Salem, OR Rental Market
Salem is Oregon's state capital and a significant employment center anchored by state government, Salem Health hospital, Chemeketa Community College, and a substantial food processing and agriculture sector in the heart of the Willamette Valley. More affordable than Portland and with lower home prices, Salem attracts working families and state employees who need Willamette Valley access while keeping housing costs manageable. Its central position on I-5 makes it accessible to both Portland and Eugene job markets.
Get a rent estimate for an address in SalemAverage Rent in Salem, OR
$1,280
per month · 2026-06
Market Score
Key Facts — Salem, OR Rental Market
- Average rent in Salem, OR:$1,280/mo
- Median rent:$1,178/mo
- Rent range:$650 – $2,800/mo
- Most common rental (2 bedrooms):$1,125/mo
- Active listings:820
- Avg days to lease:30 days
- Year-over-year change:+3.2%
- Median home value:$320,000
- Est. gross annual yield:4.8%
- Data as of:2026-06
Rent by Bedroom in Salem, OR
Average monthly rent for each bedroom type based on current active listings in Salem.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $925/mo |
2 Bedrooms | $1,125/mo |
3 Bedrooms | $1,425/mo |
4 Bedrooms | $1,775/mo |
5 Bedrooms | $2,025/mo |
Salem Rental Market Statistics
Key indicators from the current Salem, OR rental market.
820
Available now in Salem
30
From list to lease
$1.02
Average across listings
1,250 sq ft
Typical rental size
$650 – $2,800
Min to max active listings
+3.2%
Avg rent vs. prior year
Investing in Salem, OR Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$320,000
Typical purchase price in Salem
Est. Gross Annual Yield
4.8%
Before expenses & vacancy
Avg Monthly Income
$1,280
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Salem for a full cash-flow breakdown including all costs.
Salem, OR Rental Market FAQ
Common questions about renting and investing in Salem, OR.
What is the average rent in Salem, OR?
The average rent in Salem, OR is $1,280 per month as of 2026. One-bedroom apartments average $925/mo, two-bedrooms average $1,125/mo, and three-bedroom homes average $1,425/mo. The South Salem neighborhoods near Pringle Creek and the Capitol area command slightly higher rents, while North Salem and areas near Chemeketa Community College offer the most affordable options.
Is Salem, OR a good place to invest in rental property?
Salem offers a 4.8% estimated gross yield with 3.2% year-over-year rent growth. State government employment, Salem Health, and Chemeketa Community College provide a stable, diversified tenant base with consistent year-round demand. The $320,000 median home value provides a lower acquisition cost than Portland while still delivering solid rental income from a city with deep government employment that weathers economic cycles well.
How competitive is the Salem, OR rental market?
Salem has approximately 820 active listings and averages 30 days on market — a steady pace for a mid-sized capital city. State government workers and healthcare employees from Salem Health represent the most consistent demand segments. Properties in South Salem with newer construction and family-friendly neighborhoods move fastest, while central Salem near the Capitol sees consistent demand from state workers and lobbyists seeking proximity to government offices.
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