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$1,625 - $1,865Studio to 1 Bedroom Apartments Available Nov 2
117 Lofts
117 Preble StPortland, ME 04101
Cheap Apartments for Rent in the Waterfront Neighborhood of Portland, ME from $880 (20 Rentals)
Search the lowest-cost Apartments available for rent right now in the Waterfront area of Portland.
1 City Center
PortlandME04101
602 Congress St
PortlandME04101
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Rent Specials
$1,850 - $2,500
Total Monthly Price
Base Rent$1,850 - $2,500
Total Monthly Price$1,850 - $2,500
11 Shepley St
11 Shepley StPortland, ME 04101
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Rent Specials
$1,965 - $2,3751 to 4 Bedroom Apartments Available Now
The Linden
132 Marginal WayPortland, ME 04101
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$1,990 - $4,100Studio to 2 Bedroom Apartments Available Now
The Casco
201 Federal StPortland, ME 04101
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
48 State St, Unit 21
48 State St
PortlandME04101
12 O'Brion St
PortlandME04101
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$2,1671 Bedroom Apartment Available Dec 4
537 Congress St, Unit 304
537 Congress StPortland, ME 04101
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$2,175
Total Monthly Price
Base Rent$2,175
Total Monthly Price$2,175
11 Ponce St, Unit 1
11 Ponce StPortland, ME 04101
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$2,300 - $4,5002 to 3 Bedroom Apartments Available Now
Island View
151 North StPortland, ME 04101
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$2,300 - $2,9002 Bedroom Apartments Available Now
Back Bay Tower
401 Cumberland AvePortland, ME 04101
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
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$2,400
Total Monthly Price
Base Rent$2,400
Total Monthly Price$2,400
33 Atlantic St, Unit 3
33 Atlantic StPortland, ME 04101
25 High St, Unit 506
25 High St
PortlandME04101
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1 to 4 Bedroom Apartments
Danforth Heights
48 Salem StPortland, ME 04102
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Studio to 1 Bedroom Apartments
The Metropolitan
439 Congress StPortland, ME 04101
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1 Bedroom Apartments
Old Port Arms
56 Exchange StPortland, ME 04101
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Studio to 2 Bedroom Apartments
Shepley Apartments
18 Casco StPortland, ME 04101
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.
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1 to 4 Bedroom Apartments
Munjoy South Townhouses
27B Mountfort StPortland, ME 04101
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$2,079 - $2,4622 Bedroom Apartments Available Now
Summit Terrace
111 Summit TerSouth Portland, ME 04106
Showing Results 1-20, 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 | $2,232 | $1,550 | $2,627 |
| Waterfront 1 Bedroom Apartments | $2,350 | $1,721 | $3,220 |
| Waterfront 2 Bedroom Apartments | $2,410 | $2,079 | $4,100 |
| Waterfront 3 Bedroom Apartments | $3,765 | $2,795 | $4,500 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 20 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 11 Shepley St priced from $1,850. The Linden has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,965. Here are the most affordable Waterfront apartments for rent in Portland, ME:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 11 Shepley St | 1Bedroom | 1BR,1BA | $1,850 |
| The Linden | One Bedroom | 1BR,1BA | $1,965 |
| The Casco | The Casco - Deer Isle | Studio,1BA | $1,990 |
| Summit Terrace | 2 Bed | 2BR,1BA | $2,079 |
| Back Bay Tower | 2 Bed 1 Bath | 2BR,1BA | $2,300 |
Best Value Apartments for Rent in Waterfront, ME
As of September 10, 2026 the best value apartment in the Waterfront area is the $2.32 price per square foot Market Rate 3 Bedroom Townhome Model at Island View in the in the North Deering neighborhood starting from $4,500. The second greatest value Waterfront apartment is the 2 Bed 1 Bath Model at Back Bay Tower starting at $2,300 with a $2.53 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 | Market Rate 3 Bedroom Townhome | 3BR,2BA | $2.32 |
| Back Bay Tower | 2 Bed 1 Bath | 2BR,1BA | $2.53 |
| Summit Terrace | 2 Bed | 2BR,1BA | $2.31 |
| 11 Ponce St, Unit 1 | 11 Ponce St | 2BR,1BA | $2.72 |
| The Linden | Two Bedroom | 2BR,1BA | $3.26 |
| 11 Shepley St | 1Bedroom | 1BR,1BA | $3.70 |
| The Casco | The Casco - Back Bay | Studio ,1BA | $5.63 |
| 33 Atlantic St, Unit 3 | 33 Atlantic St | 1BR,1BA | $9.60 |
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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Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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Pet Friendly LifestyleWaterfront, Portland, ME
Ranked #16
Among cities in Maine for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet 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
What is the Cheapest Studio apartment in Waterfront?
Currently the most affordable Cheap Studio Apartment in Waterfront is at The Casco listed at $1,990.
How much is rent for a Cheap One Bedroom Waterfront Apartment?
The lowest price for a Cheap One Bedroom Waterfront Apartment is $1,850 at 11 Shepley St.
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 $2,079 at Summit Terrace.
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
Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.
Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.