How many apartments are available in South Gateway on Rentable.co?

Rentable.co has over 34 apartments available near South Gateway.

What is the average rent for a studio apartment in South Gateway?

The average rent for a studio apartment near South Gateway is around $152 per month.

What is the average rent for a one-bedroom apartment in South Gateway?

The average rent for a one-bedroom apartment near South Gateway is around $1,325 per month.

What is the average rent for a two-bedroom apartment in South Gateway?

The average rent for a two-bedroom apartment near South Gateway is around $1,575 per month.

How many apartments are available in Salem, OR on Rentable.co?

Rentable.co has over 6,057 apartments available in Salem.

What is the average rent for a studio apartment in Salem, OR?

The average rent for a <a href='/salem-or/studio-apartments-for-rent' >studio apartment</a> in Salem is around $1,000 per month.

What is the average rent for a one-bedroom apartment in Salem, OR?

The average rent for a <a href='/salem-or/1-bedroom-apartments-for-rent' >one-bedroom apartment</a> in Salem is around $1,310 per month.

What is the average rent for a two-bedroom apartment in Salem, OR?

The average rent for a <a href='/salem-or/2-bedroom-apartments-for-rent' >two-bedroom apartment</a> in Salem is around $1,500 per month.

How expensive is it to rent an apartment in Salem, OR?

For a two-bedroom apartment in Salem, the average rent price is $1,500 per month, which is lower than the national average of $1,620 per month.

Can I afford an apartment for rent in Salem, OR?

Based on average rent prices in Salem, to afford a <a href='/salem-or/studio-apartments-for-rent' >studio apartment</a> you would need an annual household income of $40,000 to live comfortably.

Apartments in South Gateway Salem

Salem:
May Rent Report

Welcome to the May 2024 Salem Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 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.

Monthly Rent Report

$1,600

$1,200

$800

$400

Jun. 2023

Jul. 2023

Aug. 2023

Sep. 2023

Oct. 2023

Nov. 2023

Dec. 2023

Jan. 2024

Feb. 2024

Mar. 2024

Apr. 2024

May. 2024

1 BR 2 BR

Salem Rent Prices Decrease From April to May

Salem rent prices decreased over the last month. From April to May, the city experienced a -1.97% decrease for the price of a one-bedroom apartment. The rent price for a Salem one-bedroom apartments currently stands at $1,342.0.

When we take a look at the two-bedroom comparison from April to May, Salem experienced a -0.81% decrease for the price of a two-bedroom apartment. The rent price for a Salem two-bedroom apartments currently stands at $1,469.0.

May Prices: Salem vs. Surrounding Areas

Independence, OR

Woodburn, OR

Molalla, OR

Salem, OR

McMinnville, OR

Keizer, OR

Monmouth, OR

$1,619

$1,497

$1,371

$1,369

$1,311

$1,304

$803

$550

$1,100

$1,650

$2,200

Median 1 BR Rent

Rent Prices in Salem and Surrounding Areas

Rent prices have decreased 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 3 of the Salem suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rent increased in Keizer, OR, Molalla, OR, Independence, OR .
Rent decreased in Woodburn, OR, McMinnville, OR, Monmouth, OR.
3 suburbs are currently priced higher than the city of Salem.
3 suburbs are currently priced lower than the city of Salem.

May 2024 Pricing Trends: Salem vs. National Comparisons

New York, NY

San Francisco, CA

Washington, DC

Los Angeles, CA

Chicago, IL

Salem, OR

Columbus, OH

Minneapolis, MN

Pittsburgh, PA

$4,056

$3,039

$2,377

$2,336

$1,913

$1,369

$1,300

$1,283

$1,178

$1,350

$2,700

$4,050

$5,400

Median Rent

Salem Rent Prices More Affordable Than Major Cities

Rent growth in Salem over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Salem average rent prices appear to be relatively affordable for local residents.

The price for a Salem one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Salem and surrounding area rent prices, take a look at the complete data set below.

Data set for Salem and suburbs

	1 BR May	1 BR M/M % Change	2 BR May	2 BR M/M % Change
Salem, OR	$1,369.0	0.22%	$1,481.0	-0.87%
Woodburn, OR	$1,497.0	-3.11%	$1,728.0	-1.03%
Keizer, OR	$1,304.0	2.84%	$1,479.0	-0.61%
McMinnville, OR	$1,311.0	-0.83%	$1,546.0	1.98%
Molalla, OR	$1,371.0	6.36%	$1,705.0	-0.93%
Monmouth, OR	$803.0	-9.67%	$1,443.0	-0.55%
Independence, OR	$1,619.0	0.56%	$1,705.0	-4.27%

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.