Cheap Apartments for Rent in Salem, OR from $500 (243 Rentals)

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

property at 4845 Skylab Ave NE
$695

Total Monthly Price

Base Rent$695
Total Monthly Price$695
1 Bedroom, 1 Bath Home for Rent
Available Oct 3
Furnished

4845 Skylab Ave NE

SalemOR97305
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Peace Street
$1,100 - $1,150

Total Monthly Price

Base Rent$1,100 - $1,150
Total Monthly Price$1,100 - $1,150
1 Bedroom Apartments Available Now

Peace Street

1291-1381 Peace StSalem, OR 97302
Affordability
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Salem, OR Local Guide

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Cheapest Neighborhoods for Apartments in Salem, OR

Pricing Updated: 09/19/2026

Current apartment rentals in the Salem, OR area range in price from $500 to $4,040 with an overall median price of $1,555. The three Salem neighborhoods with the lowest median rent pricing are Northeast Neighbors at $1,095, Northeast Salem at $1,095, and Southeast Salem at $1,100. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Salem Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Northeast Neighbors$1,095$95014
Northeast Salem$1,095$1,0752
Southeast Salem$1,100$99511
Morningside$1,250$99525
Grant$1,395$9009
NOLA$1,395$99535
Lansing$1,399$900111
South Salem$1,425$9955
Faye Wright$1,445$99520
Croisan$1,450$99914

Cheapest Available Salem Apartments for Rent

 

The cheapest available apartment rental in Salem, OR is a 1 Bed unit found at 192-Western Village Apartments in the Highland neighborhood priced from $795. 338-Fir Knoll Court Apartments in the Lansing neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $925. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
192-Western Village Apartments1x1 Upstairs1BR, 1BA$795
338-Fir Knoll Court Apartments1x11BR, 1BA$925
North Park Apartments1 bedroom1BR, 1BA$950
144-Rural Court1x11BR, 1BA$950
Madison Court ApartmentsStudioStudio, 1BA$950
Orchard Park Apartments1 Bedroom 1 Bathroom1BR, 1BA$991
1481 Tripp / Lee ApartmentsOne Bed1BR, 1BA$995
166-Gerth Apartments1x11BR, 1BA$995
3441 3rd Ave1 Bed 1 Bath1BR, 1BA$995
Mallard Landing1BED1BATH1BR, 1BA$995

Best Value Apartments for Rent in Salem, OR

As of September 20, 2026 the best value apartment in the Salem area is the $1.18 price per square foot 2x1.5 Model at Jamestown Apartments in the Croisan neighborhood starting from $1,295. The second greatest value Salem apartment is the 2 townhomes Model at North Park Apartments in the Northgate neighborhood starting at $1,295 with a $1.23 price per square foot. 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.
Jamestown Apartments2x1.52BR, 1.5BA$1.18
North Park Apartments2 townhomes2BR, 1BA$1.23
Southside Apartments2br 1.5 bath2BR, 1.5BA$1.30
Z_Campus Court Apartments3 Bedroom 1 Bath3BR, 1BA$1.28
Waular04-Park Place Apartments2BR/1.0BA2BR, 1BA$1.26
Salem 12-Plex2BR/1.0BA2BR, 1BA$1.22
Royvonne Hills ApartmentsTwo Bedroom1BR, 1BA$1.25
Liberty Street Apartments2 Beds, 1 bath2BR, 1BA$1.11
COIDYLWOOD2BR/1.0BA2BR, 1BA$1.28
1481 Tripp / Lee ApartmentsOne Bed1BR, 1BA$1.24

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Salem Overview

Salem is the capital of Oregon and is located in Marion County, the 2nd largest city in Oregon behind Portland. The top colleges are Willamette University, Corban University and Chemeketa Community College. Salem is nicknamed the Cherry City because of the different varieties of cherries invented and exhibited.

Why live in Salem, OR?

Salem has a beautiful woodsy landscape with a rich history of invention and filming. “One Flew Over the Cuckoo’s Nest” was filmed at the Oregon State Hospital. There are a plethora of wineries and vineyards from which to choose. The 46 parks are lush and inviting and spread over almost 30 miles across the state. Salem has ongoing community events like the Saturday Market, available from May until October, and exhibits baked goods, crafts, produce and meat. There is also the Wednesday Farmers’ Market that takes place downtown in Courthouse Square during the summer months. The Indoor Saturday Public Market is open all year-around.

Salem, OR
Population: 173,442

Ranked #149

in US Census Population by City

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Best Local Schools in
Salem, OR

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Salem Apartments

What is a cheap apartment in Salem?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Salem is under $995.

What is the price of a cheap apartment in Salem?

The cheapest apartment in Salem is 192-Western Village Apartments which is listed at $795, while the average apartment in Salem costs $1,555.

What types of apartments are the cheapest in Salem?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 28 regular apartments in Salem that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Salem?

Cheap apartments in Salem have an average cost of $335 which is $1,220 cheaper than the average rent for all rentals in Salem.

Expert Rental Resources

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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