Cheap Apartments for Rent in Salem, OR from $400 (229 Rentals)

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

property at 2594 Hummingbird St NE

$650

Total Monthly Price

Total Monthly Price

Base Rent
$650
Total Monthly Price
$650

1 Bedroom, 1 Bath Home for Rent

Available Now

2594 Hummingbird St NE, Unit Bedroom C

2594 Hummingbird St NE
SalemOR97301

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Peace Street
$1,100 - $1,150
Total Monthly Price

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
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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Rivenwood
Rent Specials
$1,199 - $1,899
Total Monthly Price

Total Monthly Price

Base Rent
$1,199 - $1,899
Total Monthly Price
$1,199 - $1,899
Studio to 1 Bedroom Apartments Available Now

Rivenwood

424 Center St NESalem, OR 97301
Furnished
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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Salem, OR Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Salem, OR

Pricing Updated: 08/05/2026

Current apartment rentals in the Salem, OR area range in price from $650 to $3,600 with an overall median price of $2,112. The three Salem neighborhoods with the lowest median rent pricing are Northeast Salem at $1,450, Northeast Neighbors at $1,645, and Highland at $1,722. 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 Salem$1,450$1,4502
Northeast Neighbors$1,645$1,3259
Highland$1,722$1,3253
South Central$1,795$99511
Grant$1,870$1,1954
Northgate$1,895$6508
Downtown Salem$1,995$1,1956
Lansing$1,995$65031
Central Area$2,000$1,1957
Four Corners$2,000$1,45017

Cheapest Available Salem Apartments for Rent

 

The cheapest available apartment rental in Salem, OR is a Studio unit found at The Metropolitan Building in the West Salem neighborhood priced from $500. Oakhill Apartments in the Sunnyslope neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $786. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Metropolitan Building0 Bedroom 1 Bath - 76101Studio,1BA$500
Oakhill Apartments2 bed 1 bath2BR,1BA$786
192-Western Village Apartments1x1 Upstairs1BR,1BA$845
338-Fir Knoll Court Apartments1x11BR,1BA$925
Madison Court ApartmentsStudioStudio,1BA$950
Springwood Terrace ApartmentsDownstairs 1 Bed1BR,1BA$950
046-Lancaster Court1x11BR,1BA$975
Orchard Park Apartments1 Bedroom 1 Bathroom1BR,1BA$991
Mallard Landing1BED1BATH1BR,1BA$995
The Court at HawthorneUpstairs 2 Bed2BR,1BA$995

Best Value Apartments for Rent in Salem, OR

As of August 05, 2026 the best value apartment in the Salem area is the $1.41 price per square foot The Folsom Model at Alder Ridge Townhomes in the in the Northgate neighborhood starting from $2,400. The second greatest value Salem apartment is the 3 Bedroom 1 Bath Model at Z_Campus Court Apartments starting at $1,342 with a $1.28 price per square foot in the Lansing 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.
Alder Ridge TownhomesThe Folsom3BR,2.5BA$1.41
Z_Campus Court Apartments3 Bedroom 1 Bath3BR,1BA$1.28
North Park Apartments2 bedrooms2BR,1BA$1.32
Oakhill Apartments2 bed 1 bath2BR,1BA$0.83
Royvonne Hills ApartmentsTwo Bedroom1BR,1BA$1.31
Liberty Street Apartments2 Beds, 1 bath2BR,1BA$1.11
Parkview Apartments2x12BR,1BA$1.40
Columbia Village Apartments2x12BR,1BA$1.41
Cascade View Apartments2 Beds, 1 bath2BR,1BA$1.40
046-Lancaster Court1x11BR,1BA$1.39

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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!

Explore Salem, OR Rentals by Map

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Frequently Asked Questions about Cheap Salem Apartments

What is the Cheapest Studio apartment in Salem?

Currently the most affordable Cheap Studio Apartment in Salem is at The Metropolitan Building listed at $500.

How much is rent for a Cheap One Bedroom Salem Apartment?

The lowest price for a Cheap One Bedroom Salem Apartment is $845 at 192-Western Village Apartments.

What is the lowest price for a Cheap Two Bedroom Salem Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Salem is starting from $786 at Oakhill Apartments.

What is the most affordable Salem Three Bedroom Apartment?

The best deal on a cheap Salem Three Bedroom Apartment rental is at Z_Campus Court Apartments and starts from $1,342.

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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.