Average Rent in Salem, MA

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Current Versus Historical Salem, MA Rents

Salem rentals average $1,275 for a studio rental to $0 for a 4-bedroom rental. The median price of all currently available listings is $2,800, or roughly $3 per square feet.

For the apartment units and housing in November 2024, median rents have fallenover the last year. Studio rentals prices have decreased by $108 (-6.74%) year-over-year from $1,608 to $1,500. 1-bedroom rentals prices have decreased by $152 (-7.47%) year-over-year from $2,032 to $1,880. 2-bedroom rentals prices have increased by $158 (6.35%) year-over-year from $2,492 to $2,650. 3-bedroom rentals prices have decreased by $268 (-7.61%) year-over-year from $3,515 to $3,248. 4-bedroom rentals prices have decreased by $933 (-21.05%) year-over-year from $4,433 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 10.00% this month. 1-bedroom rents have gone down by 7.58% this month. 2-bedroom rents have gone up by 0.35% this month. 3-bedroom rents have gone up by 2.04% this month. 4-bedroom rents have gone down by 3.23% this month.

Beds	Price / Sqft	Nov 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.59	$1,500	$1,608 (-6.74%)	$2,038 (-26.39%)
1 BR	$3.37	$1,880	$2,032 (-7.47%)	$1,575 (19.37%)
2 BR	$2.75	$2,650	$2,492 (6.35%)	$2,307 (14.88%)
3 BR	$2.50	$3,248	$3,515 (-7.61%)	$3,107 (4.52%)

Historical Rents in Salem, MA

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Salem

There are a total of 5 cities nearby Salem. The average rent in Salem is currently $2,800 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 $1,950, is the most affordable city nearby. In contrast, the most expensive city near Salem, MA is Medford, MA. Monthly rents here are on average $3,200 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 25.10% more affordable than other cities nearby. One bedrooms are about 16.09% more affordable. Two bedrooms in Salem, MA are about 2.75% more affordable. Finally, rent for three bedrooms are about 6.67% more affordable. Want more information? Check out the top 5 cities near Salem, MA in the following chart.

City	Studio	1 Bed	2 Bed	All
Lynn, MA	$1,595	$1,950	$2,400	$1,950
Revere, MA	$1,650	$2,300	$2,800	$2,500
Malden, MA	N/A	$2,200	$2,850	$2,800
Arlington, MA	N/A	$2,100	$2,800	$2,950
Medford, MA	$1,650	$2,900	$2,725	$3,200

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 Salem, MA. The average rent for rentals in these counties is $2,800. 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 $1,950. Vice versa, with an average rent of $3,200, Medford, MA is the most expensive county by Salem, MA.

Typically, rent for studios in Salem, MA is 12.55% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Salem, MA is 13.46% more affordable than other counties nearby. Finally, rent for two bedrooms in Salem, MA is 1.38% more affordable than 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	$1,950	$2,400	$1,950
Revere, MA	$1,650	$2,300	$2,800	$2,500
Salem, MA	$1,275	$1,895	$2,725	$2,800
Malden, MA	N/A	$2,200	$2,850	$2,800
Arlington, MA	N/A	$2,100	$2,800	$2,950
Medford, MA	$1,650	$2,900	$2,725	$3,200

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 $2,800. 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 $1,275 and an average price per square feet of $3.59. 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 $1,895 and an average price per square feet of $3.37. There are a total of 9 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 $2,725 and an average price per square feet of $2.75. There are a total of 23 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 -0.07%, one bedroom rental prices have changed by -0.07%, two bedroom rental prices have changed by 0.06%, and three bedroom rental prices have changed by -0.08% year-over-year.

What is a reasonable rent price in Salem, MA?

A reasonable rent price in Salem, MA is around $2,240/month. You can search for these reasonably priced rental listings on RentHop.