Introduction

Investing in rental properties can be a lucrative venture, offering a steady income stream and long-term appreciation. However, the key to a successful investment lies in selecting the right property in the right location. A good rental property should be situated in a desirable area, close to amenities, and in a neighborhood with strong demand. Marion County, OR, offers a range of attractive locations for potential investors. This guide will explore the best neighborhoods and areas in Marion County, grading them on various factors to help you make an informed investment decision.

Best Neighborhoods and Areas in Marion County, OR

1. Salem

Grades:

• Convenience: A
• Tourist Attractions: B+
• Things to Do: A-
• Avg Home Prices: B
• Return on Investment: A
• Proximity to Work-Related Travel: A
• X-Factor: A

Salem, the capital city of Oregon, is the heart of Marion County and offers a vibrant mix of urban amenities and suburban charm.

Convenience: Salem scores high in convenience with its comprehensive public transportation system, numerous shopping centers, and a wide range of restaurants and cafes. The city’s infrastructure supports easy commutes, making it an attractive location for renters.

Tourist Attractions: While Salem may not be as tourist-heavy as Portland, it still offers several attractions such as the Oregon State Capitol, Gilbert House Children's Museum, and beautiful parks like Bush's Pasture Park and Riverfront Park.

Things to Do: Salem boasts a variety of activities, from cultural events at the Elsinore Theatre to recreational opportunities along the Willamette River. The city also hosts farmers' markets, art fairs, and food festivals, providing year-round entertainment for residents.

Avg Home Prices: Salem’s average home prices are moderate compared to other Oregon cities, making it a more affordable investment option. The median home price hovers around $350,000, offering a good balance between affordability and potential rental income.

Return on Investment: The steady demand for rental properties in Salem ensures a promising return on investment. The city's growing population and strong economy contribute to a stable rental market.

Proximity to Work-Related Travel: Salem’s strategic location offers excellent proximity to work-related travel hubs, including Salem Hospital, the Oregon State Fairgrounds, and various convention centers. This makes it ideal for professionals and event-goers.

X-Factor: Salem’s unique charm lies in its blend of historical significance and modern amenities. The presence of state government institutions adds to its stability, while its scenic beauty and vibrant community make it a desirable place to live.

2. Keizer

Grades:

• Convenience: B+
• Tourist Attractions: B
• Things to Do: B+
• Avg Home Prices: B+
• Return on Investment: B+
• Proximity to Work-Related Travel: B+
• X-Factor: B

Keizer, located just north of Salem, offers a quieter suburban lifestyle while still being close to urban conveniences.

Convenience: Keizer provides easy access to essential services, shopping centers, and schools. The city’s layout and transportation options make commuting straightforward.

Tourist Attractions: While Keizer lacks major tourist attractions, it benefits from proximity to Salem's offerings. Locally, Keizer Rapids Park is a notable spot for outdoor activities.

Things to Do: Residents can enjoy a range of recreational activities, from parks and sports fields to local events like the annual Keizer Iris Festival.

Avg Home Prices: Home prices in Keizer are slightly lower than in Salem, with a median home price around $325,000. This affordability makes it an appealing choice for investors.

Return on Investment: Keizer’s steady demand for family-friendly rental properties ensures a reliable return on investment. The community-oriented atmosphere attracts long-term tenants.

Proximity to Work-Related Travel: Keizer's location provides easy access to Salem’s work-related travel hubs, including hospitals and business centers. This proximity enhances its appeal to working professionals.

X-Factor: Keizer’s small-town feel combined with its close-knit community is its unique selling point. The city's commitment to maintaining green spaces and organizing community events fosters a strong sense of belonging.

3. Silverton

Grades:

• Convenience: B
• Tourist Attractions: A-
• Things to Do: B+
• Avg Home Prices: B
• Return on Investment: B
• Proximity to Work-Related Travel: B-
• X-Factor: A

Silverton, known for its picturesque landscapes and charming downtown, is a gem in Marion County.

Convenience: Silverton offers a quieter lifestyle with essential amenities within reach. Its small-town charm is complemented by local shops and cafes.

Tourist Attractions: Silverton is home to the Oregon Garden, a stunning botanical garden, and nearby Silver Falls State Park, known for its beautiful waterfalls and hiking trails.

Things to Do: Outdoor enthusiasts will appreciate the numerous trails, parks, and the historic downtown area. Silverton’s art galleries and local festivals add to the cultural experience.

Avg Home Prices: With a median home price around $340,000, Silverton offers a balanced market for investors. The town’s appeal to retirees and families ensures a steady rental demand.

Return on Investment: Silverton’s unique attractions and peaceful environment make it a desirable rental location, offering stable returns for investors.

Proximity to Work-Related Travel: Silverton is somewhat removed from major work-related travel hubs, but its proximity to Salem mitigates this drawback for some residents.

X-Factor: Silverton’s blend of natural beauty, artistic community, and historic charm sets it apart. The town’s commitment to preserving its heritage while fostering a creative atmosphere is its key attraction.

4. Woodburn

Grades:

• Convenience: B+
• Tourist Attractions: B
• Things to Do: B
• Avg Home Prices: B+
• Return on Investment: B+
• Proximity to Work-Related Travel: B
• X-Factor: B

Woodburn, situated to the north of Salem, is known for its cultural diversity and community spirit.

Convenience: Woodburn offers good access to shopping, dining, and essential services. The Woodburn Premium Outlets are a notable shopping destination.

Tourist Attractions: While not a major tourist hub, Woodburn hosts the annual Tulip Festival, attracting visitors to its vibrant fields of flowers.

Things to Do: Residents enjoy local parks, community centers, and cultural events. The diverse community brings a variety of cultural experiences to the town.

Avg Home Prices: Woodburn’s median home price is around $310,000, making it one of the more affordable options in Marion County. This affordability enhances its attractiveness for investors.

Return on Investment: The steady demand for affordable rental properties in Woodburn ensures a reliable return on investment. The town’s growth potential adds to its appeal.

Proximity to Work-Related Travel: Woodburn’s location offers reasonable access to Salem and Portland, making it suitable for commuters and professionals.

X-Factor: Woodburn’s rich cultural diversity and community-oriented lifestyle are its standout features. The town’s inclusive environment and annual festivals foster a unique and welcoming atmosphere.

Conclusion

Marion County, OR, presents a variety of promising locations for rental property investment. Each area offers its own unique advantages, from the urban amenities of Salem to the charming appeal of Silverton. By considering factors such as convenience, attractions, and return on investment, investors can make informed decisions to unlock the full potential of their rental properties in Marion County.