ZIP Code · OR

ZIP 97306

Part of Salem, OR

Pop. 34,383·Marion County·39th most expensive ZIP in Oregon

Median rent (all units)

$1,871/mo

Year-over-Year

+1.9%

Month-over-Month

+0.4%

vs US Median

-$61

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 97306 · $1,871

More expensive than 54% 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

$1,250

1 BR

$1,270

2 BR

$1,650

3 BR

$2,280

4 BR+

$2,470

Research median

$1,650/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 97306 is at its highest level since Zillow's records here began in December 2021.

Past year vs. the rest of Oregon

Rent in ZIP 97306 changed +1.9% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent has risen 3 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($101,753) is $2,544 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,470).

Rank in Salem

4th cheapest of 5 ZIP codes in Salem.

Cheaper nearby

ZIP 97302, 4 miles away, rents for 19% less ($1,520/mo), about $4,200 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 97306. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$22,452/yr

At $1,871/mo median

Location

CitySalem

StateOR

CountyMarion County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.9% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.9% YoY, +0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 97306 (Salem, OR) is majority owner-occupied, has a median income above the national average, 43.8% of residents hold a bachelor's degree or higher.

Population

34,383

Median income

$101,753

Median age

38.5

Renters

30.7%

Age distribution

22.4%

23.3%

25.9%

12%

16.3%

Under 1822.4%

18–3423.3%

35–5425.9%

55–6412%

65+16.3%

Gender

49.3%

50.7%

Male49.3%

Female50.7%

Race & ethnicity

72.4%

13.8%

White72.4%

Black1.9%

Hispanic13.8%

Asian6.1%

Other5.9%

Education (25+)

18.9%

33%

43.8%

No HS diploma4.3%

HS diploma18.9%

Some college33%

Bachelor's+43.8%

Housing tenure

69.3%

30.7%

Owner69.3%

Renter30.7%

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

2022 vs 2026

How ZIP 97306 in Salem, OR has changed in 5 years

Rent

$1,709 → $1,871

up 9.5%

Income

$75,653 → $101,753

up 34.5%

Population

33,481 → 34,383

up 2.7%

Renter share

35.1% → 30.7%

-4.4 pts

Bachelor's+

41% → 43.8%

+2.8 pts

Since 2022, the typical rent in ZIP 97306 in Salem, OR has increased from $1,709 to $1,871, a 9.5% change over five years. Local incomes tracked alongside that move, going from a median of $75,653 in 2021 to $101,753 more recently. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 2.7% since 2021, moving from about 33,481 residents to roughly 34,383. Renters now make up 30.7% of households, compared with 35.1% five years ago. College-educated residents now make up 43.8% of adults here, versus 41% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 97306 in Salem, OR market of 2022.

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About renting in ZIP 97306

Last updated: October 17, 2026

ZIP code 97306 covers Salem, OR. The median rent here is $1,871/mo as of October 2026. A 1-bedroom rents for a median of $1,270/mo. A 2-bedroom rents for a median of $1,650/mo.

At 22% of local median household income ($101,753/yr), ZIP 97306 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97306?

To keep rent at or below 30% of gross income, you would need to earn at least $75,000/year (about $36/hour full-time) to afford the median rent of $1,871/mo in ZIP 97306. The local median household income is $101,753/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97306?

Rent in ZIP 97306 has risen 1.9% over the past year as of September 2026. That is the highest level since Zillow's records here began in December 2021.

How does ZIP 97306 compare to other ZIPs in Oregon?

ZIP 97306 is in the middle among Oregon ZIP codes for rent, ranking #39 of 114 at $1,871/mo. Over the year to September 2026, rent in ZIP 97306 changed +1.9%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.