Highlights
- The average rent for office space in Salem is $22.25 per square foot, 10.24% lower compared to the previous year.
- The market’s vacancy rate stands at 20.85%, higher than the state average of Oregon, which is 15.31%.
2025 Office Space Rent & Sales
- $22.25 2025 Avg. Asking Rent
- -10.24% Y-o-Y Avg. Asking Rent Change
- 20.85% 2025 Office Vacancy Rate
What is the average asking rent price for office space in Salem?
Average asking rents for office space here stand at $22.25 per square foot. The local office market recorded an average vacancy rate of 20.85% in 2025, unchanged from 20.85% in 2024.
Salem, OR Office Asking Rents by Class
What is the average office rent per square foot by property class in OR?
- Avg. Asking Rent Class A & A+$33.77
- Avg. Asking Rent Class B$25.24
- Avg. Asking Rent Class C$16.34
For comparison, the average rent for Class A and A+ office space in Oregon was $33.77 per square foot. The state-wide average for Class B space was $25.24 per square foot, and Class C office spaces averaged $16.34 per square foot.
Salem, OR Office Indicators by Submarket
| Submarket | Asking Rents | Vacancy Rates |
|---|---|---|
| Salem - Southeast | $25.18 | 12.17% |
| Salem - South | $24.00 | 7.20% |
| Salem - Central | $22.07 | 16.37% |
| Salem - North | $20.55 | 19.52% |
What are the largest recent office completions in Salem?
The largest recent office completion here is The Meridian at 52,000 square feet, completed in 2009. The next largest completions are WaterPlace and Creekside Corporate Center.
| Office building | Address | SF | Completed |
|---|---|---|---|
| WaterPlace | 500 Liberty Street SE, Suite 400, 97301 | 41,400 | 2010 |
| The Meridian | 777 Commercial Street SE, 97301 | 52,000 | 2009 |
| Riverside Professional Building | 2925 River Rd S, 97302 | 22,024 | 2008 |
| Creekside Corporate Center - Building 680 | 680 Hawthorne Avenue Southeast, 97301 | 18,521 | 2008 |
| Creekside Corporate Center - Building 680 | 680 Hawthorne Avenue Southeast, 97301 | 18,521 | 2008 |
| 1715 Capitol St NE | 1715 Capitol St NE, 97301 | 2,330 | 2008 |
| 1184 Mcgee Court Northeast | 1184 Mcgee Court Northeast, 97303 | 7,330 | 2007 |
| Trademark Professional Center | 1174 Cornucopia Street Northwest, 97304 | 17,338 | 2006 |
| Mission Oaks Professional Center | 1255 Lee Street SE, 97302 | 27,254 | 2005 |
| Creekside Corporate Center | 650-670 Hawthorne Ave SE, 97301 | 28,362 | 2004 |
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Disclaimer
All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.
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 Yardi Research Data can guarantee that the information provided is complete.