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Salem, IN Homes for Rent

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    Starting at $900 Per Month

    • 2 Beds

    701-709 Etzler Dr, Salem, IN 47167

    Spacious apartments in a quiet community! Welcome to your new home. You're sure to love the open layout and ample space these apartments provide. Vinyl plank floors with fresh paint to welcome you home! Off street parking and laundry available on site and in units.

    701-709 Etzler Dr, Salem, IN 47167
  • /11

    $1,195 Per Month

    • 3 Beds
    • 2 Baths
    • House for Rent

    100 Central Ave, Salem, IN 47167

    Property Id: 2826511 Looking for Your Forever Home? Are you ready to enjoy modern, comfortable living in a welcoming community? This well-designed 3-bedroom, 2-bathroom home at Southway offers a great balance of space, style, and affordability. This 2026 14x66 home features a thoughtfully designed layout with modern finishes, a functional floor plan, and energy-efficient features

    100 Central Ave, Salem, IN 47167
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    $1,250 Per Month

    • 3 Beds
    • 2 Baths
    • House for Rent

    100 Central Ave, Salem, IN 47167

    Property Id: 2826510 Looking for Your Forever Home? Are you ready to enjoy modern, comfortable living in a welcoming community? This well-designed 2-bedroom, 2-bathroom home at Southway offers a great balance of space, style, and affordability. Located at 102 Teresa, this 2026 MHE 14x70 home features a thoughtfully designed layout with modern finishes, a functional floor plan, and

    100 Central Ave, Salem, IN 47167
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    $850

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 800 Sq Ft
    • Condo for Rent

    304 N Main St Unit Basement Apartment, Salem, IN 47167

    This 1-bedroom, 1-bathroom apartment at 304 N Main St offers 600 square feet of living space. The living room provides ample area for relaxation and features easy access to the kitchen. The bedroom is designed for comfort and includes sufficient closet space. The bathroom is equipped with standard fixtures and offers essential privacy. This smoke-free unit includes a washer and dryer for added

    304 N Main St Unit Basement Apartment, Salem, IN 47167

Why Live in Salem

Salem, Indiana, is a small town with a population of around 6,000, surrounded by forest and farmland. The town's historic central square, anchored by a Romanesque limestone courthouse, features local restaurants and shops, with more extensive options available 40 miles away in Louisville. Housing in Salem ranges from early 20th-century cottages with Arts and Crafts elements to ranch-style homes from the 1960s-1980s, and grandiose New Traditional houses from the early 2000s. The Square, Salem's historic downtown, is home to popular eateries like El Maguey Mexican Restaurant and H & R Bakery, known for its affordable donuts and model train set. The town hosts the annual Friday Night on the Square event every September, featuring extended business hours, food trucks, and kid-friendly activities. Recreational attractions include DePauw Park with its wooden playground and Salem Community Park, which offers baseball diamonds, tennis courts, and a skate park. Lake Salinda, located just over 2 miles south of town, provides tournament fishing and scenic hiking trails. Salem Motor Speedway, a local highlight, has been hosting races for over 65 years. The town is well-connected by several interstates and state routes, making downtown Louisville accessible. Salem High School offers dual credit courses and will introduce new career pathways in health sciences and hospitality by the 2025-2026 academic year.

Frequently Asked Questions

How much does it cost to rent a home in Salem, IN?
The median rent for a home in Salem, IN is $850 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option.
How much do you need to make to afford rent in Salem, IN?
To comfortably afford the median rent in Salem, IN, a household needs to earn roughly $34,000 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 $850 per month in Salem, IN, renters typically need to show $2,550 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 Salem, IN?
In Salem, IN, the price-to-rent ratio is 17.1, 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.

Rental Home Trends

Number of Homes for Rent
4
Median Rent
$850
Median Condo Rent
$723
How to Rent a Home