Cheap Homes for Rent in Multnomah County, OR from $500 (131 Rentals)

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

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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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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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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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 5Studio Just SinkStudio,$630
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Hayu TilixamTwo Bedroom2BR,2BA$668
Fountain Place ApartmentsMicro StudioStudio,1BA$680
Society 62Private Room1BR,$750
Hamilton WestHamilton West: Your Urban Oasis in PortlandStudio,1BA$757
5th Avenue Place ApartmentsStudioStudio,1BA$795
Buri BuildingStudio SIMStudio,1BA$799
The Yards at Union StationSTUDIO BStudio,1BA$799

Best Value Apartments for Rent in Multnomah County, OR

As of December 20, 2025 the best value apartment in the Multnomah County area is the $0.89 price per square foot 2124 SE Elliott Ave Model at 2124 SE Elliott Ave, Unit 1 in the in the Southeast Portland neighborhood starting from $2,500. 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.
2124 SE Elliott Ave, Unit 12124 SE Elliott Ave2BR,2BA$0.89
The Willows3x2.53BR,2.5BA$1.06
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Belmont Dairy Apartments and LoftsStudio or LoftStudio ,1BA$0.85
Plaza de Cedro3 bedroom3BR,2BA$1.10
Melrose Court ApartmentsTwo Bedroom2BR,1BA$1.18
Villa de Clara Vista3 Bedroom 1 Bath PBV 50% AMI3BR,1BA$1.28
ShamrockSHAM 2x12BR,1BA$1.22
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
Wellesley Court Apartments0BR/1.0BAStudio ,1BA$1.23

Frequently Asked Questions about Multnomah County

What type of rentals are currently available in Multnomah County?

There are currently 4801 Apartments for Rent in Multnomah County, OR with pricing that ranges from $619 to $17,991. There are also 718 Single Family Homes for rent, Condos, and Townhome rentals currently available in Multnomah County ranging from $550 to $10,500.

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 $10,500 with an average monthly rent of $2,770.

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 $765 to $17,991, while Three Bedroom Homes, Condos, and Townhomes for rent range from $825 to $10,500. Four Bedroom Single-Family rentals are also available starting from $700 and Four Bedroom Apartments start at $2,447.

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 Renting with Roommates: Realistic Expectations for Shared Lease article

Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.