Real Estate Investing in Salem, Oregon (97306)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97306 (Salem, OR)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Salem, OR (97306)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97306 Salem
On the rental side, ZIP 97306 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $498K median. It rewards specialists, not generalists.
Put differently, the numbers look inviting — $498K purchase price, 0.0% nominal cap — the work to hit that pro forma in 97306 is substantial and deserves full respect.
Within OR, ZIP 97306 trails on several market indicators that neighboring Marion County submarkets outperform. The gap is real and impressive enough to shape underwriting.
The 97306 ZIP's population of 34,160 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
leans the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Salem:
Property Strategy for 97306
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $351,302 | $1,650 | 3.4% | +4.9% | $175,651 |
| 3BR | $457,404 | $2,280 | 3.6% | +5.6% | $152,468 |
| 4BR | $591,335 | $2,470 | 3.0% | +5.7% | $147,834 |
| 5BR | $669,987 | — | — | +5.7% | $133,997 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97306 Compare?
| Metric | 97306 | Salem | Salem, OR | Oregon |
|---|---|---|---|---|
| Home Value | $498,133 | $256,393 | N/A | $493,884 |
| 5-Year CAGR | 2.7% | 3.0% | N/A | 4.9% |
| Avg Rent | $1,786 | $1,648 | N/A | - |
| Cap Rate | 2.8% | 2.8% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97306 (Salem, OR). Anonymous, moderated, never written by AI.
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Property managers serving Marion County
Manage rentals here? List your business →Evolve Workforce & Multifamily Housing Services. summary from their website
Dalke Property Management, Llc. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $498,133 |
| Monthly Rent | $1,786 |
| Price-to-Rent | 23.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 5.5% |
📈 Home Appreciation
| 1-Year | +1.4% ▲ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +2.7% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 Rent Trends
| 1-Year | -0.1% ▼ |
| 3-Year CAGR | +0.8% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97306
Population: 34,160
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 97306
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,529 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What monthly rent should investors expect in Salem, OR?
Average rent in Salem, OR is approximately $1,786/mo per month. Against $498K home values that yields a reasonable rent-to-price ratio.
What is the typical renter like in Salem, OR?
Tenant quality in Salem, OR ranks as solid. Landlords generally report consistent occupancy at market rents of $1,786/mo.
What type of investing works in Salem, OR?
A careful cash-flow rentals with hands-on management strategy Salem, OR best. The market produces reliable results for that approach at the $498K price point.
Is vacancy a concern in Salem, OR?
Rental vacancy in Salem, OR is elevated. Investors should budget normal turnover but not chronic empty units.
What is the average home sale price in Salem, OR?
Typical homes in Salem, OR go for around $498K. The 5-year CAGR of 0.0% consistent price movement.
You know 97306 now. You don’t know where it ranks.
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How 97306 ranks in Salem, OR
Every ZIP in this metro, ranked. Free.
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