Cheap Apartments for Rent in Salem, OR from $400 (293 Rentals)

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

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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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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 St SESalem, OR 97302
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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.

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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.

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Salem, OR Local Guide

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Cheapest Neighborhoods for Apartments in Salem, OR

Pricing Updated: 05/07/2026

Current apartment rentals in the Salem, OR area range in price from $1,000 to $3,725 with an overall median price of $2,587. The three Salem neighborhoods with the lowest median rent pricing are South Salem at $1,645, Croisan at $1,650, and North Lancaster at $1,350. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Salem Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
South Salem$1,650$1,6452
Croisan$1,672$1,6501
North Lancaster$1,925$1,3504
South Central Salem$2,020$1,1007
South Central$2,195$1,1004
Faye Wright$2,250$1,6454
Outer West$2,252$1,00011
West Salem$2,252$1,00011
Croisan Illahe$2,272$1,7502
Northeast Neighbors$2,385$1,32511

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 $845. The Court at Hawthorne in the East Lancaster neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $895. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
192-Western Village Apartments1x1 Upstairs1BR,1BA$845
The Court at HawthorneUpstairs 1 bed1BR,1BA$895
Mallard Landing1BED1BATH1BR,1BA$895
1481 Tripp / Lee ApartmentsOne Bed1BR,1BA$895
338-Fir Knoll Court Apartments1x11BR,1BA$925
Madison Court ApartmentsStudioStudio,1BA$950
Sunnyslope Manor2 Bedroom 1 Bath2BR,1BA$966
Riverbend Terrace ApartmentsStudioStudio,1BA$990
Orchard Park Apartments1 Bedroom 1 Bathroom1BR,1BA$991
Anita Manor ApartmentsAnita1BR,1BA$995

Best Value Apartments for Rent in Salem, OR

As of May 07, 2026 the best value apartment in the Salem area is the $1.28 price per square foot 3 Bedroom 1 Bath Model at Z_Campus Court Apartments in the in the Lansing neighborhood starting from $1,342. The second greatest value Salem apartment is the 2br 1.5 bath Model at Southside Apartments starting at $1,380 with a $1.31 price per square foot in the Sunnyslope 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.
Z_Campus Court Apartments3 Bedroom 1 Bath3BR,1BA$1.28
Southside Apartments2br 1.5 bath2BR,1.5BA$1.31
Battle Creek Lodges2x12BR,1BA$1.30
Brooktree Apartments2BR 1 Bath2BR,1BA$1.30
828 25th St SE, Unit 828828 25th St SE2BR,1BA$1.32
Park Place Apartments2 Bed 1 Bath Downstairs2BR,1BA$1.15
Liberty Street Apartments2 Beds, 1 bath2BR,1BA$1.22
3441 3rd Ave2 Bed 1 bath W/D2BR,1BA$1.28
1481 Tripp / Lee ApartmentsOne Bed1BR,1BA$1.12
Sunnyslope Manor2 Bedroom 1 Bath2BR,1BA$1.28

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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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.

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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.

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Salem, OR

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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 Madison Court Apartments listed at $950.

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 $966 at Sunnyslope Manor.

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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.