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ZIP Code · OR

ZIP 97304

Part of Salem, OR
Pop. 34,879·Polk County·33rd most expensive ZIP in Oregon
Median rent (all units)
$1,855/mo
Year-over-Year
+7.5%
Month-over-Month
+3.8%
vs US Median
-$110
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 97304 · $1,855
More expensive than 52% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,470
1 BR
$1,580
2 BR
$1,800
3 BR
$2,470
4 BR+
$2,900
Research median
$1,800/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: July 20, 2026

Annual cost
$22,260/yr
At $1,855/mo median
Location
CitySalem
StateOR
CountyPolk County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.5% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.5% YoY, +3.8% MoM), not inventory.
Demographics

Who lives here

ZIP 97304 (Salem, OR) is majority owner-occupied, has a median income above the national average, 39.1% of residents hold a bachelor's degree or higher.

Population
34,879
Median income
$98,031
Median age
39
Renters
35.7%
Age distribution
24.4%
18.7%
26.4%
19.7%
Under 1824.4%
18–3418.7%
35–5426.4%
55–6410.9%
65+19.7%
Gender
50.4%
49.6%
Male50.4%
Female49.6%
Race & ethnicity
79%
White79%
Black0.7%
Hispanic11.9%
Asian3.7%
Other4.8%
Education (25+)
19.5%
34.2%
39.1%
No HS diploma7.2%
HS diploma19.5%
Some college34.2%
Bachelor's+39.1%
Housing tenure
64.3%
35.7%
Owner64.3%
Renter35.7%

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

2021 vs 2026

How ZIP 97304 in Salem, OR has changed in 5 years

Income
$79,346 → $98,031
up 23.5%
Population
33,846 → 34,879
up 3.1%
Renter share
34.7% → 35.7%
+1.0 pts
Bachelor's+
39.7% → 39.1%
-0.6 pts

Household income in the area moved from $79,346 to $98,031 across the same window, up 23.5% versus 2021. The population has grown by 3.1% since 2021, moving from about 33,846 residents to roughly 34,879.

Community

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Local insights

Tips for renters in ZIP 97304

About renting in ZIP 97304

Last updated: July 20, 2026

ZIP code 97304 covers Salem, OR. The median rent here is $1,855/mo as of July 2026. A 1-bedroom rents for a median of $1,580/mo. A 2-bedroom rents for a median of $1,800/mo.

At 23% of local median household income ($98,031/yr), ZIP 97304 ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 97304?

As of July 20, 2026, the median monthly rent in ZIP 97304 (Salem, OR) is $1,855. This is based on aggregated data from public sources and community submissions.

How does ZIP 97304 rent compare to the US average?

ZIP 97304's median rent of $1,855/mo is $110 (6%) below the US national median of $1,965/mo.

How does ZIP 97304 compare to other ZIPs in Oregon?

ZIP 97304 is one of the pricier ZIP codes in Oregon, ranking #33 out of 116 ZIPs tracked at $1,855/mo.

How much income do you need to rent in ZIP 97304?

To keep rent at or below 30% of gross income, you would need to earn at least $74,000/year (~$36/hour full-time) to afford the median rent of $1,855/mo in ZIP 97304. The local median household income is $98,031/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 97304?

Rent in ZIP 97304 has increased 7.5% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 97304 an affordable place to rent?

ZIP 97304 is considered very affordable for renters. At $1,855/mo, rent takes approximately 23% of the local median household income ($98,031/yr). The standard benchmark is 30%. ZIP 97304 falls comfortably within that range.

What percentage of ZIP 97304 residents rent vs. own?

According to Census data, approximately 35.7% of ZIP 97304 households are renters, while 64.3% are owner-occupied. ZIP 97304 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 97304 compare to the rest of Salem?

ZIP 97304 is pricier than Salem as a whole. At $1,855/mo, it's $270 above the Salem citywide median of $1,585/mo.

When was rent data for ZIP 97304 last updated?

Rent data for ZIP 97304 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $1,855/mo, rent takes ~23% of ZIP 97304's median household income ($98,031/yr). The standard benchmark is 30%.

ZIP 97304 23%Benchmark 30%
State income tax4.75–9.9%
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Schools nearby

Public schools near ZIP 97304 (Salem, OR)

Recent submissions

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