Cheap Homes for Rent in Multnomah County, OR from $500 (114 Rentals)

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

property at 6906 N Vancouver Ave

$800

Total Monthly Price

Total Monthly Price

Base Rent
$800
Total Monthly Price
$800

1 Bedroom, 1 Bath Home for Rent

Available Now

6906 N Vancouver Ave

PortlandOR97217
property at 14407 NE Fremont St

$875

Total Monthly Price

Total Monthly Price

Base Rent
$875
Total Monthly Price
$875

3 Bedroom, 2 Bath Townhome for Rent

Available Now

14407 NE Fremont St

PortlandOR97230

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 20 NW 16th Ave

$900 - $1,100

Studio To 1 Bedroom Rentals

Available Now

20 NW 16th Ave

PortlandOR97209
property at 3641 SW Evelyn St

$1,000

Total Monthly Price

Total Monthly Price

Base Rent
$1,000
Total Monthly Price
$1,000

5 Bedroom, 2 Bath Home for Rent

Available Now

3641 SW Evelyn St

PortlandOR97219

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

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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property at 4420 S Slavin Rd

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

1 Bedroom, 1 Bath Townhome for Rent

Available Now

4420 S Slavin Rd

PortlandOR97239

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-50, Page 1 of 3

Cheapest Available Multnomah County Apartments for Rent

 

The cheapest available apartment rental in Multnomah County, OR is a Studio unit found at Waterleaf in the Southwest Portland neighborhood priced from $480. Helen Swindells Apartments in the Pearl District neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $500. Here is today’s list of the most affordable Multnomah County apartments for rent:

Apartment ListingModel NameBed/BathPriced From
WaterleafStudioStudio,1BA$480
Helen Swindells Apartments0x1Studio,1BA$500
Las AdelitasStudio - 30% AMI PSHStudio,1BA$619
MILEPOST 5Studio Just SinkStudio,$630
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Hayu TilixamOne Bedroom1BR,1BA$650
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$729
Rockwood Landing2X1- 40% LIHTC2BR,1BA$785
Hamilton WestEff StudioStudio,1BA$789
Society 62Private Room w/Bath1BR,1BA$795

Best Value Apartments for Rent in Multnomah County, OR

As of May 10, 2026 the best value apartment in the Multnomah County area is the $1.08 price per square foot 3 Bed Model at 1814 SE Madison St in the in the Southeast Portland neighborhood starting from $2,795. The second greatest value Multnomah County apartment is the Studio Model at Z_Caritas Sacred Heart Villa starting at $1,438 with a $0.96 price per square foot in the Southeast 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.
1814 SE Madison St3 Bed3BR,1BA$1.08
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
East Park Place Apartments2 Bedroom, 2 Bath2BR,2BA$1.38
Park Place3 Bed 2 Bath Standard3BR,2BA$1.38
Firwood Station2 Bed 1 Bath2BR,1BA$1.21
Villa 162 Apartments2 Bed / 1.5 Bath2BR,1.5BA$1.36
Rockwood Landing2X1- 40% LIHTC2BR,1BA$0.86
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
Sunshine Meadows1x11BR,1BA$1.37
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$1.35

Frequently Asked Questions about Multnomah County

What type of rentals are currently available in Multnomah County?

There are currently 4778 Apartments for Rent in Multnomah County, OR with pricing that ranges from $470 to $14,064. There are also 541 Single Family Homes for rent, Condos, and Townhome rentals currently available in Multnomah County ranging from $550 to $15,000.

What is the current price range for Rental Homes in Multnomah County?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Multnomah County ranges from $550 to $15,000 with an average monthly rent of $3,443.

How much are larger Three and Four Bedroom Rentals in Multnomah County?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Multnomah County range from $1,395 to $12,944, while Three Bedroom Homes, Condos, and Townhomes for rent range from $875 to $15,000. Four Bedroom Single-Family rentals are also available starting from $2,400 and Four Bedroom Apartments start at $2,053.

Expert Rental Resources

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.

Articles, How-To's, and Tips

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.