Salem, Massachusetts Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Salem, Massachusetts rental market.
Salem, Massachusetts
Average Apartment Rent
$2,769
Y-o-Y Change in Average
Apartment Rent
1.5%
As of May 2026
Compared to a year ago, Salem, Massachusetts apartments have recorded a 1.5% rent increase.
Salem, Massachusetts Average apartment rent trend
Salem, Massachusetts Average Apartment Rent
Salem, Massachusetts Apartment rent ranges
At 42.33%, apartments priced $2,500 - $3,000 represent the bulk of Salem, Massachusetts rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 4.28%.
Salem, Massachusetts Housing tenure**
Renters take up 49% of Salem, Massachusetts real estate, occupying a total of 9,810 units, while homeowners live in 10,077 properties.
Median number of rooms of renter-occupied housing units**
3.9
Renter median household income**
$54,871
Average household size of renter-occupied housing units**
2.02
Rental vacancy rate**
1.7%
Salem, Massachusetts Renter-occupied housing units by no. of bedrooms**
There are 3,757 rentals in Salem, Massachusetts with 2 beds making up the highest share of the market, at 38%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 69 units. Overall, the median number of rooms in Salem, Massachusetts homes for rent is 3.9.
Salem, Massachusetts Renter-occupied units by age of householder**
Most condos for rent in Salem, Massachusetts are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 35 - 44 years age group (17%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Salem, Massachusetts Renter-occupied housing units by family type**
Salem, Massachusetts Renter-occupied housing units by the presence of own children**
A total of 4,230 apartments for rent in Salem, Massachusetts, or 43% of all rentals are family households. Additionally, 24% of rental homes include children under the age of 18 – that’s 2,312 units. All in all, the median size of a renter-occupied household in Salem, Massachusetts is 2.02.
Salem, Massachusetts Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 37% of the rental market. In contrast, residents with less than a high school degree reside in 15% of the homes for rent in Salem, Massachusetts.
Salem, Massachusetts Renter-occupied units by year structure built**
The highest share of Salem, Massachusetts apartment rentals, namely 46% or 4,523 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (12%, 1,204 units), and the ones Built 2000 - 2009 (10%, 983 units).
Salem, Massachusetts Renter-occupied units by year householder moved in**
Median year renter moved into unit 2015
Most Salem, Massachusetts renters (46%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Salem, Massachusetts condos for rent is 2015.
Salem, Massachusetts Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of Salem, Massachusetts renters have 1 vehicle available per household, 28% of them have No vehicle available, and 22% have 2 vehicles available.
Salem, Massachusetts Means of transportation to work of householders living in renter-occupied housing units**
Salem, Massachusetts Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Salem, Massachusetts apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
