Cheap Apartments for Rent in Multnomah County, OR from $500 (1,237 Rentals)

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Search the lowest-cost Apartments available for rent right now in Multnomah County.

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Cheapest Available Multnomah County Apartments for Rent

 

The cheapest available apartment rental in Multnomah County, OR is a Studio unit found at Las Adelitas in the Cully neighborhood priced from $619. MILEPOST 5 in the Southeast Portland neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $630. Here is today’s list of the most affordable Multnomah County apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Las AdelitasStudio - 30% AMIStudio,1BA$619
MILEPOST 5SROStudio,$630
Hayu TilixamTwo Bedroom2BR,2BA$668
Society 62Private Room w/Bath1BR,1BA$700
Hamilton WestHamilton West: Your Urban Oasis in PortlandStudio,1BA$757
Regency ApartmentsStudio AStudio,1BA$785
5th Avenue Place ApartmentsStudioStudio,1BA$795
Zeal LoftsStudio 1Studio,1BA$795
Buri BuildingStudio SIMStudio,1BA$799
SM Multnomah Manor1X1- 50% HUD1BR,1BA$822

Best Value Apartments for Rent in Multnomah County, OR

As of November 02, 2025 the best value apartment in the Multnomah County area is the $1.04 price per square foot 718 NW 21st Ave Model at 718 NW 21st Ave, Unit B in the in the Northwest Portland neighborhood starting from $2,595. The second greatest value Multnomah County apartment is the 3x2.5 Model at The Willows starting at $2,295 with a $1.06 price per square foot in the East Portland neighborhood. Here is today’s list of the best values for Multnomah County apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
718 NW 21st Ave, Unit B718 NW 21st Ave3BR,1BA$1.04
The Willows3x2.53BR,2.5BA$1.06
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
201 SW 4th St, Unit 2201 SW 4th St2BR,1BA$1.19
Plaza de Cedro3 bedroom3BR,2BA$1.10
Villa de Suenos3 Bedroom 1.5 Baths PBV unit at 30% AMI3BR,1.5BA$1.14
Los Jardines de la Paz3 Bedroom 1 Bath3BR,1BA$1.19
Gateway Plaza Apartments1BD, 1BTH 45%1BR,1BA$1.33
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
seaside021BR/1.0BA1BR,1BA$1.33

Frequently Asked Questions about Cheap Multnomah County Apartments

What is a cheap apartment in Multnomah County?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Multnomah County is under $822.

What is the price of a cheap apartment in Multnomah County?

The cheapest apartment in Multnomah County is Las Adelitas which is listed at $698, while the average apartment in Multnomah County costs $12,357.

What types of apartments are the cheapest in Multnomah County?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 452 regular apartments in Multnomah County that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Multnomah County?

Cheap apartments in Multnomah County have an average cost of $248 which is $12,109 cheaper than the average rent for all rentals in Multnomah County.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.