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Average Rent in 97301, Salem, OR

Home  »  OR  »  Salem  »  97301

Current Versus Historical 97301, Salem, OR Rents

97301 rentals average $1,075 for a studio rental to $1,895 for a 3-bedroom rental. The median price of all currently available listings is $1,225, or roughly $2 per square feet.
For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $2,856 (-49.59%) year-over-year from $5,759 to $2,903. 1-bedroom rentals prices have increased by $23 (2.12%) year-over-year from $1,102 to $1,125. 2-bedroom rentals prices have increased by $11 (0.82%) year-over-year from $1,314 to $1,325. 3-bedroom rentals prices have decreased by $279 (-12.84%) year-over-year from $2,174 to $1,895. 4-bedroom rentals prices have increased by $302 (12.07%) year-over-year from $2,498 to $2,799. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 16.68% this month. 1-bedroom rents have gone up by 6.33% this month. 2-bedroom rents have gone up by 1.21% this month. 3-bedroom rents have gone up by 0.18% this month. 4-bedroom rents have gone up by 7.06% this month.
Beds
Price / Sqft
 Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $2.60 $2,903 $5,759 (-49.59%) $3,723 (-22.03%)
1 BR $1.86 $1,125 $1,102 (2.12%) $947 (18.84%)
2 BR $1.59 $1,325 $1,314 (0.82%) $1,075 (23.26%)
3 BR $1.70 $1,895 $2,174 (-12.84%) $1,588 (19.37%)

Historical Rents in 97301, Salem, OR

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near 97301

There are a total of 1 cities nearby 97301. The average rent in 97301 is currently $1,325 per month. Our records show that Salem, OR, with an average rent of $1,325, is the most affordable city nearby. In contrast, the most expensive city near 97301, Salem, OR is Salem, OR. Monthly rents here are on average $1,325 per month.

Let's compare 97301, Salem, OR's rent against other top cities nearby by bedroom size. Typically, rent for studios in 97301, Salem, OR is 2.33% more expensive than other cities nearby. One bedrooms are about 0.23% more expensive. Two bedrooms in 97301, Salem, OR are about 2.39% more affordable. Finally, rent for three bedrooms are about 12.14% more affordable. Want more information? Check out the top 1 cities near 97301, Salem, OR in the following chart.
City Studio 1 Bed 2 Bed All
Salem, OR $1,050 $1,098 $1,395 $1,325

Top Neighborhoods Near 97301



View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All

Top Counties Near 97301



We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All

Top Zipcodes Near 97301



You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All

Frequently Asked Questions - 97301 Average Rents

What is the average rent price in 97301, Salem, OR?
The average monthly rental price for 97301, Salem, OR apartments for rent is approximately $1,225. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do 97301, Salem, OR rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 97301, Salem, OR.
How much is a studio apartment in 97301, Salem, OR?
The average monthly rental price for studio apartments is $1,075 and an average price per square feet of $2.60. There are a total of 7 studio apartment listings currently available for rent in 97301.
How much is a one bedroom apartment in 97301, Salem, OR?
The average monthly rental price for one bedroom apartments is $1,100 and an average price per square feet of $1.86. There are a total of 33 one bedroom apartment listings currently available for rent in 97301.
How much is a two bedroom apartment in 97301, Salem, OR?
The average monthly rental price for two bedroom apartments is $1,363 and an average price per square feet of $1.59. There are a total of 38 two bedroom apartment listings currently available for rent in 97301.
How have rent prices in 97301, Salem, OR changed this year?
Rent prices for rentals in 97301, Salem, OR can fluctuate yearly. Specifically, studio rental prices have changed by -0.50%, one bedroom rental prices have changed by 0.02%, two bedroom rental prices have changed by 0.01%, and three bedroom rental prices have changed by -0.13% year-over-year.
What is a reasonable rent price in 97301, Salem, OR?
A reasonable rent price in 97301, Salem, OR is around $980/month. You can search for these reasonably priced rental listings on RentHop.
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