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City Report · VA

Salem

Pop. 25,618·64th most expensive in Virginia·Salem rents are up 13.3% over the past year
Median rent (all units)
$1,621/mo
Year-over-Year
+13.3%
Month-over-Month
+5.5%
vs US Median
-$341
Rising (Monthly)
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Most AffordableMost Expensive
Salem · $1,621
More affordable than 68% of US cities · National median $1,962/mo
Affordability
29% of income
AFFORDABLE
0%30% benchmark60%+

At $1,621/mo, rent takes about 29% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$65,000/yr
Local median income
$66,725/yr
Based on the 30%-of-income rule using Salem's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$960
1 BR
$1,020
2 BR
$1,230
3 BR
$1,720
4 BR+
$2,030
Fair Market Rent (HUD)
$1,230/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,621 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$19,452/yr
At $1,621/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 13.3% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+13.3% YoY, +5.5% MoM), not inventory.
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Demographics

Who lives here

Salem, VA is majority owner-occupied, 33% of residents hold a bachelor's degree or higher.

Population
25,618
Median income
$66,725
Median age
40
Renters
37.2%
Age distribution
19.5%
24.7%
23.2%
13%
19.6%
Under 1819.5%
18–3424.7%
35–5423.2%
55–6413%
65+19.6%
Gender
47.6%
52.4%
Male47.6%
Female52.4%
Race & ethnicity
82.5%
White82.5%
Black8.7%
Hispanic4.8%
Asian2%
Other2.1%
Education (25+)
29.5%
31.6%
33%
No HS diploma5.8%
HS diploma29.5%
Some college31.6%
Bachelor's+33%
Housing tenure
62.8%
37.2%
Owner62.8%
Renter37.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Salem, VA has changed in 5 years

Income
$66,472 → $66,725
up 0.4%
Population
25,335 → 25,618
up 1.1%
Renter share
34.6% → 37.2%
+2.6 pts
Bachelor's+
32.2% → 33%
+0.8 pts
Median age
40.8 → 40
-0.8 yrs

Household income in the area moved from $66,472 to $66,725 across the same window, up 0.4% versus 2021. The population has grown by 1.1% since 2021, moving from about 25,335 residents to roughly 25,618. Renters now make up 37.2% of households, compared with 34.6% five years ago.

Community

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View Salem rent history (2015–2026) →
Salary vs rent

Can you afford rent in Salem on your salary?

At $1,621/mo, how Salem rent compares to typical pay (30% rule).

By apartment size

Salem rent by bedroom count

Median rent for each apartment size in Salem. Click any size for full breakdown.

Local insights

Tips for renters in Salem

About renting in Salem, VA

Last updated: August 17, 2026

The median rent in Salem is $1,621/mo as of August 2026. A studio apartment averages $960/mo while a 2-bedroom runs $1,230/mo. One-bedroom apartments average $1,020/mo and 3-bedroom units go for $1,720/mo.

At 29% of local median household income ($66,725/yr), Salem ranks as affordable compared to the national benchmark of 30%. Rents have increased 13.3% over the past year.

FAQ

Frequently asked questions

Is Salem an affordable city for renters?

Salem is considered affordable for renters. At $1,621/mo, rent takes approximately 29% of the local median household income ($66,725/yr). The standard benchmark is 30%. Salem falls comfortably within that range.

How much income do you need to rent in Salem?

To keep rent at or below 30% of gross income, you would need to earn at least $65,000/year (~$31/hour full-time) to afford the median rent of $1,621/mo in Salem. The local median household income is $66,725/yr, meaning the typical Salem household meets that threshold.

Is rent going up or down in Salem?

Rent in Salem has increased 13.3% over the past year as of August 2026, putting upward pressure on renter budgets.

How does Salem rent compare to other cities in Virginia?

Salem is one of the more affordable cities in Virginia for rent, ranking #64 out of 83 tracked cities at $1,621/mo.

Which nearby cities are cheaper to rent in than Salem?

Several nearby cities have lower median rents than Salem ($1,621/mo): Martinsville ($883/mo), Roanoke ($1,401/mo), Radford ($1,467/mo).

What percentage of Salem residents rent vs. own?

According to Census data, approximately 37.2% of Salem households are renters, while 62.8% are owner-occupied. Salem leans toward homeownership, which can mean a smaller rental inventory.

How does Salem rent compare to the national average?

Salem's median rent of $1,621/mo is $341 (17%) below the US national median of $1,962/mo. Within Virginia, it ranks #64 out of 83 tracked cities.
Income Affordability
29%
AFFORDABLE

At $1,621/mo, rent takes ~29% of Salem's median household income ($66,725/yr). The standard benchmark is 30%.

Salem 29%Benchmark 30%
State income tax2–5.75%
Run the Salem affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Salem, VA

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