Average Rent in Salem, MA

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Current Versus Historical Salem, MA Rents

Salem rentals average $1,300 for a studio rental to $3,248 for a 3-bedroom rental. The median price of all currently available listings is $2,775, or roughly $3 per square feet.

For the apartment units and housing in December 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $125 (-7.69%) year-over-year from $1,625 to $1,500. 1-bedroom rentals prices have decreased by $87 (-4.41%) year-over-year from $1,967 to $1,880. 2-bedroom rentals prices have increased by $67 (2.63%) year-over-year from $2,533 to $2,600. 3-bedroom rentals prices have decreased by $832 (-21.71%) year-over-year from $3,832 to $3,000. 4-bedroom rentals prices have decreased by $1,133 (-24.46%) year-over-year from $4,633 to $3,500. 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 10.80% this month. 1-bedroom rents have gone down by 1.10% this month. 2-bedroom rents have gone up by 3.35% this month. 3-bedroom rents have gone down by 5.26% this month. 4-bedroom rents have gone down by 5.41% this month.

Beds	Price / Sqft	Dec 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.65	$1,500	$1,625 (-7.69%)	$1,925 (-22.08%)
1 BR	$3.17	$1,880	$1,967 (-4.41%)	$1,666 (12.86%)
2 BR	$2.74	$2,600	$2,533 (2.63%)	$2,323 (11.91%)
3 BR	$2.59	$3,000	$3,832 (-21.71%)	$3,107 (-3.45%)

Historical Rents in Salem, MA

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Salem

There are a total of 4 cities nearby Salem. The average rent in Salem is currently $2,588 per month. A total of 3 cities nearby have an average rent lower than that. Our records show that Lynn, MA, with an average rent of $1,980, is the most affordable city nearby. In contrast, the most expensive city near Salem, MA is Medford, MA. Monthly rents here are on average $3,000 per month.

Let's compare Salem, MA's rent against other top cities nearby by bedroom size. Typically, rent for studios in Salem, MA is 38.65% more expensive than other cities nearby. One bedrooms are about 6.67% more expensive. Two bedrooms in Salem, MA are about 0.47% more affordable. Finally, rent for three bedrooms are about 3.40% more expensive. Want more information? Check out the top 4 cities near Salem, MA in the following chart.

City	Studio	1 Bed	2 Bed	All
Lynn, MA	$1,595	$1,900	$2,500	$1,980
Revere, MA	$1,600	$2,300	$2,700	$2,500
Malden, MA	N/A	$2,100	$2,675	$2,675
Medford, MA	N/A	$2,100	$2,650	$3,000

Top Neighborhoods Near Salem

View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Salem

Some of these counties include Lynn, MA, Revere, MA, and Malden, MA. The average rent for rentals in these counties is $2,675. That's roughly around $3 per sqft. A total of 4 counties have a lower average rent. The county that is the most affordable is Lynn, MA. It's average rent per month is $1,980. Vice versa, with an average rent of $3,000, Medford, MA is the most expensive county by Salem, MA.

Typically, rent for studios in Salem, MA is on par with the other counties nearby. In comparison, rent for one bedroom listings in Salem, MA is 6.67% more expensive than other counties nearby. Finally, rent for two bedrooms in Salem, MA is on par with the other counties nearby. We've listed all of these counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Lynn, MA	$1,595	$1,900	$2,500	$1,980
Revere, MA	$1,600	$2,300	$2,700	$2,500
Malden, MA	N/A	$2,100	$2,675	$2,675
Salem, MA	$1,300	$2,250	$2,650	$2,775
Medford, MA	N/A	$2,100	$2,650	$3,000

Top Zipcodes Near Salem

You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All

Frequently Asked Questions - Salem Average Rents

What is the average rent price in Salem, MA?

The average monthly rental price for Salem, MA apartments for rent is approximately $2,775. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Salem, MA 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 Salem, MA.

How much is a studio apartment in Salem, MA?

The average monthly rental price for studio apartments is $1,300 and an average price per square feet of $3.65. There are a total of 2 studio apartment listings currently available for rent in Salem.

How much is a one bedroom apartment in Salem, MA?

The average monthly rental price for one bedroom apartments is $2,250 and an average price per square feet of $3.17. There are a total of 10 one bedroom apartment listings currently available for rent in Salem.

How much is a two bedroom apartment in Salem, MA?

The average monthly rental price for two bedroom apartments is $2,650 and an average price per square feet of $2.74. There are a total of 27 two bedroom apartment listings currently available for rent in Salem.

How have rent prices in Salem, MA changed this year?

Rent prices for rentals in Salem, MA can fluctuate yearly. Specifically, studio rental prices have changed by -0.08%, one bedroom rental prices have changed by -0.04%, two bedroom rental prices have changed by 0.03%, and three bedroom rental prices have changed by -0.22% year-over-year.

What is a reasonable rent price in Salem, MA?

A reasonable rent price in Salem, MA is around $2,220/month. You can search for these reasonably priced rental listings on RentHop.