1106 Waller St SE
SalemOR97302
Cheap Homes for Rent in Downtown Salem Neighborhood of Salem, OR from $1,100 (2 Rentals)
Search the lowest-cost Homes 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.
1118 Waller St SE
SalemOR97302
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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Downtown Salem, Salem, OR Local Guide
How much does it cost to rent a home in Downtown Salem?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Salem 2 Bedroom Homes for Rent | $1,347 | $1,295 | $1,400 |
| Downtown Salem 3 Bedroom Homes for Rent | $2,020 | $1,845 | $2,195 |
| Downtown Salem 4 Bedroom Homes for Rent | $2,595 | $2,595 | $2,595 |
Browse Homes for Rent in this Neighborhood
There are currently 2 rentals with your search options within a 2 mile radius of the Downtown Salem Neighborhood of Salem, OR.
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Best Value Apartments for Rent in Downtown Salem, OR
As of May 07, 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Meridian Apartments | 3x2 | 3BR,2BA | $1.95 |
| WALLACE PARK APARTMENTS (03) | 2 Bedroom 1 Bathroom | 2BR,1BA | $1.34 |
| 12th Street Lofts | 2 bed 1 bath - 1st Floor | 2BR,1BA | $1.32 |
| Liberty Street Apartments | 2 Beds, 1 bath | 2BR,1BA | $1.22 |
| Willamette Landing | 2x1 End Unit | 2BR,1BA | $1.81 |
| 1481 Tripp / Lee Apartments | One Bed | 1BR,1BA | $1.12 |
| Taybin Terrace Apartments | Upstairs | 1BR,1BA | $1.57 |
| Willamette Terrace Apartments | 2BR/1.0BA | 2BR,1BA | $1.92 |
| The Metropolitan Building | 0 Bedroom 1 Bath - 45009 | Studio ,1BA | $2.10 |
| Madison Court Apartments | Studio | Studio ,1BA | $1.58 |
Frequently Asked Questions about Downtown Salem
What type of rentals are currently available in Downtown Salem?
There are currently 177 Apartments for Rent in Downtown Salem, OR with pricing that ranges from $895 to $4,040. There are also 9 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Salem ranging from $1,100 to $2,595.
What is the current price range for Rental Homes in Downtown Salem?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Salem ranges from $1,100 to $2,595 with an average monthly rent of $1,770.
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
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.
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.
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.
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.