2024 Office Space Rent & Sales
- $24.79 2024 Avg. Asking Rent
- 11.28% 2024 Office Vacancy Rate
Salem office price per square foot in 2024 was $24.79 on average. The local office market recorded an average vacancy rate of 11.28% across all asset classes combined.
See how this market compares to the national average: U.S. office space rent & sales.
Average Rent by Office Class
2024 Average Office Rent per Square Foot
- Oregon Class A & A+ Office Space$33.32
- Oregon Class B Office Space$25.72
- Oregon Class C Office Space$18.77
Salem, OR Office Asking Rents by Class
2024 Office Vacancy Rates in Salem
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Salem - South | $30.19 | 30.71% |
| Salem - Central | $26.14 | 9.60% |
| Salem - Southeast | $24.86 | 11.05% |
| Salem - North | $21.00 | 7.93% |
Office Spaces for Rent in Oregon
Coworking Spaces in Oregon
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2024 Office Construction in Salem, OR
| Office building | Address | SF | Completed |
|---|---|---|---|
| New Build Office Suites | 835 Commercial St SE, 97302 | 14,447 | 2024 |
| 2025 Madrona Ave SE #110 | 2025 Madrona Ave SE #110, 97302 | 6,300 | 2022 |
| Boulder Creek South | 2525 12th Street SE, 97302 | 42,495 | 2017 |
| The Meridian | 777 Commercial Street SE, 97301 | 52,000 | 2009 |
| Riverside Professional Building | 2925 River Rd S, 97302 | 22,024 | 2008 |
| 680 Hawthorne Avenue SE | 680 Hawthorne Avenue SE, 97301 | 20,082 | 2008 |
| 1715 Capitol St NE | 1715 Capitol St NE, 97301 | 2,330 | 2008 |
| Keizer Professional Office | 1184 Mcgee Court Northeast, 97303 | 7,330 | 2007 |
| 1184 Mcgee Court Northeast | 1184 Mcgee Court Northeast, 97303 | 7,330 | 2007 |
| Trademark Professional Center | 1174 Cornucopia Street Northwest, 97304 | 17,338 | 2006 |
Worth noting among recent office completions on the Salem market is New Build Office Suites, which is currently the largest new office development in the city, at 14,447 square feet.
See reports for other markets
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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Salem commercial properties sized 25,000 square feet or larger.
While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.