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Example household · $83,730 · same pay · 1 adult

Salem

Housing in Salem, OR: Rent, Home Prices & Property Tax

$1,643 left/mo

$1,270/mo (1 bd) in Salem. Median home $389,800. Property tax 0.88%.

Pick a home cityHow we figure this
Rent (1-bedroom)
$1,270
/mo
Buy
$2,768
Mortgage, tax, insurance
Buying costs more
$1,498
/mo

To buy

  • 20% down payment$77,960
  • Mortgage at 7.24%$2,125
  • Property tax (0.88% of value)$286/mo · $3,430/yr
  • Insurance and upkeep$357
  • Monthly total$2,768

Months to 20% down

$1,643 left each month. About 48 months (4.0 years) to save $77,960.

Rent is Zillow asking rent. The price is the Census median home value. The mortgage is a 30-year fixed at 7.24%, the Freddie Mac PMMS average for the week of Oct 29, 2026, with 20% down.

Guide: state tax and rent when you compare cities

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