Salem Oregon Residential Rent and Rental Statistics
The median monthly gross residential rent in Salem, OR (the Salem metro area) was $1,083 in 2019 according to the Census ACS survey.1 Average gross rent in Salem was $1,091 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Salem median and average rent data will be released in September of 2021.
Data is also available below for Salem rental vacancy rates, Salem rent as a percent of median income and the fraction of renters in Salem.
Real Gross Rent in Salem Oregon (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Oregon Median Gross Rent | $1,185 | +3.04% | +11.48% |
| Salem, OR Median Gross Rent | $1,083 | +5.76% | +15.95% |
Salem, OR Real Gross Rent Trends
At $1,083, real median gross rent in Salem was at its highest level in 2019 since the series began in 2005. At $1,091, real average gross rent in Salem was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Salem: Salem OR Median, Salem OR Average, Oregon Median, US Median
Real Gross Rent History for Salem
| Date | US Median |
Oregon Median |
Salem, OR Median |
Salem, OR Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,185 | $1,083 | $1,091 |
| 2018 | $1,077 | $1,150 | $1,024 | $1,042 |
| 2017 | $1,043 | $1,113 | $997 | $1,048 |
| 2016 | $1,027 | $1,063 | $934 | $1,004 |
| 2015 | $1,017 | $1,000 | $867 | $896 |
| 2014 | $986 | $976 | $826 | $891 |
| 2013 | $953 | $934 | $778 | $832 |
| 2012 | $940 | $917 | $830 | $861 |
| 2011 | $941 | $907 | $822 | $906 |
| 2010 | $955 | $912 | $853 | $908 |
| 2009 | $960 | $933 | $833 | $865 |
| 2007 | $927 | $873 | $804 | $874 |
| 2005 | $910 | $861 | $789 | $820 |
Salem Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2018 the rental vacancy rate for Salem Oregon was 4.88% according to Census ACS data.
Rental Vacancy Rate in Salem Oregon
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Oregon | 4.00% | -0.35% | +0.83% |
| Salem, OR | — | — | — |
Trends in Salem, OR Rental Vacancy Rate
The rental vacancy rate in Salem peaked in 2017 at 7.30%. Since then it has fallen by 2.42% to 4.88%. Data records for this series originated in 2005.
Rental Vacancy Rate: Salem OR, Oregon, US
Historical Rental Vacancy Rate data for Salem
| Date | US | Oregon | Salem, OR |
|---|---|---|---|
| 2019 | 5.97% | 4.00% | — |
| 2018 | 6.15% | 4.35% | 4.88% |
| 2017 | 6.18% | 3.80% | 7.30% |
| 2016 | 5.89% | 3.17% | 3.36% |
| 2015 | 5.85% | 3.64% | 5.09% |
| 2014 | 6.32% | 3.57% | 3.31% |
| 2013 | 6.49% | 4.45% | 3.14% |
| 2012 | 6.77% | 4.75% | 4.62% |
| 2011 | 7.40% | 5.06% | 6.71% |
| 2010 | 8.17% | 5.60% | 3.81% |
| 2009 | 8.43% | 6.30% | 6.96% |
| 2007 | 7.87% | 5.08% | 5.51% |
| 2005 | 7.74% | 6.39% | 6.86% |
Rent as a Fraction of Income
Using median household income data for Salem, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Salem, median monthly gross rent as a fraction of median household income was 19.78% in 2019 according to the ACS.
Salem Oregon Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Oregon | 21.21% | -0.17% | +0.03% |
| Salem, OR | 19.78% | -1.36% | +0.64% |
Trends in Salem, OR Rent as a Fraction of Income
The fraction of median Salem household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 21.15%. Since then it has fallen by 1.36% to 19.78%.
Fraction of Income towards Rent: Salem OR, Oregon, US
Historical Data for Annual Rent as a Fraction of Income in Salem Oregon
| Date | US | Oregon | Salem, OR |
|---|---|---|---|
| 2019 | 20.03% | 21.21% | 19.78% |
| 2018 | 20.50% | 21.38% | 21.15% |
| 2017 | 20.13% | 21.50% | 20.66% |
| 2016 | 20.43% | 21.17% | 19.15% |
| 2015 | 20.63% | 20.90% | 18.69% |
| 2014 | 20.89% | 21.71% | 18.95% |
| 2013 | 20.78% | 21.18% | 18.78% |
| 2012 | 20.65% | 21.04% | 20.50% |
| 2011 | 20.70% | 21.53% | 20.00% |
| 2010 | 20.50% | 21.03% | 20.09% |
| 2009 | 20.12% | 20.28% | 19.53% |
| 2007 | 18.66% | 18.30% | 18.77% |
| 2005 | 18.89% | 19.25% | 17.49% |
Renter Fraction in Salem Oregon
You can calculate the renter fraction in Salem in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Salem as a fraction of total Salem households. In 2019 36.12% of households were renters according to Census ACS data.
Salem Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Oregon | 37.12% | -0.39% | -1.19% |
| Salem, OR | 36.12% | -4.18% | -3.55% |
Trends in the Salem, OR Renter Fraction
The Salem household renter fraction peaked in in 2011 at 40.77% and is now 4.65% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Salem OR, Oregon, US
History of Salem Renter Fraction
| Date | US | Oregon | Salem, OR |
|---|---|---|---|
| 2019 | 35.89% | 37.12% | 36.12% |
| 2018 | 36.05% | 37.51% | 40.30% |
| 2017 | 36.13% | 37.20% | 38.49% |
| 2016 | 36.88% | 38.31% | 39.67% |
| 2015 | 36.97% | 38.91% | 39.89% |
| 2014 | 36.90% | 39.28% | 39.61% |
| 2013 | 36.50% | 39.17% | 40.53% |
| 2012 | 36.09% | 38.44% | 37.50% |
| 2011 | 35.42% | 39.22% | 40.77% |
| 2010 | 34.65% | 37.45% | 37.44% |
| 2009 | 34.13% | 36.95% | 37.02% |
| 2007 | 32.80% | 35.41% | 37.07% |
| 2005 | 33.10% | 36.22% | 36.65% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
