
Cheap Homes for Rent near Portland, MO from $500 (15 Rentals)
Search the lowest-cost Homes available for rent right now in Portland.


254 Commercial Dr

260 Commercial Dr

206 Commercial Dr

2003 Sunset Dr.
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.

1512 Monroe St

1514 Monroe St

216 Rollins St

1607 W Main St

821 Court St
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.

307 E Promenade St

1904 Springdale Ct

1822 Springdale Ct

904 Springfield Rd

518 Kinleigh Dr
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.
Portland, MO Local Guide

How much does it cost to rent a home in Portland?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Portland 2 Bedroom Homes for Rent | $883 | $525 | $1,450 |
| Portland 3 Bedroom Homes for Rent | $1,512 | $1,000 | $2,750 |
| Portland 4 Bedroom Homes for Rent | $2,155 | $1,200 | $5,500 |
Browse Top Homes for Rent in Portland
Explore Portland
Portland, MO Local Guide
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Cheapest Available Portland Apartments for Rent and Nearby
 The cheapest available apartment rental in Portland, MO is a 1 Bed unit found at Schrimpf Management priced from $550. The Links at Columbia in the The Links of Columbia neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $800. Here is today’s list of the most affordable Portland apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Schrimpf Management | 1 Bedroom Apartments | 1BR,1BA | $550 |
| The Links at Columbia | Classic Deluxe II | 1BR,1BA | $800 |
| Forest Village Apartments | 2 Bedroom | 2BR,1BA | $825 |
| Grindstone at Columbia | 2BR/2BA | 2BR,2BA | $880 |
| Stadium Apartments | The Greenbriar | 2BR,1BA | $970 |
Best Value Apartments for Rent in Portland, MO and Nearby
As of July 12, 2026 the best value apartment in the Portland area is the $0.49 price per square foot The Faurot Model at State Columbia in the starting from $835. The second greatest value Portland apartment is the 2 Bedroom Townhome Model at deVille I Properties LLC starting at $1,210 with a $0.82 price per square foot . Here is today’s list of the best values for Portland apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| State Columbia | The Faurot | 3BR,3.5BA | $0.49 |
| deVille I Properties LLC | 2 Bedroom Townhome | 2BR,1.5BA | $0.82 |
| Wellington Manor | 2 BR | 2BR,2BA | $1.22 |
| Broadway Village Apartments | Model | 2BR,1BA | $1.38 |
| Grindstone at Columbia | 2BR/2BA | 2BR,2BA | $0.85 |
| Schrimpf Management | 1 Bedroom Apartments | 1BR,1BA | $0.58 |
| Forest Village Apartments | 2 Bedroom | 2BR,1BA | $1.00 |
| Aria Discovery LLC | Crescendo | 1BR,1BA | $2.07 |
| Stadium Apartments | The Greenbriar | 2BR,1BA | $1.33 |
| The Links at Columbia | Classic Deluxe II | 1BR,1BA | $1.47 |
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 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.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Portland, MO Rentals by Map
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Frequently Asked Questions about Portland
What type of rentals are currently available in Portland?
There are currently 36 Apartments for Rent in Portland, MO with pricing that ranges from $510 to $2,775. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in Portland ranging from $525 to $5,500.
What is the current price range for Rental Homes in Portland?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Portland ranges from $525 to $5,500 with an average monthly rent of $1,320.
How much are larger Three and Four Bedroom Rentals in Portland?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Portland range from $542 to $2,775, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,000 to $2,750. Four Bedroom Single-Family rentals are also available starting from $1,200 and Four Bedroom Apartments start at $609.
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

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.