
Cheap Homes for Rent in Salem, IA from $500 (21 Rentals)
Search the lowest-cost Homes available for rent right now in Salem.


304 S 2nd St

109 Roads St

607 NE 3rd Ave

61 Midtown Ln

105 SE 13th St

807 NW 6th St

407-407 SW 8th St

2545 N Co Rd 1740

102 W 2nd St
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

509 SE 4th St

121 S Ash St

311 Todds Ferry Rd

728 Sweeny Ave

308 Ave D

605 W 3rd St

211 W 7th St

116 N 5th St

103 Shields St

14876 Washington Rd

508 Lorenz St
Salem, IA Local Guide

How much does it cost to rent a home in Salem?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Salem 2 Bedroom Homes for Rent | $1,012 | $700 | $1,850 |
Salem 3 Bedroom Homes for Rent | $1,065 | $850 | $1,550 |
Salem 4 Bedroom Homes for Rent | $2,004 | $623 | $2,500 |
Salem 5 Bedroom Homes for Rent | $1,475 | $1,475 | $1,475 |
Browse Top Homes for Rent in Salem
Explore Salem
Salem, IA Local Guide
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Cheapest Available Salem Apartments for Rent and Nearby
 The cheapest available apartment rental in Salem, IA is a Studio unit found at Macomb Rentals priced from $390. Smith and Royer Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $650. Here is today’s list of the most affordable Salem apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Macomb Rentals | Studio, 1 bath | Studio,1BA | $390 |
Smith and Royer Apartments | 1 Bedroom | 1BR,1BA | $650 |
Tisdale Apartments | 2 Bedroom | 2BR,1BA | $650 |
Bel Aire Apartments | 1 Bedroom | 1BR,1BA | $695 |
Park Madison Apartments | 1BR/1BA | 1BR,1BA | $700 |
Best Value Apartments for Rent in Salem, IA and Nearby
As of April 18, 2025 the best value apartment in the Salem area is the $1.28 price per square foot 510 Layne Drive Model at Nexus TownHomes in the in the Ginger Ridge neighborhood starting from $1,275. The second greatest value Salem apartment is the 2BR/1.0BA Model at Orchards & Woodlands starting at $1,100 with a $1.21 price per square foot in the Cottage Hill neighborhood. Here is today’s list of the best values for Salem apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Nexus TownHomes | 510 Layne Drive | 2BR,1BA | $1.28 |
Orchards & Woodlands | 2BR/1.0BA | 2BR,1BA | $1.21 |
School House Apartments | 1 Bedroom and 1 Bath | 1BR,1BA | $0.89 |
Summer Street Apartments | Apartment 1 | 2BR,1BA | $1.00 |
Orchard Lane Apartments | 2BR/1.0BA | 2BR,1BA | $0.96 |
Blaul Lofts | Blaul Lofts - 302 | 1BR,1BA | $1.04 |
Louden Lofts | Two Bedroom | 2BR,2BA | $1.00 |
Park Madison Apartments | 1BR/1BA | 1BR,1BA | $0.93 |
Tisdale Apartments | 2 Bedroom | 2BR,1BA | $0.93 |
Bel Aire Apartments | 2 Bedroom | 2BR,1BA | $1.19 |
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Frequently Asked Questions about Salem
What type of rentals are currently available in Salem?
There are currently 41 Apartments for Rent in Salem, IA with pricing that ranges from $390 to $3,300. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Salem ranging from $550 to $2,500.
What is the current price range for Rental Homes in Salem?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Salem ranges from $550 to $2,500 with an average monthly rent of $1,253.
How much are larger Three and Four Bedroom Rentals in Salem?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Salem range from $695 to $3,300, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $1,550. Four Bedroom Single-Family rentals are also available starting from $623 and Four Bedroom Apartments start at $600.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Understanding Amenity Fees: Know Where You Might Be Able to Save Money
Written by: Amber Kanuckel
With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Written by: Christine Leonard, Esq.
Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

Renting Smart: Lease Basics Every Renter Needs
Written by: Christine Leonard, Esq.
Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting
Written by: Andrea Lee Negroni, JD
While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.