,116 |
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.
The most expensive neighborhoods in Salem are Northeast Salem ($1,092), South Gateway ($1,096) and West Salem ($1,116).
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
| Average Rent | $1,092 |
|---|
East Lancaster rent is 1% lower than Salem average
| Average Rent | $1,047 |
|---|
How Does Salem Compare to Nearby Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Salem | $1,062 | 4% |
| Hayesville | $1,020 | 4% |
| Keizer | $1,058 | 5% |
| Four Corners | $1,124 | 2% |
| Silverton | $1,027 | -13% |
| Woodburn | $1,015 | 3% |
| Brooks | $1,020 | 4% |
For more information about the Salem rental trends, check out our monthly rent report