Cheap Apartments for Rent in Portland, IN from $300 (22 Rentals)

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Portland Place
1 to 2 Bedroom Apartments

Portland Place

430 W Lafayette StPortland, IN 47371
Senior Living

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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property at 1224 E Main St

1224 E Main St

MuncieIN47305

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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Showing Results 1-22, Page 1 of 1

Portland, IN Local Guide

Cheapest Available Portland Apartments for Rent and Nearby

 

The cheapest available apartment rental in Portland, IN is a 1 Bed unit found at Senior Living 55+ - Historic Gallatin Square priced from $379. The Haven in the Westacres neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $540. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Senior Living 55+ - Historic Gallatin SquareOne Bedroom1BR,1BA$379
The Haven4x44BR,4BA$540
Yugo Muncie Varsity House3 Bed, 3 Bath Classic Renovated3BR,3BA$569
ApplegateStudioStudio,1BA$640
Flats at West EndStudio, 1 bathStudio,1BA$700

Best Value Apartments for Rent in Portland, IN and Nearby

As of December 08, 2025 the best value apartment in the Portland area is the $0.62 price per square foot 2BD/2BA Furnished Premium Model at University Village in the in the Westacres neighborhood starting from $809. The second greatest value Portland apartment is the 2 Bedroom Model at Thomas Jefferson Park starting at $850 with a $0.77 price per square foot . Here is today’s list of the best values for Portland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
University Village2BD/2BA Furnished Premium2BR,2BA$0.62
Thomas Jefferson Park2 Bedroom2BR,1.5BA$0.77
PINE GROVE APARTMENTS3 BED 2 BATH3BR,2BA$0.89
Welcome to the Fieldcrest Apartments!2 bedroom2BR,1BA$0.91
Senior Living 55+ - Historic Gallatin SquareTwo Bedroom2BR,1BA$1.06
Silvertree CommunitiesEverbrook Townhomes2BR,1.5BA$0.70
Apple Glen2 Bedroom Unit2BR,1BA$0.89
Yugo Muncie Varsity House2 Bed, 2 Bath Renovated2BR,2BA$0.90
Arrasmith Apartments1BR/1.0BA1BR,1BA$0.90
Come home to Granton Place today!1 bedroom1BR,1BA$0.98

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Portland, IN Rentals by Map

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Getting Around Portland, IN

Walk Score®

23 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

39 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Portland Apartments

What is the Cheapest Studio apartment in Portland?

Currently the most affordable Cheap Studio Apartment in Portland is at Applegate listed at $640.

How much is rent for a Cheap One Bedroom Portland Apartment?

The lowest price for a Cheap One Bedroom Portland Apartment is $379 at Senior Living 55+ - Historic Gallatin Square.

What is the lowest price for a Cheap Two Bedroom Portland Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Portland is starting from $710 at The Haven.

What is the most affordable Portland Three Bedroom Apartment?

The best deal on a cheap Portland Three Bedroom Apartment rental is at Yugo Muncie Varsity House and starts from $569.

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

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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.

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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.