Rentometer, Inc. | Data as of 12/04/2025
Salem, Massachusetts blends historic charm with vibrant urban living, making it a soughtâafter destination for renters. The cityâs waterfront district offers easy access to the scenic Salem Harbor, while downtown is packed with boutique shops, lively cafĂŠs, and cultural attractions such as the Salem Witch Museum and the Peabody Essex Museum. A variety of neighborhoodsâfrom the treeâlined streets of Chestnut Hill to the eclectic vibe of North Salemâprovide residents with distinct lifestyles, whether they prefer a quiet residential setting or a walkable, entertainmentârich environment.
The local rental market reflects this diversity, featuring a mix of modern apartments and classic New England homes. Studios typically start in the $1800s, offering compact, wellâmaintained spaces ideal for young professionals and students. Larger units, including twoâ and threeâbedroom apartments as well as threeâbedroom houses, command higher rates, with premium properties exceeding $3000, especially in soughtâafter locations close to downtown amenities and historic districts.
Renters can choose from contemporary highârise buildings near the harbor, providing onâsite fitness centers and rooftop decks, or historic homes nestled within leafy streets that showcase original architectural details. Proximity to reputable schools, public transportation hubs, and major employment centers further enhances Salemâs appeal, making it a balanced choice for families, couples, and individuals seeking a blend of convenience, culture, and coastal charm.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,822 | $1,800 | $1,610 - $2,220 | $1,610 - $1,920 |
| Apartment | 1 Bedroom | $2,046 | $2,160 | $850 - $2,985 | $1,500 - $2,500 |
| Apartment | 2 Bedroom | $2,874 | $2,812 | $975 - $6,437 | $2,525 - $3,125 |
| Apartment | 3 Bedroom | $3,131 | $3,000 | $2,400 - $4,705 | $2,850 - $3,200 |
| Apartment | 4+ Bedroom | $3,650 | $4,000 | $2,950 - $4,000 | $2,950 - $4,000 |
| House | 3 Bedroom | $3,643 | $3,882 | $1,980 - $4,500 | $3,800 - $4,000 |
In the current period, the average rent in Salem was $1,823 for Studio, $2,044 for 1 Bedroom, $2,875 for 2 Bedroom, $3,295 for 3 Bedroom, and $3,475 for 4+ Bedroom.
Data provided by Rentometer, Inc.