Foreclosure Homes in Salem, OR

Current Market Conditions in Salem, OR

The real estate market in Salem has seen significant growth in recent years, especially due to the city's affordability compared to nearby Portland. With an influx of new residents from pricier areas, property values have been steadily rising, leading to a competitive market for potential homebuyers.

Rental properties also remain in high demand, particularly in central Salem and near the university, reflecting the city's appeal to both families and students. Many neighborhoods are experiencing revitalization, making them attractive for investment as the market continues to expand.

Rent Prices In Salem, OR

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Salem, OR, is on a rollercoaster ride. The average rent price in Salem, OR, is $1,268.00. Indeed, when looking to rent in Salem, OR, you can expect to pay as little as $630.00 or as much as $3,940.00, with the average rent median estimated to be $1,220.00. The good news is that finding an affordable and desirable property to rent in Salem, OR -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.