ZIP Code · OR

ZIP 97302

Part of Salem, OR

Pop. 40,799·Marion County·105th most expensive ZIP in Oregon

Median rent (all units)

$1,520/mo

Year-over-Year

-1.7%

Month-over-Month

-0.1%

vs US Median

-$412

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 97302 · $1,520

More affordable than 72% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,140

1 BR

$1,150

2 BR

$1,500

3 BR

$2,080

4 BR+

$2,250

Research median

$1,500/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 97302 is 1.9% below its high of $1,549 in March 2026, at $1,520 as of September 2026.

Past year vs. the rest of Oregon

Rent in ZIP 97302 changed -1.7% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent has fallen 6 months in a row, and rose in 2 of the last 12 months.

What a typical income covers

30% of the median household income ($85,833) is $2,146 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,080); a 4-bedroom is $2,250.

Rank in Salem

2nd cheapest of 5 ZIP codes in Salem.

From Zillow's monthly rent index (ZORI) for ZIP 97302. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,240/yr

At $1,520/mo median

Location

CitySalem

StateOR

CountyMarion County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 1.7% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-1.7% YoY, -0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 97302 (Salem, OR) is majority owner-occupied, has a large retiree population, 42.7% of residents hold a bachelor's degree or higher.

Population

40,799

Median income

$85,833

Median age

41.2

Renters

38.5%

Age distribution

21.4%

20.9%

25.2%

21.1%

Under 1821.4%

18–3420.9%

35–5425.2%

55–6411.5%

65+21.1%

Gender

46.8%

53.2%

Male46.8%

Female53.2%

Race & ethnicity

78.4%

13.1%

White78.4%

Black1.8%

Hispanic13.1%

Asian1.6%

Other5.1%

Education (25+)

22.2%

29.3%

42.7%

No HS diploma5.8%

HS diploma22.2%

Some college29.3%

Bachelor's+42.7%

Housing tenure

61.5%

38.5%

Owner61.5%

Renter38.5%

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

2022 vs 2026

How ZIP 97302 in Salem, OR has changed in 5 years

Rent

$1,348 → $1,520

up 12.8%

Income

$73,993 → $85,833

up 16.0%

Population

41,371 → 40,799

down 1.4%

Renter share

38.5% → 38.5%

+0.0 pts

Bachelor's+

41.3% → 42.7%

+1.4 pts

Median age

38.8 → 41.2

+2.4 yrs

Five years ago, renters in ZIP 97302 in Salem, OR paid around $1,348 a month. That figure now sits near $1,520, up 12.8% from the 2022 baseline. Household income in the area moved from $73,993 to $85,833 across the same window, up 16.0% versus 2021. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 97302 in Salem, OR losing about 572 residents over the five-year window, down 1.4% on net. Reading these numbers side by side helps frame whether current listings in ZIP 97302 in Salem, OR look reasonable against where the market sat half a decade ago.

Community

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About renting in ZIP 97302

Last updated: October 17, 2026

ZIP code 97302 covers Salem, OR. The median rent here is $1,520/mo as of October 2026. A 1-bedroom rents for a median of $1,150/mo. A 2-bedroom rents for a median of $1,500/mo.

At 21% of local median household income ($85,833/yr), ZIP 97302 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 1.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97302?

To keep rent at or below 30% of gross income, you would need to earn at least $61,000/year (about $29/hour full-time) to afford the median rent of $1,520/mo in ZIP 97302. The local median household income is $85,833/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97302?

Rent in ZIP 97302 has fallen 1.7% over the past year as of September 2026. It sits 1.9% below its high of $1,549 in March 2026.

How does ZIP 97302 compare to other ZIPs in Oregon?

ZIP 97302 is one of the more affordable among Oregon ZIP codes for rent, ranking #105 of 114 at $1,520/mo. Over the year to September 2026, rent in ZIP 97302 changed -1.7%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.