Cheap Homes for Rent in Salem, OR from $500 (11 Rentals)

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

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

Cheapest Neighborhoods for Apartments in Salem, OR

Pricing Updated: 06/19/2025

Current apartment rentals in the Salem, OR area range in price from $664 to $4,040 with an overall median price of $2,206. The three Salem neighborhoods with the lowest median rent pricing are Outer West at $899, Northeast Neighbors at $899, and South Gateway at $1,030. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Salem Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Outer West$1,700$89917
Northeast Neighbors$1,800$89938
South Gateway$1,802$1,03033
Southeast Mill Creek$1,849$1,05040
Sunnyslope$1,895$99546
South Salem$1,900$99522
Hayesville$1,925$664143
Outer East$1,925$664205
Four Corners$1,940$89967
Southeast Salem$1,940$99561

Cheapest Available Salem Apartments for Rent

 

The cheapest available apartment rental in Salem, OR is a 1 Bed unit found at Brighton Park in the East Lancaster neighborhood priced from $899. Salem Parkway Apartments in the Northgate neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $899. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Brighton Park1BR 1Bath1BR,1BA$899
Salem Parkway Apartments1BR 1 Bath1BR,1BA$899
Crown Ridge Apartments1BR 1 Bath1BR,1BA$899
Madison Court ApartmentsStudioStudio,1BA$950
Riverbend Terrace ApartmentsStudioStudio,1BA$990

Best Value Apartments for Rent in Salem, OR

As of June 19, 2025 the best value apartment in the Salem area is the $1.11 price per square foot 4 Bed / 2.5 Bath Townhome Model at INLAND SHORES TOWNHOMES in the in the Outer Keizer neighborhood starting from $2,590. The second greatest value Salem apartment is the 3x2 Model at Fisher Park Apartments starting at $1,895 with a $1.33 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.
INLAND SHORES TOWNHOMES4 Bed / 2.5 Bath Townhome4BR,2.5BA$1.11
Fisher Park Apartments3x23BR,2BA$1.33
North Park Apartments3 bedrooms3BR,1.5BA$1.23
Southside Apartments2BR 1.5Bath2BR,1.5BA$1.28
Battle Creek Lodge Apartments2 BEDROOM2BR,1BA$1.30
WALLACE PARK APARTMENTS (03)2 Bedroom 1 Bathroom2BR,1BA$1.37
12th Street Lofts2 Beds, 1 bath2BR,1BA$1.38
Brooktree Apartments2BR 1 Bath2BR,1BA$1.35
Lancaster Terrace Apartments2x12BR,1BA$1.40
1481 Tripp / Lee ApartmentsOne Bed1BR,1BA$1.24

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Frequently Asked Questions about Salem

What type of rentals are currently available in Salem?

There are currently 833 Apartments for Rent in Salem, OR with pricing that ranges from $664 to $4,040. There are also 87 Single Family Homes for rent, Condos, and Townhome rentals currently available in Salem ranging from $595 to $3,775.

What is the current price range for Rental Homes in Salem?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Salem ranges from $595 to $3,775 with an average monthly rent of $2,063.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.