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Cheap Apartments for Rent in the Waterfront Neighborhood of Portland, ME from $800 (9 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 - $2,9191 to 4 Bedroom Apartments Available Now
The Linden
132 Marginal WayPortland, ME 04101
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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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Rent Specials
$1,700 - $2,091Studio to 1 Bedroom Apartments Available Now
117 Lofts
117 Preble StPortland, 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.
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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 | $1,904 | $1,565 | $2,290 |
| Waterfront 1 Bedroom Apartments | $2,259 | $1,589 | $3,297 |
| Waterfront 2 Bedroom Apartments | $2,550 | $1,995 | $3,500 |
| Waterfront 3 Bedroom Apartments | $3,207 | $2,175 | $4,500 |
| Waterfront 4 Bedroom Apartments | $2,836 | $2,836 | $2,836 |
Browse Apartments in this Neighborhood
There are currently 9 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
- Nearby Portland neighborhoods
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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. 11 Shepley St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,850. 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 |
| 11 Shepley St | 1Bedroom | 1BR,1BA | $1,850 |
| 117 Lofts | 1 Bedroom | 1BR,1BA | $1,975 |
Best Value Apartments for Rent in Waterfront, ME
As of October 31, 2025 the best value apartment in the Waterfront area is the $1.52 price per square foot Three Bedroom Townhouse Model at Island View Apartments in the in the North Deering neighborhood starting from $2,950. The second greatest value Waterfront apartment is the 28 E Oxford St Model at 28 E Oxford St, Unit 28 Oxford St starting at $2,750 with a $2.40 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. |
|---|---|---|---|
| Island View Apartments | Three Bedroom Townhouse | 3BR,2BA | $1.52 |
| 28 E Oxford St, Unit 28 Oxford St | 28 E Oxford St | 2BR,1BA | $2.40 |
| 438 Fore St, Unit 3A | 438 Fore St | 2BR,1BA | $2.50 |
| 18 South St, Unit #2 | 18 South St | 2BR,1BA | $2.11 |
| Back Bay Tower | 2 Bed 2 Bath | 2BR,2BA | $2.11 |
| 89 Anderson | 89 Anderson 2BD Plan B | 2BR,1BA | $3.22 |
| Summit Terrace | 2 Bedroom | 2BR,1BA | $2.38 |
| 117 Lofts | 1 Bedroom | 1BR,1BA | $3.76 |
| 11 Shepley St | 1Bedroom | 1BR,1BA | $3.70 |
| 92 Danforth St, Unit 3.0 | 92 Danforth St | 1BR,1BA | $3.20 |
Apartment Common Area Rules: What Renters Need to Know
From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.
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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.
Read ArticleThe 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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Pet Friendly LifestyleWaterfront, Portland, ME
Ranked #15
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!
Getting Around the Waterfront Neighborhood in Portland, ME
Walk Score®
92 / 100
Walker’s Paradise
Daily errands do not require a car
Bike Score®
82 / 100
Very Bikeable
Biking is convenient for most trips
Transit Score®
51 / 100
Good Transit
Many nearby public transportation options
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 Waterfront Apartments
What is the price of a cheap apartment in Waterfront?
The cheapest apartment in Waterfront is The Linden which is listed at $1,589, while the average apartment in Waterfront costs $2,950.
What types of apartments are the cheapest in Waterfront?
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 1 regular apartments in Waterfront that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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.
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!
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.
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.