Wallace Park Apartments. Wallace Park Apartments in Salem, OR offers a convenient living experience in the Wallace Park area. Each apartment includes a practical living/dining/kitchen layout, carpet and vinyl flooring, and a kitchen equipped with a range, refrigerator, dishwasher, and garbage disposal. Added conveniences include W/D hookups, an on-site coin-operated laundry room, electric wall heaters, and available carports. Water, sewer, and garbage are included in the rent. Renter's insurance is required, and smoking is not permitted within 40 feet of any building on the property. Amenities: Renter's Insurance Required, 12 Month Lease Preferred, Living/Dining/Kitchen Area, Pet screening is mandatory before approval, Photo Disclosure: Photos may be of a smilar unit, Resident must provide proof of renters liability insurance or pay $15 a month for our provided policy & Water/sewer/garbage/landscaping.

4 days on RentalSource

RentalSource last checked: 10 hours ago · Listing updated: November 1, 2026

Managed by: Invest West Management · (503) 588-2996

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Property Summary

Property Type:	Apartment
Rental Fee:	$1,450
Bedrooms:	2 beds
Bathrooms:	2 baths
Size:	1,100 sqft

Pets:	Cats & dogs
Laundry:	Hookups
Parking:	Yes
Available:	Now
ID:	84121391

Amenities

Water, Sewer & Trash Included
Washer/Dryer Hookups
Laundry Facilities
Parking
Dishwasher
Carpeted Floors
Ceiling Fan
Clubhouse
Fitness Center
Garbage Disposal
Refrigerator
Smoke-Free
Vinyl/Laminate Floors

Leasing Information

Fees

Deposit $600 (mandatory, refundable, move-in).

Additional Details

This 2-bedroom, 2-bathroom apartment at 540 Wallace Rd NW in Salem, OR 97304 rents for $1,450 a month. It has 1,100 square feet and is pet friendly. 540 Wallace Rd NW was advertised by Invest West Management on October 29, 2026.

How the Rent Compares

At $1,450 a month, this apartment is close to the typical rent for 2-bedroom apartments and condos in Salem (about $1,350).

From 144 two-bedroom apartments and condos listed in Salem on RentalSource in November 2026: the scale holds eight in ten of them, and the shaded band the middle half.

$1,350Typical rent for 2-bedroom apartments and condos in Salem

$1,240–$1,500Middle half of their rents

38 daysAverage time they have been listed

See 2+ bedroom rentals in Salem

Affordability Calculator

Can I afford to live at 540 Wallace Rd NW?

Bedrooms

2 bedrooms

Rent-to-income ratio

30%

10% Recommended 50%

Move the slider to select the percentage of your monthly income you're comfortable spending on rent. Typically, it's advised to spend about 30% or less on housing.

Recommended income

$58,000 /year

With your chosen rent-to-income ratio, an annual income of $58,000 is recommended to comfortably afford this 2-bedroom rental priced at $1,450 per month.

For more information on rent affordability, visit our rent calculator or rent vs. buy calculator.

Apartment for rent

$1,450

Deposit $600 · All fees

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Property managed by:

Invest West Management

(503) 588-2996 · View all 42 rentals

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