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$1,550 - $1,995Studio to 1 Bedroom Apartments Available Now
117 Lofts
117 Preble StPortland, ME 04101
Cheap Apartments for Rent in the Waterfront Neighborhood of Portland, ME from $800 (12 Rentals)
Search the lowest-cost Apartments available for rent right now in the Waterfront area of Portland.
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Rent Specials
$1,589 - $3,9091 to 4 Bedroom Apartments Available Now
The Linden
132 Marginal WayPortland, ME 04101
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$1,709 - $4,5001 to 3 Bedroom Apartments Available Jan 16
Island View Apartments
151 North StPortland, ME 04101
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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$1,800 - $3,6001 to 3 Bedroom Apartments Available Now
Back Bay Tower
401 Cumberland AvePortland, ME 04101
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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.
Showing Results 1-12, Page 1 of 1
Waterfront, Portland, ME Local Guide
How much does it cost to rent an apartment in Waterfront?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Waterfront Studio Apartments | $2,320 | $1,550 | $4,809 |
| Waterfront 1 Bedroom Apartments | $2,384 | $1,589 | $4,730 |
| Waterfront 2 Bedroom Apartments | $2,900 | $1,995 | $6,314 |
| Waterfront 3 Bedroom Apartments | $4,569 | $2,175 | $10,000+ |
| Waterfront 4 Bedroom Apartments | $3,372 | $2,836 | $3,909 |
Browse Apartments in this Neighborhood
There are currently 12 rentals with your search options within a 2 mile radius of the Waterfront Neighborhood of Portland, ME.
See all Apartments in PortlandExplore Portland
Waterfront, Portland, ME Local Guide
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Cheapest Available Waterfront Apartments for Rent
The cheapest available apartment rental in the Waterfront area of Portland, ME is a 1 Bed unit found at The Linden priced from $1,589. 117 Lofts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,775. Here are the most affordable Waterfront apartments for rent in Portland, ME:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Linden | Studio/Efficiency | 1BR,1BA | $1,589 |
| 117 Lofts | 1 Bedroom | 1BR,1BA | $1,775 |
| 11 Shepley St | 1Bedroom | 1BR,1BA | $1,850 |
| Back Bay Tower | 2 Bed 2 Bath | 2BR,2BA | $2,000 |
| Summit Terrace | 2 Bed | Balcony | 2BR,1BA | $2,024 |
Best Value Apartments for Rent in Waterfront, ME
As of January 04, 2026 the best value apartment in the Waterfront area is the $2.59 price per square foot 482 Congress St Model at 482 Congress St, Unit 305 in the in the Downtown Portland neighborhood starting from $3,595. The second greatest value Waterfront apartment is the 438 Fore St Model at 438 Fore St, Unit 3A starting at $2,748 with a $2.50 price per square foot in the Downtown Portland neighborhood. Here is today’s list of the best values for Waterfront apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 482 Congress St, Unit 305 | 482 Congress St | 1BR,1.5BA | $2.59 |
| 438 Fore St, Unit 3A | 438 Fore St | 2BR,1BA | $2.50 |
| 22 State St, Unit #2 | 22 State St | 3BR,1BA | $3.21 |
| Summit Terrace | 2 Bed | Balcony + Washer/Dryer | 2BR,1BA | $2.35 |
| Back Bay Tower | 2 Bed 1 Bath | 2BR,1BA | $2.31 |
| 27 Oak St, Unit Unit#2 | 27 Oak St | 2BR,2BA | $2.94 |
| 8 Quebec St, Unit 1 | 8 Quebec St | 2BR,1BA | $3.30 |
| 161 Pearl St, Unit 1 | 161 Pearl St | 1BR,1BA | $3.33 |
| 126 Spring St, Unit 2 | 126 Spring St | Studio ,1BA | $2.85 |
| 117 Lofts | 1 Bedroom | 1BR,1BA | $3.38 |
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.
Read ArticleCash 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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Pet Friendly LifestyleWaterfront, Portland, ME
Ranked #22
Among cities in Maine for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Lifestyle Ratings
ApartmentHomeLiving.com is proud to bring you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, cities and towns, and rental properties across Maine, including Portland. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, transit availability, pet-friendly communities, features that make it easier to raise kids, in addition to floorplans, availablity, and pricing. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!
Frequently Asked Questions about Cheap Waterfront Apartments
How much is rent for a Cheap One Bedroom Waterfront Apartment?
The lowest price for a Cheap One Bedroom Waterfront Apartment is $1,589 at The Linden.
What is the lowest price for a Cheap Two Bedroom Waterfront Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Waterfront is starting from $2,000 at Back Bay Tower.
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
How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips
Written by: Justin Habersaat
Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.
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.
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.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!