Cheap Apartments for Rent in Salem, MA from $900 (20 Rentals)

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143 Canal St
2 Bedroom Apartments

143 Canal St

143 Canal StSalem, MA 01970
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University Square
Studio to 2 Bedroom Apartments

University Square

136 Canal StSalem, MA 01970
  • Utilities Inc.
property at 585 Essex St

585 Essex St

LynnMA01901

Boston's Best Affordable Neighborhoods

Learn about Boston and the best places to live around the area with original content written by our Boston, MA Local Expert Amelia Ramstead

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2 Main Street
Studio Apartments

2 Main Street

2 Main StPeabody, MA 01960
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Cobbet Hill
1 Bedroom Apartments

Cobbet Hill

498 Essex StLynn, MA 01902
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Jaclen Tower
1 to 2 Bedroom Apartments

Jaclen Tower

215-221 Rantoul StBeverly, MA 01915
Senior Living
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Floating Bridge Pond
2 Bedroom Apartments

Floating Bridge Pond

627-631 Eastern AveLynn, MA 01902
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Salem, MA Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Salem, MA

Pricing Updated: 03/15/2025

Current apartment rentals in the Salem, MA area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Salem Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
North Salem$3,025$1,350430
North Shore$3,500$1,05015538

Cheapest Available Salem Apartments for Rent

 

The cheapest available apartment rental in Salem, MA is a Studio unit found at THE ESSEX in the Central neighborhood priced from $1,550. BayView Apartments in the East Lynn neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,600. Here is today’s list of the most affordable Salem apartments for rent:

Apartment ListingModel NameBed/BathPriced From
THE ESSEX0BR/1.0BAStudio,1BA$1,550
BayView Apartments66 Studio ClassicStudio,1BA$1,600
The Vault0BR/1.0BAStudio,1BA$1,800
Peabody Place, LLC.1BR/1.0BA1BR,1BA$1,899
The Oxford Lynn1 Bed - 061BR,1BA$1,950

Best Value Apartments for Rent in Salem, MA

As of March 16, 2025 the best value apartment in the Salem area is the $0.22 price per square foot 2BR/1.0BA Model at THE ESSEX in the in the Central neighborhood starting from $2,225. The second greatest value Salem apartment is the 150 Allen Ave Model at 150 Allen Ave, Unit 1 starting at $2,900 with a $1.87 price per square foot in the Central neighborhood. Here is today’s list of the best values for Salem apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
THE ESSEX2BR/1.0BA2BR,1BA$0.22
150 Allen Ave, Unit 1150 Allen Ave3BR,3BA$1.87
7 Hancock St, Unit 17 Hancock St3BR,1BA$2.07
23 Gardner St23 Gardner St2BR,1BA$1.86
Bell North ShoreB2D2BR,2BA$2.49
Eagle Rock Apartments at SwampscottB12BR,2BA$2.43
73 School St, Unit #373 School St2BR,1BA$2.00
56 Broad St, Unit #256 Broad St1BR,1BA$2.10
9 Carlton St, Unit #39 Carlton St2BR,1BA$2.20
8 Nahant Pl, Unit #3018 Nahant Pl1BR,1BA$2.47

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Salem Overview

Salem has the feel of a small, compact town. Here, friendly residents celebrate together in the summer and stick together during blustery winters. This town's rich history and placement near Boston makes it a great place for both city commuters and people longing for a quieter life.

Why live in Salem, MA?

Salem has a reputation as a great home for young, energetic people. They come for Salem State University and stay for the creative scene, exciting history, and dynamic local businesses. However, this city also has a lot to offer busy professionals and families. It's close enough to commute to Boston, but decidedly more budget-friendly than the big city. Salem boasts a gorgeous waterfront, numerous museums and galleries, and centuries of history lying around every corner just waiting to be explored. Salem has a magic that turns visitors into residents, and residents into longtime locals.

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Salem, MA Rentals by Map

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Getting Around Salem, MA

Walk Score®

84 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

62 / 100

Bikeable

Some bike infrastructure

Transit Score®

34 / 100

Some Transit

A few nearby public transportation options

Frequently Asked Questions about Cheap Salem Apartments

What is the Cheapest Studio apartment in Salem?

Currently the most affordable Cheap Studio Apartment in Salem is at THE ESSEX listed at $1,550.

How much is rent for a Cheap One Bedroom Salem Apartment?

The lowest price for a Cheap One Bedroom Salem Apartment is $1,795 at THE ESSEX.

What is the lowest price for a Cheap Two Bedroom Salem Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Salem is starting from $2,225 at THE ESSEX.

What is the most affordable Salem Three Bedroom Apartment?

The best deal on a cheap Salem Three Bedroom Apartment rental is at The Landing at Vinnin Square and starts from $4,114.

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.

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The 10 Best Affordable Neighborhoods in Boston, MA

Written by: Amelia Ramstead

Boston is known for its exciting combination of early American history and modern high-tech universities and employers.

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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.

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What to Know About Fees and Fines When Renting

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When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

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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.