Cheap Apartments for Rent in the Downtown Salem Neighborhood of Salem, OR from $700 (35 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Salem area of 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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Rivenwood
Rent Specials
$1,149 - $1,799
Total Monthly Price

Total Monthly Price

Base Rent
$1,149 - $1,799
Total Monthly Price
$1,149 - $1,799
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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14th St. Courtyard
1 Bedroom Apartments

14th St. Courtyard

830-854 14th St NESalem, OR 97301
  • Utilities Included
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Courtney Place
1 to 2 Bedroom Apartments

Courtney Place

220 Cottage St NESalem, OR 97301
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804 14th St NE
1 Bedroom Apartments

804 14th St NE

804 14th St NESalem, OR 97301

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.

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Koz on State
Studio to 2 Bedroom Apartments

Koz on State

260 State StSalem, OR 97301
  • Utilities Included
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Frances Apartments
Studio to 1 Bedroom Apartments

Frances Apartments

555 Winter St NESalem, OR 97301
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Fountain Court
1 to 2 Bedroom Apartments

Fountain Court

928-990 Fir St SSalem, OR 97302
Senior Living

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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Showing Results 1-35, Page 1 of 1

Downtown Salem, Salem, OR Local Guide

Cheapest Available Downtown Salem Apartments for Rent

 

The cheapest available apartment rental in the Downtown Salem area of Salem, OR is a 1 Bed unit found at 192-Western Village Apartments priced from $845. Madison Court Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $950. Here are the most affordable Downtown Salem apartments for rent in Salem, OR:

Apartment ListingModel NameBed/BathPriced From
192-Western Village Apartments1x1 Upstairs1BR,1BA$845
Madison Court ApartmentsStudioStudio,1BA$950
1481 Tripp / Lee ApartmentsOne Bed1BR,1BA$995
Liberty Street Apartments2 Beds, 1 bath2BR,1BA$999
Willamette Terrace Apartments1BR/1.0BA1BR,1BA$1,050
RivenwoodThe GrainlineStudio,1BA$1,149
6 Nineteen ApartmentsTwo Bedroom2BR,1BA$1,225
WALLACE PARK APARTMENTS (03)2 Bedroom 1 Bathroom2BR,1BA$1,325
The Metropolitan Building0 Bedroom 1 Bath - 45009Studio,1BA$1,345
Willamette Landing2x1 End Unit2BR,1BA$1,425

Best Value Apartments for Rent in Downtown Salem, OR

As of July 12, 2026 the best value apartment in the Downtown Salem area is the $1.95 price per square foot 3x2 Model at The Meridian Apartments in the in the West Salem neighborhood starting from $2,795. The second greatest value Downtown Salem apartment is the 2 Bedroom 1 Bathroom Model at WALLACE PARK APARTMENTS (03) starting at $1,325 with a $1.34 price per square foot in the West Salem neighborhood. Here is today’s list of the best values for Downtown Salem apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Meridian Apartments3x23BR,2BA$1.95
WALLACE PARK APARTMENTS (03)2 Bedroom 1 Bathroom2BR,1BA$1.34
Liberty Street Apartments2 Beds, 1 bath2BR,1BA$1.11
Willamette Landing2x1 End Unit2BR,1BA$1.61
1481 Tripp / Lee ApartmentsOne Bed1BR,1BA$1.24
Taybin Terrace ApartmentsUpstairs1BR,1BA$1.57
6 Nineteen ApartmentsTwo Bedroom2BR,1BA$2.04
Madison Court ApartmentsStudioStudio ,1BA$1.58
The Metropolitan Building0 Bedroom 1 Bath - 45009Studio ,1BA$2.28
Willamette Terrace Apartments1BR/1.0BA1BR,1BA$1.84

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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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.

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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, including Salem. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for the best proximity to parks and outdoor amenities, luxury amenities, transit availability, pet-friendly communities, features that make it easier to raise kids, and other valuable search options. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Salem Apartments

What is the Cheapest Studio apartment in Downtown Salem?

Currently the most affordable Cheap Studio Apartment in Downtown Salem is at Madison Court Apartments listed at $950.

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

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

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Salem is starting from $999 at Liberty Street Apartments.

What is the most affordable Downtown Salem Three Bedroom Apartment?

The best deal on a cheap Downtown Salem Three Bedroom Apartment rental is at Willamette Terrace Apartments and starts from $1,800.

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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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.

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

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.