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Studio Apartment for Rent in Monmouth, OR

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    $1,045 Per Month

    • Studio
    • 1 Bath
    • 398 Sq Ft
    • Condo for Rent

    291 Clay St W Unit 7, Monmouth, OR 97361

    TERMS:* Rent: $1,045 Total Monthly* Deposit: $1,000 (On Approved Credit)* Application Fee: $68 per Adult (18+)* Tenancy: 1 Year Lease Term* Note: 100% Non-Smoking PropertyIMPORTANT:* INCOME REQ: Must gross 2.5x the regular rent to qualify.UTILITIES:* Included: Garbage* Tenant Paid: Responsible for Water, Sewer, Electric, Gas (If Applicable), and all

    291 Clay St W Unit 7, Monmouth, OR 97361

Why Live in Monmouth

Monmouth, Oregon, nestled in the Willamette Valley wine country, is a quaint college town with a rich history. Once the last dry city on the West Coast until 2002, Monmouth now features an eclectic mix of shops and restaurants along Main Street and Pacific Avenue. The town is home to Western Oregon University, attracting around 3,000 students to its population of 11,000 residents. Housing options include charming cottages, Craftsman homes, midcentury ranch-style houses, and newer traditional builds, all set on wide streets with mature trees and large lots. Local parks like Madrona Park offer grassy lawns, picnic shelters, and playgrounds, while Main Street Park hosts live music and theatrical performances at its outdoor amphitheater. Residents enjoy kayaking and canoeing on the nearby Willamette River in Independence, a town closely linked with Monmouth through shared services and community events. Downtown Monmouth offers dining options such as Rick’s Place for coffee and Habebah Mediterranean Cuisine for lunch, with evening relaxation at Crush Wine Bar & Tasting Room. Independence's historic downtown features breweries and wineries, celebrating its hops production heritage. Monmouth's location provides convenient commuting options, with Salem just 15 miles away and easy access to Interstate 5 for longer trips to Albany, Portland, and the coast.

Frequently Asked Questions

How much does it cost to rent a home in Monmouth, OR?
The median rent for a home in Monmouth, OR is $1,550 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Monmouth, OR?
To comfortably afford the median rent in Monmouth, OR, a household needs to earn roughly $62,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,550 per month in Monmouth, OR, renters typically need to show $4,650 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Monmouth, OR?
In Monmouth, OR, the price-to-rent ratio is 26.0, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Monmouth, OR are best for renting a home?
The best neighborhood for renting in Monmouth, OR depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Downtown Salem and Northwest Corvallis, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,550
Median Single Family Home Rent
$1,575
Median Townhouse Rent
$2,550
Median Condo Rent
$1,395
How to Rent a Home