31 Luxury Apartments for rent in Salem, OR

Last updated January 22 at 9:51am UTC
1925 Broadway Street NE
Highland
Salem, OR
Updated January 18 at 8:00pm UTC
3 Bedrooms
$1,400
4974 Drew Street NE
Northgate
Salem, OR
Updated January 6 at 12:15pm UTC
3 Bedrooms
$1,595
2235 Electric St SE
Southeast Salem
Salem, OR
Updated January 3 at 3:50pm UTC
3 Bedrooms
$1,395
5721 Liberty Rd S
Sunnyslope
Salem, OR
Updated January 20 at 1:45am UTC
4 Bedrooms
$2,400
2250 Dorchester Dr. S
South Salem
Salem, OR
Updated January 4 at 12:11pm UTC
2 Bedrooms
$1,800
1199 E St NE
Grant
Salem, OR
Updated January 22 at 9:51am UTC
3 Bedrooms
$1,350
2185 Berry St SE
South Central
Salem, OR
Updated January 18 at 8:06pm UTC
3 Bedrooms
$1,495
1336 Hoffman Road NE
East Lancaster
Salem, OR
Updated January 9 at 12:00pm UTC
3 Bedrooms
$1,325
1347 Ewald Ave SE
Morningside
Salem, OR
Updated January 18 at 7:58pm UTC
3 Bedrooms
$1,700
1724 Jordan Dr. S
Sunnyslope
Salem, OR
Updated January 17 at 11:28am UTC
3 Bedrooms
$1,795
270 Rural Ave S
South Central
Salem, OR
Updated January 18 at 8:08pm UTC
3 Bedrooms
$1,295
1577 Franklin St NW
West Salem
Salem, OR
Updated January 18 at 8:05pm UTC
2 Bedrooms
$1,095
6160 Crooked Stick Lp
South Gateway
Salem, OR
Updated January 20 at 11:24am UTC
4 Bedrooms
$2,695
748 Roosevelt St NW
West Salem
Salem, OR
Updated January 16 at 11:20am UTC
4 Bedrooms
$2,600
3485 Crestview Dr S
South Salem
Salem, OR
Updated January 18 at 8:09pm UTC
3 Bedrooms
$1,295
5721 Liberty Rd S
Sunnyslope
Salem, OR
Updated January 18 at 8:05pm UTC
3 Bedrooms
$1,800
665 Salem Heights Ave S
Southwest
Salem, OR
Updated January 13 at 11:55am UTC
3 Bedrooms
$1,695
5831 Woodside Dr SE
South Gateway
Salem, OR
Updated January 16 at 11:22am UTC
2 Bedrooms
$1,800
4167 Bramble Ct NE
Hayesville
Salem, OR
Updated January 6 at 12:14pm UTC
3 Bedrooms
$1,295
4130 Portland Rd NE
Northgate
Salem, OR
Updated January 15 at 5:47pm UTC
2 Bedrooms
$1,300
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January 2018 Salem Rent Report

Welcome to the January 2018 Salem Rent Report. Salem rents declined over the past month. In this report, we'll evaluate trends in the Salem rental market, including comparisons to cities throughout the state and nation.

View full Salem Rent Report
Rent Report
Salem

January 2018 Salem Rent Report

Welcome to the January 2018 Salem Rent Report. Salem rents declined over the past month. In this report, we'll evaluate trends in the Salem rental market, including comparisons to cities throughout the state and nation.

Salem rents declined significantly over the past month

Salem rents have declined 0.5% over the past month, but have increased sharply by 8.3% in comparison to the same time last year. Currently, median rents in Salem stand at $810 for a one-bedroom apartment and $1,070 for a two-bedroom. This is the second straight month that the city has seen rent decreases after an increase in October. Salem's year-over-year rent growth leads the state average of 1.5%, as well as the national average of 2.8%.

Rents rising across cities in Oregon

Throughout the past year, rent increases have been occurring not just in the city of Salem, but across the entire state. Of the largest 10 cities that we have data for in Oregon, 9 of them have seen prices rise. The state as a whole logged rent growth of 1.5% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Hillsboro is the most expensive of all Oregon's major cities, with a median two-bedroom rent of $1,980; of the 10 largest cities in the state that we have data for, Portland, where a two-bedroom goes for $1,320, is the only major city to see rents fall year-over-year (-1.6%).
  • Salem, Gresham, and Bend have all experienced year-over-year growth above the state average (8.3%, 6.9%, and 6.1%, respectively).

Salem rents more affordable than many large cities nationwide

As rents have increased sharply in Salem, a few large cities nationwide have seen rents grow more modestly. Salem is still more affordable than most large cities across the country.

  • Salem's median two-bedroom rent of $1,070 is below the national average of $1,160. Nationwide, rents have grown by 2.8% over the past year compared to the 8.3% increase in Salem.
  • While Salem's rents rose sharply over the past year, many cities nationwide also saw increases, including Phoenix (+3.8%), Seattle (+3.0%), and Dallas (+2.2%).
  • Renters will find more reasonable prices in Salem than most large cities. For example, San Francisco has a median 2BR rent of $3,010, which is more than two-and-a-half times the price in Salem.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.