Receive upcoming SMI Apartment Updates in your email as soon as they are released!
Visit our MultiFamily page for current listings.
SMI Real Estate surveyed 16,239 units total during the month of June 2021. This rent and vacancy apartment survey covers Salem, Keizer, Albany, Lincoln City, and surrounding Willamette Valley communities.
| PRE 1990 ERA | STUDIO | 1BD | 2BD | 3BD |
| Keizer | 879 | 1078 | 1283 | |
| Central Salem | 863 | 879 | 1066 | 1150 |
| North East Salem | 882 | 973 | 1600 | |
| Suburban SE Salem | 850 | 902 | 1100 | 1218 |
| South East Salem | 750 | 900 | 1092 | 1282 |
| South Salem | 740 | 918 | 1204 | 1531 |
| West Salem | 725 | 888 | 1038 | 1428 |
| Average | 837 | 892 | 1075 | 1288 |
| POST 1990 ERA | STUDIO | 1BD | 2BD | 3BD |
| Keizer | 1092 | 1199 | 1445 | |
| Central Salem | 1185 | 1390 | 1814 | 2335 |
| NorthEast Salem | 975 | 1105 | 1161 | 1458 |
| Suburban SE Salem | 900 | 1002 | 1135 | 1377 |
| SouthEast Salem | 1110 | 1132 | 1255 | 1451 |
| South Salem | 998 | 1297 | 1545 | |
| West Salem | 825 | 1214 | 1406 | 1535 |
| Average | 1021 | 1134 | 1251 | 1486 |
| City | STUDIO | 1BD | 2BD | 3BD |
| Albany | 820 | 907 | 1156 | 1382 |
| Stayton | 912 | 922 | 1125 | |
| Aumsville | 1050 | 1395 | ||
| Sublimity | 1075 | |||
| Monmouth | 533 | 759 | 973 | 1081 |
| Independence | 955 | 1086 | 1277 | 1358 |
| Dallas | 884 | 995 | 1368 | |
| Lincoln City | 872 | 1101 | 1128 |
| City | Percent |
| Keizer | 1.2% |
| Central Salem | 4.2% |
| NorthEast Salem | 1.7% |
| Suburban SE Salem | 1.3% |
| SouthEast Salem | 1.7% |
| South Salem | 1.3% |
| West Salem | 2.2% |
| Albany | 2.2% |
| Stayton, Aumsville, Sublimity | 0.5% |
| Dallas, Monmouth, Independence | 1.3% |
| Lincoln City | 1.2% |
Salem
Keizer
3 YEAR
3 YEAR
COVID continues to change the landscape of the Oregon apartment market. Vacancy remains low but economic vacancy paints a darker picture with a high rate of delinquency in 2021. Landlords are grappling with new laws and the eviction moratorium lingers in various forms. Rents on turnover have increased at an incredible rate in Q2 as a result of almost no vacancy. While there is $300MM in government rental assistance in the pipeline, those funds may not arrive for some time. Take this opportunity to invest in your turnovers. Contact SMI as your resource in real estate brokerage, lending, and property management.
Thank you,
Additional resources: Rental Housing Journal | CREXI | LoopNet