Cheap Apartments for Rent in Portland, OR from $300 (1,575 Rentals)

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

From Arts to Eats: A Local Insider's Guide to Living in Portland's Best Spots

Discover the true heart of Portland, Oregon, with this local expert's guide. Explore the city's unique history, from the coin toss that named it to its "Keep Portland Weird" culture, and get an insider look at its most notable neighborhoods and internationally recognized food scene.

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Koz on 4th
Rent Specials
$899 - $1,425
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Total Monthly Price

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$899 - $1,425
Total Monthly Price
$899 - $1,425
Studio to 1 Bedroom Apartments Available Now

Koz on 4th

2211 SW 4th AvePortland, OR 97201
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Koz on Killingsworth
Rent Specials
$899 - $1,595
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$899 - $1,595
Total Monthly Price
$899 - $1,595
Studio to 2 Bedroom Apartments Available Now

Koz on Killingsworth

151 N Killingsworth StPortland, OR 97217
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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.

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Portland’s Best Affordable Neighborhoods

Learn about Portland and the best places to live with original content written by our Portland, OR Local Expert Chad Deitchley

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The Addy
Rent Specials
$976 - $2,437
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$976 - $2,437
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Studio to 2 Bedroom Apartments Available Now

The Addy

1222 NW 18th AvePortland, OR 97209
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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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The Fredrick
$995 - $1,515
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Total Monthly Price

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$995 - $1,515
Total Monthly Price
$995 - $1,515
Studio to 2 Bedroom Apartments Available Now

The Fredrick

3010-3106 SW 10th AvePortland, OR 97239
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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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Portland, OR Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Portland, OR

Pricing Updated: 08/09/2026

Current apartment rentals in the Portland, OR area range in price from $470 to $13,770 with an overall median price of $1,724. The three Portland neighborhoods with the lowest median rent pricing are Center at $1,125, North Tabor at $1,125, and Rose City Park at $1,125. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Center$1,125$93559
North Tabor$1,125$93541
Rose City Park$1,125$93546
Roseway$1,125$619204
Gateway$1,150$799145
Hazelwood-Mill Park$1,150$799124
Kenton$1,185$97554
Maywood Park$1,200$619161
Parkrose Heights$1,226$799185
Argay$1,230$799164

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a Studio unit found at Helen Swindells Building in the Pearl District neighborhood priced from $500. Pine Point Apartments in the East Portland neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $562. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Helen Swindells Building0x1Studio,1BA$500
Pine Point Apartments1x11BR,1BA$562
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Center Villageb2.12BR,1BA$650
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$729
Rockwood Landing2X1- 40% LIHTC2BR,1BA$785
Hamilton WestHamilton West: Your Urban Oasis in PortlandStudio,1BA$789
Buri BuildingStudio SIMStudio,1BA$799
Margaret Carter PlazaStudio HUD UnitStudio,1BA$800
SM Multnomah Manor1X1- 50% HUD1BR,1BA$822

Best Value Apartments for Rent in Portland, OR

As of August 09, 2026 the best value apartment in the Portland area is the $1.06 price per square foot 2169 NW Irving St Model at 2169 NW Irving St, Unit #10 in the in the Northwest Portland neighborhood starting from $2,650. The second greatest value Portland apartment is the Studio Model at Z_Caritas Sacred Heart Villa starting at $1,438 with a $0.96 price per square foot in the Southeast Portland neighborhood. Here is today’s list of the best values for Portland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2169 NW Irving St, Unit #102169 NW Irving St2BR,1BA$1.06
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Rosewood Station2/22BR,2BA$1.28
Crown Point Apartments2 Beds, 1 Baths2BR,1BA$1.27
Townhouse VillaTownhouse2BR,1BA$1.25
Rockwood Landing2X1- 40% LIHTC2BR,1BA$0.86
Halsey Summit Apartments2 Bedroom, 1 Bath2BR,1BA$1.30
Center Villageb2.12BR,1BA$0.75
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
Pine Point Apartments1x11BR,1BA$0.81

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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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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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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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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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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Portland Overview

Named after its sister-city in coastal Maine, Portland, Oregon is a wonderful place to live. This Pacific Northwest hub has evolved into a popular center for visitors and locals and is considered a cosmopolitan, artistic, progressive and very environmentally friendly city. With a community of approximately 640,000 residents, Portland has become known for its reputation as a bastion of counterculture and its liberal political values. Portland is one of the greenest places to live, it is often awarded “most green cities” and “Greenest City in the U.S.”, it scored as the “8th most popular American City to live” in the 1009 Pew Research Center study, and in 2008 was awarded the title of “Greenest City in America” by Popular Science.

Why live in Portland, OR?

Known affectionately as 'The City of Roses', Portland apartments have much more than simple natural beauty to offer residents. From nationally-known culinary hot spots to a huge assortment of cultural destinations ranging from art galleries to museums, this north-western city is a great place to call home

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Portland, OR Rentals by Map

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See the most popular apartments and homes in Portland, OR

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Frequently Asked Questions about Cheap Portland Apartments

What is a cheap apartment in Portland?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Portland is under $822.

What is the price of a cheap apartment in Portland?

The cheapest apartment in Portland is Pine Point Apartments which is listed at $562, while the average apartment in Portland costs $1,724.

What types of apartments are the cheapest in Portland?

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 6,342 regular apartments in Portland 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 Portland?

Cheap apartments in Portland have an average cost of $402 which is $1,322 cheaper than the average rent for all rentals in Portland.

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.

Helpful Local Expert Guides

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From Arts to Eats: A Local Insider's Guide to Living in Portland's Best Spots

Written by: Chad Deitchley

Hello! My name is Chad, and I am your ApartmentHomeLiving.com Local Expert for Portland, Oregon. After living in this one-of-a-kind city for more than 20 years, I have seen it change in many exciting ways.

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

Written by: Chad Deitchley

Let me introduce myself as your ApartmentHomeLiving Local Expert for Portland, Oregon. I’m Chad, and I can attest firsthand to the vibrant and funky nature of this one-of-a-kind city.

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

Written by: Chad Deitchley

Hello! My name is Chad, and I joined the ApartmentHomeLiving.com team as a Local Expert after living in Portland, Oregon, for more than 20 years. I have a deep love for this charming and vibrant city.

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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.

Articles, How-To's, and Tips

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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.

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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.

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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.

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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.