2223 Mayflower Manor
New AlbanyIN47150
Cheap Homes for Rent in Salem, IN from $700 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Salem.
509 W 3rd St
SeymourIN47274
1002 E Main St
New AlbanyIN47150
216 E 13th St
New AlbanyIN47150
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
580 S Lincoln St
OrleansIN47452
126 N Longworth Ave
LouisvilleKY40212
608 E 8th St
New AlbanyIN47150
2619 Grant Line Rd
New AlbanyIN47150
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
Showing Results 1-8, Page 1 of 1
Salem, IN Local Guide
Forest in Indiana by Kurt Beard is licensed under CC BY 2.0
How much does it cost to rent a home in Salem?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Salem 2 Bedroom Homes for Rent | $1,271 | $850 | $2,000 |
| Salem 3 Bedroom Homes for Rent | $1,718 | $950 | $2,430 |
| Salem 4 Bedroom Homes for Rent | $1,595 | $1,595 | $1,595 |
| Salem 5 Bedroom Homes for Rent | $2,500 | $2,000 | $3,000 |
Browse Top Homes for Rent in Salem
Explore Salem
Salem, IN Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
Cheapest Available Salem Apartments for Rent and Nearby
The cheapest available apartment rental in Salem, IN is a 1 Bed unit found at Yellowwood Terrace Affordable Senior Housing in the Southern Indiana neighborhood priced from $200. Brookview Glen in the Downtown New Albany neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $378. Here is today’s list of the most affordable Salem apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Yellowwood Terrace Affordable Senior Housing | Standard | 1BR,1BA | $200 |
| Brookview Glen | Studio | Studio,1BA | $378 |
| Stonebrook of Scottsburg | A1 | 1BR,1BA | $750 |
Best Value Apartments for Rent in Salem, IN and Nearby
As of May 27, 2025 the best value apartment in the Salem area is the $0.79 price per square foot Three Bedroom Model at Nicholas Landing in the in the Southern Indiana neighborhood starting from $1,411. The second greatest value Salem apartment is the Koehler Springs II Model at Koehler Springs starting at $1,200 with a $0.89 price per square foot in the Southern Indiana neighborhood. Here is today’s list of the best values for Salem apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Nicholas Landing | Three Bedroom | 3BR,2BA | $0.79 |
| Koehler Springs | Koehler Springs II | 3BR,2.5BA | $0.89 |
| Heritage Springs Rentals | Villas of Heritage Springs Apartments | 2BR,2BA | $1.03 |
| Glenview Apartments | 2 Bedroom Den W/D Hookups - 1st Fl. | 2BR,1.5BA | $0.95 |
| Plaza Square Apartments | 2x1 | 2BR,1BA | $1.00 |
| Stone Creek Apartments I & II | 2 Bed 1 Bath | 2BR,1BA | $0.95 |
| High Park Apartments | 2 Bedroom | 2BR,1BA | $0.99 |
| Courtyard Apartments | 2.1A | 2BR,1BA | $1.05 |
| Yellowwood Terrace Affordable Senior Housing | Standard | 1BR,1BA | $0.34 |
| Brookview Glen | Studio | Studio ,1BA | $0.95 |
Quick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Let everyone know!
Do you know the Salem area?
If you’re an expert on all things Salem, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Frequently Asked Questions about Salem
What type of rentals are currently available in Salem?
There are currently 51 Apartments for Rent in Salem, IN with pricing that ranges from $200 to $2,380. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Salem ranging from $700 to $3,000.
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 $700 to $3,000 with an average monthly rent of $1,561.
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.
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.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.
Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.