Salem is the capital of Oregon, situated along the Willamette River approximately 47-miles from Portland. Around 147.000 people call Salem home, making it the third-largest city in the state. However, more than 400,000 people compose the Salem metropolitan statistical area. Beautiful scenic mountain views give Salem plenty of character, as does the interesting history.

Whatever you fancy for fun, Salem has your needs covered. The Oregon State Fair is the biggest event in the city although year-round activities provide fun for all lifestyles. Hikes, picnics, and other outdoor activities fill the time of many Salem residents who love the fresh outdoor air. Browsing historic downtown Salem is a favorite activity for locals and tourists alike. Delicious restaurants suit every palate, with favorite choices including Wild Pear and Ritters Housemade Foods.

1486 Listing Found in Salem, OR

Buying a Home in Salem

The available housing in Salem is slim, making it somewhat difficult to find a home. The median sales price for a home in Salem is $171,075, giving buyers who find a home a great deal with rates below the national average. More than 60% of all Portland residents own their homes. Homes stay on the market from 55 days to 159 days. Although you may need patience when shopping for a home in Salem, terrific homes are out there.

Popular Neighborhoods in Salem

Finding a bad neighborhood in Salem is unlikely, although the unique features each area offers sure attracts its own set of residents. Near downtown, the Grant neighborhood offers 1920’s style bungalows and new homes. Keep in mind that median sales prices on newly constructed homes are slightly more than a pre-built home.

No matter which Salem neighborhood appeases you most, rest assured you’ll live in a safe neighborhood where kids can play outside free from worry, friendly neighbors, and a host of activities and amenities for your convenience.

Buying Vs. Rent to Own Homes

Buying a home using traditional techniques requires buyers to have good credit, a hefty down payment, closing costs, miscellaneous fees, and plenty of time. That works well for many buyers, but not everyone. With a rent-to-own buying option, buyers who do not fit into the traditional buying plan can make dreams come true and own a home.

Cost of Living in Salem

Salem residents enjoy a mixture of high and lower cost of living. Housing, groceries, and utilities offer a 2.5% – 4% lower rate than the national average while healthcare costs average 18% more than the national average. Factored together, Salem has a 2% higher cost of living than the national average. Despite the slightly inflated cost of living, Salem residents live comfortably with a plethora of educational and job opportunities available.

Summary

Salem offers beautiful homes and a host of amenities for its residents. The city even made the Forbes list of low “Cost of Doing Business,” ranking number six.

Rent to Own Realtors

Rent-to-own buying options lock in today’s housing prices while giving the buyer time to build their credit, save money for a down payment, and otherwise prepare for this venture in their life.

When you find a rent-to-own property, simply pay an option fee when you sign the lease. This fee varies and is non-refundable. With the option fee paid, you have up to three years to buy, depending on the contract stipulations.

Each month when you pay rent, a premium fee is added to the amount. This fee is put toward the down payment when you buy the home. This makes saving money easier for everyone as it alleviates worry and stress.

Browse the free rent-to-own listings here with us. Realtors avoid these homes because they take time, something they do not have. But, we work with these lenders to bring the offers your way. The good news is that you save money and time without the need for a realtor to assist in the buying process.