Apartments in Faye Wright Salem

Salem:
December Rent Report

Welcome to the December 2024 Salem Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2024 key findings and figures for the Salem rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Salem and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Salem average rent prices in the chart below.

December Prices: Salem vs. Surrounding Areas

Rent Prices in Salem and Surrounding Areas

Rent prices have increased in Salem over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 4 of the Salem suburbs increased last month. On the other hand, 2 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

• Rent increased in Woodburn, OR, McMinnville, OR, Monmouth, OR, Independence, OR .

• Rent decreased in Keizer, OR, Molalla, OR.

• 3 suburbs are currently priced higher than the city of Salem.

• 3 suburbs are currently priced lower than the city of Salem.

Data set for Salem and suburbs

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.