Average Rent in Salem, OR↑ Rents rising 15.1% YoY

Salem, OR has rental prices ranging from $1,147/month to $2,334/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,198/month — 14% below the national average of $1,400/month. With a median household income of $76,010/year, spending $1,198/month on a 1-bedroom represents 19% of gross income — within the recommended 30% threshold.

How Salem Compares

With an average 2-bedroom rent of $1,543/month, Salem ranks #6 most expensive of the 31 cities tracked in Oregon — pricier than 93% of all US cities in our data.

The Salem Rental Market

The Salem, OR area has a population of about 435,085 and 37% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Salem, OR have risen by $203/month (15.1%) over the past year, from $1,340 to $1,543. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.

Affordability

To afford a 1-bedroom apartment in Salem, OR without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $47,920. The local median household income of $76,010 exceeds that threshold by $28,090, making Salem relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Salem, OR is $440,418, giving a price-to-rent ratio of 23.8. With a break-even horizon of approximately 24 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Salem's neighborhoods. Among the highest-value areas are Southeast Salem ($326,781 median home value), Highland ($346,021 median home value), Central Area ($351,842 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Salem, OR Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Salem?

Break-even analysis and mortgage estimates based on local market data.

Living in Salem

Cost of living, job market, crime rates, and moving cost estimates.