537 Congress St
PortlandME04101
Cheap Homes for Rent in Waterfront Neighborhood of Portland, ME from $1,700 (1 Rental)
Search the lowest-cost Homes available for rent right now in the Waterfront area of Portland.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
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Waterfront, Portland, ME Local Guide
How much does it cost to rent a home in Waterfront?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Waterfront 2 Bedroom Homes for Rent | $6,750 | $6,000 | $7,500 |
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Waterfront, Portland, ME Local Guide
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Best Value Apartments for Rent in Waterfront, ME
As of May 09, 2026 the best value apartment in the Waterfront area is the $2.64 price per square foot 2 Bed 1 Bath Model at Back Bay Tower in the in the Downtown Portland neighborhood starting from $2,400. The second greatest value Waterfront apartment is the 2 Bed Model at Summit Terrace starting at $2,145 with a $2.38 price per square foot in the Downtown 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. |
|---|---|---|---|
| Back Bay Tower | 2 Bed 1 Bath | 2BR,1BA | $2.64 |
| Summit Terrace | 2 Bed | 2BR,1BA | $2.38 |
| 29 Turner St, Unit 3 | 29 Turner St | 1BR,1BA | $2.61 |
| 8 Quebec St, Unit 1 | 8 Quebec St | 2BR,1BA | $3.30 |
| 89 Anderson | 89 Anderson 1BD Plan F | 1BR,1BA | $3.60 |
| 117 Lofts | Studio | Studio ,1BA | $3.96 |
| The Casco | The Casco - Deer Isle | Studio ,1BA | $5.60 |
| The Linden | Studio/Efficiency | 1BR,1BA | $6.04 |
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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Real 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
Frequently Asked Questions about Waterfront
What type of rentals are currently available in Waterfront?
There are currently 227 Apartments for Rent in Waterfront, ME with pricing that ranges from $1,610 to $3,500. There are also 4 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterfront ranging from $1,732 to $7,500.
What is the current price range for Rental Homes in Waterfront?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Waterfront ranges from $1,732 to $7,500 with an average monthly rent of $4,648.
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
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.