Cheap Apartments for Rent in the Alameda Neighborhood of Portland, OR from $500 (136 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Alameda area of Portland.

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Alameda, Portland, OR Local Guide

Cheapest Available Alameda Apartments for Rent

 

The cheapest available apartment rental in the Alameda area of Portland, OR is a 1 Bed unit found at Dekum Court priced from $506. Modern Rich Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $649. Here are the most affordable Alameda apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Dekum CourtStudio NON-SUBSIDIZED1BR,1BA$506
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Society 62Private Room w/Bath1BR,1BA$700
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$729
5th Avenue Place ApartmentsStudio, 1 bathStudio,1BA$795
Zeal LoftsStudio 1Studio,1BA$795
Margaret Carter PlazaOne Bathroom One Bedroom HUD Unit1BR,1BA$848
Villa de Suenos4 Bedroom 2 Baths PBV unit at 30% AMI4BR,2BA$848
Maya Angelou2 Bedroon 1 Bath2BR,1BA$878
The Yards at Union StationSTUDIO BStudio,1BA$900

Best Value Apartments for Rent in Alameda, OR

As of August 03, 2025 the best value apartment in the Alameda area is the $1.04 price per square foot 4 Bedroom 2 Baths Model at Los Jardines de la Paz in the in the Cully neighborhood starting from $1,413. The second greatest value Alameda apartment is the 4 Bedroom 2 Baths PBV unit at 30% AMI Model at Villa de Suenos starting at $848 with a $0.65 price per square foot in the Cully neighborhood. Here is today’s list of the best values for Alameda apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Los Jardines de la Paz4 Bedroom 2 Baths4BR,2BA$1.04
Villa de Suenos4 Bedroom 2 Baths PBV unit at 30% AMI4BR,2BA$0.65
555 N Simpson St, Unit UPSTAIRS555 N Simpson St2BR,1BA$1.51
3826-B NE Grand Ave, Unit B3826-B NE Grand Ave1BR,1BA$1.71
Charay Apartments1 Bed, 1 bath1BR,1BA$1.56
Dawson Park Apartments1 Bdrm1BR,1BA$1.62
Maya Angelou1 Bedroom 1 Bath1BR,1BA$1.49
Margaret Carter PlazaOne Bathroom One Bedroom HUD Unit1BR,1BA$1.47
Kimberly Court1BR/1.0BA1BR,1BA$1.69
5th Avenue Place ApartmentsStudio, 1 bathStudio ,1BA$1.67

Quick 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.

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Pet Friendly Lifestyle
Alameda, Portland, OR

Ranked #16

Among cities in Oregon for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Alameda, Portland, OR

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, and customized analysis for Northeast Central Portland, OR. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including our Star Ratings to compare for proximity to parks, luxury amenities, pet-friendly features, family-friendliness, proximity to transit, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Getting Around the Alameda Neighborhood in Portland, OR

Walk Score®

67 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

98 / 100

Biker's Paradise

Daily errands can be accomplished on a bike

Transit Score®

49 / 100

Some Transit

A few 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 Alameda Apartments

What is a cheap apartment in Alameda?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Alameda is under $900.

What is the price of a cheap apartment in Alameda?

The cheapest apartment in Alameda is Dekum Court which is listed at $506, while the average apartment in Alameda costs $4,995.

What types of apartments are the cheapest in Alameda?

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 95 regular apartments in Alameda that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Alameda?

Cheap apartments in Alameda have an average cost of $240 which is $4,755 cheaper than the average rent for all rentals in Alameda.

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.

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A Portland Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent

Written by: Chad Deitchley

As your ApartmentHomeLiving.com Local Expert for Portland, Oregon, I’d like to briefly introduce myself. My name is Chad, and I come to the ApartmentHomeLiving.com team after living in Portland for decades.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.