Salem Homes under $500,000

Welcome to Salem, Oregon—a city rich in history, culture, and natural beauty. Nestled in the heart of the Willamette Valley, Salem is the state capital and boasts a vibrant blend of urban amenities and serene landscapes. With its charming downtown area, lush parks, and proximity to both the Cascade Mountains and the Oregon Coast, Salem offers a unique lifestyle that appeals to families, young professionals, and retirees alike.

One of the most enticing aspects of living in Salem is the affordability of housing. For those seeking a home under $500,000, the city presents a wealth of options. From quaint bungalows in established neighborhoods to modern townhomes and cozy single-family residences, there’s something for everyone. The real estate market in Salem is diverse, allowing potential homeowners to find a property that suits their style and budget.

Families will appreciate the excellent school districts and numerous recreational activities, including nearby hiking trails, parks, and community events. The city’s rich history is evident in its stunning architecture and museums, while the thriving local food scene offers a taste of Oregon’s finest culinary delights.

Whether you’re drawn to Salem’s historic charm, its strong sense of community, or the stunning natural surroundings, you’ll find that this city has something special to offer. Explore our listings today and discover your dream home in Salem—where affordability meets quality living!

Newest Salem Homes under $500,000

$364,900

1 Beds ⋅ 1 Baths ⋅ 73585687 MLS

It’s Halloween in Salem and your loft awaits! This rare top-floor cozy (read: small) corner residence combines dramatic old-world character, abundant natural light, and sweeping southern views over the rooftops of the city. Soaring 14-foot windows create an airy, open feel, while exposed brick, original beams, and a warm industrial-art aesthetic give the space a personality all its own. Step outside and downtown Salem is at your doorstep: coffee shops, restaurants, boutiques, museums, nightlife, and the commuter rail to Boston—just 21 minutes on the express. An off-street parking pass at nearby Riley Plaza adds convenience. Condo-buying advice: top floor matters. No wondering who is walking overhead at 5 a.m. in heels or playing marbles at 1 a.m. Here, you’re already on top.

24 Norman St Unit 301, Salem

$210,000

1 Beds ⋅ 1 Baths ⋅ 5112327 MLS

Conveniently located just minutes from The Tuscan Village- offering shopping, dining and entertainment. Great commuter location with easy access to routes 93 and 213! Why rent when you can own? This one bedroom, with walk-in closet, one bathroom condo is move-in ready just waiting for it's new owner or investor. Low monthly fee includes heat, hot water and cooking gas! Includes on-site laundry facilities and deeded parking. Dogs are not permitted. Stop renting and start owning today! EASY to show.

5 Lancelot Ct Unit 6, Salem

$182,500

1 Beds ⋅ 1 Baths ⋅ 5112294 MLS

Welcome to easy living at Friendship Drive Cooperative in Salem. This well maintained, move in ready 2006 manufactured home has a bright, comfortable feel with neutral tones. The open concept kitchen, dining area, and living room create an inviting space to relax or gather with friends. Along with the bedroom, there’s a separate room that could be used as a home office, study, or hobby space. A brand new roof is another welcome update. Just across the street, Tuscan Village offers shopping, restaurants, and entertainment within walking distance. The Salem Rail Trail is also nearby for walking and biking. With a reasonable park fee and so much close to home, this home is ready for its next owner. Open houses Friday, 10/2 4:30-6pm, Saturday 12-1:30 pm and Sunday 10:30-12pm

1 Friendship Dr, Salem

$495,000

2 Beds ⋅ 2 Baths ⋅ 73584654 MLS ⋅ ['Pickman Park'] BLDG.

Nestled within the highly sought-after Pickman Park community, this beautifully maintained townhouse offers the perfect blend of comfort, style, and convenience. Surrounded by mature trees and professionally landscaped grounds, the setting is private and peaceful while just minutes from downtown Salem, Salem State University, beaches, shopping, dining, and commuter routes. Residents enjoy outstanding amenities, including an in-ground pool, tennis courts, clubhouse, and professional management. Inside, soaring vaulted ceilings and gleaming hardwood floors create a bright, open feel throughout the main living areas and both bedrooms. The kitchen features stainless steel appliances and opens seamlessly to the dining and living spaces, ideal for everyday living and entertaining.The walk-out lower level offers exceptional flexibility with a spacious family room that's perfect as a home office, guest space, gym, media room, or bonus bedroom, along with abundant storage. Whether you're looking for your first home, downsizing, or seeking a low-maintenance lifestyle with resort-style amenities, this move-in ready home offers the best of Salem living.

52 Pickman Rd Unit 3B, Salem

$499,000

3 Beds ⋅ 2 Baths ⋅ 73584546 MLS

Opportunity is knocking, and this one comes with plenty to work with! 8 Ord St. in Salem is a 3-bedroom, 1.5-bath home with a traditional layout, some distinctive original details and the kind of flexibility that gives a new owner plenty of room to make it their own. The enclosed front porch is a fitting introduction to a home where the spaces are comfortably defined and ready for a fresh perspective. The living room occupies the front of the home, while the kitchen extends into a separate pantry and prep area with the kitchen cabinetry, sink and dishwasher. Some of the cabinetry has been updated, adding function and useful storage to the space. Continue through and the dining room delivers one of the home’s most appealing details, with hardwood flooring and built-in cabinetry that brings character and function together. Upstairs, three bedrooms and a full bath complete the second floor. The bath features a newer laminate floor and tub surround, while the straightforward layout throughout the home provides a solid starting point for whatever changes the next owner may envision. Outside, the gently sloped, fenced yard is framed by established shrubs and flowering plantings, giving the property a welcoming backdrop and room to garden, gather or simply enjoy the outdoors. Andersen insulated windows were installed in 2017, and the exterior was painted approximately two years ago. For buyers looking for a place they can truly make their own, this home offers the chance to create something special over time. Bring your ideas, imagine the possibilities and make this home distinctly yours! This is an estate sale, and the property is being sold in as-is condition, except for a new roof to be installed prior to closing. No representations are being made by Seller and/or listing agent. Some photos virtually staged, as labeled. Open Houses Fri.,10/2 5-6:30PM and Sat., 10/3 12-1:30PM.

8 Ord St, Salem

$369,900

1 Beds ⋅ 1 Baths ⋅ 73583987 MLS

Beautiful ocean views from the rear deck and kitchen across Salem Harbor to Marblehead. This first floor garden style condominium was fully updated and converted in 2016. 4 unit building with deeded parking space #4 in rear parking lot. Full size laundry personal units included! Natural gas heat. Central air conditioning. New kitchen with ocean views, granite counters, ceramic tile floors & stainless steel appliances. Updated bathroom with tiled walled tub & shower and granite on vanity. Primary bedroom with walk out bay. Oak hardwood floors. Both front and rear covered porches. Large lower level locked storage area. Convenient to downtown and all Salem has to offer. Amazing location between both Forest River Park and Palmer Cove Park on the waterfront with walk trails, playgrounds, courts, picnic areas, ballfields, etc..

23 Green St Unit 1R, Salem

$495,900

2 Beds ⋅ 2 Baths ⋅ 73583649 MLS ⋅ ['Cloister Condominium'] BLDG.

Welcome to this spacious and beautifully updated end-unit condo offering an impressive blend of comfort, privacy, and nature. Soaring vaulted ceilings create an open, airy feel throughout, while two generously sized bedrooms and two full baths, including a private en-suite, provide a functional and inviting layout. The kitchen features updated stainless steel appliances, and in-unit laundry adds everyday convenience. What truly sets this home apart is its peaceful setting directly abutting Salem Woods Highland Park—129 acres of trails that provide a peaceful retreat right outside your door. Step onto your private balcony overlooking the forest and enjoy morning coffee, evening sunsets, or simply the sounds of nature. A spacious detached two-car garage provides plenty of room for parking and additional storage. Enjoy a tucked-away setting surrounded by nature while still being conveniently located near shopping, dining, major routes, and all that Salem has to offer.

15 First St Unit A2, Salem

$214,900

2 Beds ⋅ 1 Baths ⋅ 73583594 MLS

Meticulously maintained 2-bedroom, 1-bath ranch-style manufactured home located on a desirable corner lot in a 55+ community. This inviting open-concept home features an eat-in kitchen with brand-new stainless-steel appliances, including a gas range and dryer. Enjoy new flooring throughout, freshly painted walls and ceilings, and comfortable year-round living with a propane heating system and mini-split heating/air conditioning. Ceiling fans add to the comfort. Recent exterior updates include a new roof with a 50-year warranty, a new storage shed, and a freshly sealed driveway. Move-in ready and thoughtfully updated, this home offers easy living in a well-established 55+ community.

1 Arrow Dr. Unit L, Salem

$214,900

2 Beds ⋅ 1 Baths ⋅ 5111915 MLS

1l Arrow Dr, Salem

$239,900

2 Beds ⋅ 2 Baths ⋅ 5111542 MLS

Salem NH - Come take a look and be part of the Ackerman's Community! Imagine starting your morning in a bright, welcoming home filled with natural light and everything you need right close by. This beautiful 2 bedroom, 2 bath home has a comfortable, easy flow that makes it feel like a place you can settle into. The kitchen offers beautiful cabinetry, generous counter space and modern appliances. Whether dinner for yourself or friends, the open layout keeps everyone connected and makes entertaining easy. There's room to relax, room to have company and room to make the space your own. Central air keeps things comfortable, washer and dryer hookups add convenience and the storage shed gives you a place for those things you don't want inside. You will also have peace of mind of a 1 year home warranty, 10 year structural warranty and Energy Star Certification. Residents also have access to a welcoming clubhouse offering opportunities for activities, events and socializing. Located in a 55+ community this home offers a comfortable, low-maintenance lifestyle with the space, style, and features you've been looking for. No dogs. Owner is licensed NH salesperson. Some photos are reasonable facsimile's. Schedule your private showing today!

84 Caddy Dr, Salem

$298,000

2 Beds ⋅ 2 Baths ⋅ 5111487 MLS

Life can be complex. Your home shouldn’t be. Welcome to worry free, turnkey living in this beautifully maintained manufactured home, just three years young and ready for you to move in and enjoy. From the moment you arrive, you’ll appreciate the spacious paved driveway, covered front porch, and additional deck, perfect for relaxing, entertaining, or simply enjoying your surroundings. Step inside and you’ll find an inviting open-concept layout filled with natural light, creating a comfortable and welcoming atmosphere throughout. The kitchen features stainless steel appliances and flows seamlessly into the main living area, making everyday living and entertaining a breeze. The spacious primary bedroom offers the added convenience and privacy of an ensuite bathroom. With its like-new condition, thoughtful layout, outdoor spaces, and wonderful 55+ community setting, this home offers an easy, low-maintenance lifestyle in a location you’ll love coming home to. Why wait? Private showings begin immediately. come see how simple homeownership can be!

11 Hagop Rd, Salem

$479,900

3 Beds ⋅ 2 Baths ⋅ 5111463 MLS

OFFER DEADLINE HAS BEEN SET FOR MON (9/28) AT 1PM. A rare find in a neighborhood you will love! These homes simply don’t come on the market very often! Lovingly maintained by its original owners, this well-cared-for home is ready for its next chapter. It offers the perfect combination of one level living, recent mechanical updates, a beautiful corner lot, and opportunity to make it your own. Step inside and you will immediately appreciate the pride of ownership. The kitchen offers an abundance of solid-wood cabinetry with convenient pull outs, stainless steel dishwasher, range and microwave, and a charming eat in dining area. The living room is currently carpeted, but has the same beautiful hardwood as the 3 bedrooms, waiting to be uncovered! The three season porch is the perfect spot to enjoy your morning coffee, catch the breeze, or simply unwind at the end of the day. The full walkout basement, complete with a convenient half bath, and laundry (newer washer/dryer included), provides valuable space for future expansion, hobbies, a home gym, workshop, or whatever fits your lifestyle. Major updates have already been taken care of, including FHA heating (2023), hot water heater (2025), newer A/C condenser, newer roof, vinyl windows, and vinyl siding. Public water and sewer and central air add even more convenience. This is the kind of home that gives you a great head start: solid, well maintained, updated where it matters, and ready for your personal touch. Bring your vision, add a few cosmetic updates, and turn this special property into the home you’ve been looking for. Opportunities like this, in a neighborhood this desirable are hard to find, don’t let this one pass you by! This home is located in a convenient neighborhood within walking distance of Woodbury School, Salem High and the Boys & Girls Club, and a short drive to Tuscan Village, Rte 93 and the MA border. Join us at the OPEN HOUSE SUN (9/27) from 1:30pm - 3:30pm.

32 Henderson Cir, Salem

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