Cheap Homes for Rent in Salem, IA from $500 (14 Rentals)

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Search the lowest-cost Homes available for rent right now in Salem.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

property at 116 N 5th St

116 N 5th St

BurlingtonIA52601

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

Salem, IA Local Guide

Cheapest Available Salem Apartments for Rent and Nearby

 

The cheapest available apartment rental in Salem, IA is a Studio unit found at Macomb Rentals priced from $390. Smith and Royer Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $550. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Macomb RentalsStudio, 1 bathStudio,1BA$390
Smith and Royer Apartments1 Bedroom1BR,1BA$550
Mediapolis VillageUnit 592BR,1BA$565
Bel Aire Apartments2 Bedroom2BR,1BA$745
Westland Village1x11BR,1BA$750

Best Value Apartments for Rent in Salem, IA and Nearby

As of July 31, 2025 the best value apartment in the Salem area is the $0.89 price per square foot Churchill Lofts - 316 Model at Churchill Lofts in the in the Ginger Ridge neighborhood starting from $1,498. The second greatest value Salem apartment is the 4 BR / 2 BA Model at 926 Harlocke St (IC) starting at $1,650 with a $1.14 price per square foot in the Cottage Hill neighborhood. Here is today’s list of the best values for Salem apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Churchill LoftsChurchill Lofts - 3162BR,1BA$0.89
926 Harlocke St (IC)4 BR / 2 BA4BR,2BA$1.14
Fairfield EstatesUnit 814BR,2BA$0.84
Mediapolis VillageUnit 414BR,2BA$0.96
Nexus TownHomes510 Layne Drive2BR,1BA$1.28
Washington ApartmentsThe Harmon2BR,1BA$1.09
Colorado Senior Lofts 55+Two Bedroom2BR,1BA$0.86
Blaul LoftsBlaul Lofts - 3121BR,1BA$0.98
Orchard Lane ApartmentsB1 Renovated2BR,1BA$1.08
Louden LoftsTwo Bedroom2BR,2BA$1.00

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Frequently Asked Questions about Salem

What type of rentals are currently available in Salem?

There are currently 46 Apartments for Rent in Salem, IA with pricing that ranges from $390 to $3,300. There are also 34 Single Family Homes for rent, Condos, and Townhome rentals currently available in Salem ranging from $550 to $2,900.

What is the current price range for Rental Homes in Salem?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Salem ranges from $550 to $2,900 with an average monthly rent of $1,354.

How much are larger Three and Four Bedroom Rentals in Salem?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Salem range from $695 to $3,300, while Three Bedroom Homes, Condos, and Townhomes for rent range from $712 to $2,250. Four Bedroom Single-Family rentals are also available starting from $900 and Four Bedroom Apartments start at $600.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.