Cheap Apartments for Rent in the Alameda Neighborhood of Portland, OR from $600 (204 Rentals)

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

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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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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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.

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Rent Specials
$1,199 - $1,720Studio to 2 Bedroom Apartments Available Now

Union

304 NE Multnomah StPortland, OR 97232
Transit Friendly
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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 2 Beds unit found at Hayu Tilixam priced from $668. Society 62 has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here are the most affordable Alameda apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Hayu TilixamTwo Bedroom2BR,2BA$668
Society 62Private Room w/Bath1BR,1BA$700
5th Avenue Place ApartmentsStudioStudio,1BA$795
Albina Plaza0 Bedroom 1 BathStudio,1BA$856
The Village Coliving Community1BR/1.0BA1BR,1BA$875
Maya Angelou1 Bedroom 1 Bath1BR,1BA$885
Zeal LoftsStudio 3Studio,1BA$895
The Yards at Union StationSTUDIO BStudio,1BA$900
Pacific Tower ApartmentsStudioStudio,1BA$900
Dekum CourtStudio NON-SUBSIDIZED1BR,1BA$941

Best Value Apartments for Rent in Alameda, OR

As of November 09, 2025 the best value apartment in the Alameda area is the $1.14 price per square foot 3 Bedroom 1.5 Baths PBV unit at 30% AMI Model at Villa de Suenos in the in the Cully neighborhood starting from $1,267. The second greatest value Alameda apartment is the 3 Bedroom 1 Bath Model at Los Jardines de la Paz starting at $1,267 with a $1.19 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.
Villa de Suenos3 Bedroom 1.5 Baths PBV unit at 30% AMI3BR,1.5BA$1.14
Los Jardines de la Paz3 Bedroom 1 Bath3BR,1BA$1.19
5404 NE 54th Ave, Unit B5404 NE 54th Ave1BR,1BA$1.74
Churchill Downs ApartmentsOne Bed1BR,1BA$1.73
L Roy GardensTwo Bedroom One Bathroom HUD Unit2BR,1BA$1.56
Albina Plaza0 Bedroom 1 BathStudio ,1BA$1.43
Maya Angelou1 Bedroom 1 Bath1BR,1BA$1.49
Dawson Park Apartments1 Bdrm1BR,1BA$1.62
Kimberly Court1BR/1.0BA1BR,1BA$1.69
5th Avenue Place ApartmentsStudioStudio ,1BA$1.67

The Portland Power Commute: Top Neighborhoods for Renters Near the City’s Major Job Hubs

Balance work and life in Portland. Explore the neighborhoods for renting that offer great amenities and quick commutes to the city's top major employers. Find your Portland apartment today!

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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.

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The 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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A Local Experts Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Portland

A Local Experts guide to the Best Student Friendly Neighborhoods Near Colleges in the Portland area. Find your perfect Student apartment, condo, or rental home today

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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 #14

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 $941.

What is the price of a cheap apartment in Alameda?

The cheapest apartment in Alameda is Society 62 which is listed at $700, while the average apartment in Alameda costs $12,606.

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 84 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 $133 which is $12,473 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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.