Cheap Apartments for Rent in Portland, OR from $500 (1,727 Rentals)

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

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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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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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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Portland, OR Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Portland, OR

Pricing Updated: 07/05/2025

Current apartment rentals in the Portland, OR area range in price from $502 to $24,496 with an overall median price of $2,724. The three Portland neighborhoods with the lowest median rent pricing are Mill Park at $1,125, Montavilla at $700, and South Tabor at $1,295. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Mill Park$1,395$1,12512
Montavilla$1,470$70052
South Tabor$1,495$1,2952
Foster Powell$1,595$1,2255
Hazelwood-Mill Park$1,604$934113
Sunnyside$1,625$1,25810
Gateway$1,626$934129
Centennial$1,634$99552
Concordia$1,639$5025
Glenfair$1,649$9959

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a 1 Bed unit found at Dekum Court in the Northeast Portland neighborhood priced from $506. Emmons Place in the Northwest Portland neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $579. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Dekum CourtStudio NON-SUBSIDIZED1BR,1BA$506
Emmons PlaceSTUDIOSStudio,1BA$579
Las AdelitasStudio - 30% AMIStudio,1BA$619
MILEPOST 5SROStudio,$620
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Society 62Private Room w/Bath1BR,1BA$700
Fountain Place ApartmentsStudio - 60%Studio,1BA$737
Gretchen KafouryGretchen Kafoury Commons—Your ideal oasis in th...Studio,1BA$757
Hamilton WestHamilton West: Your Urban Oasis in PortlandStudio,1BA$757
5th Avenue Place ApartmentsStudio, 1 bathStudio,1BA$795

Best Value Apartments for Rent in Portland, OR

As of July 05, 2025 the best value apartment in the Portland area is the $1.06 price per square foot 3x2.5 Model at The Willows in the in the East Portland neighborhood starting from $2,295. The second greatest value Portland apartment is the 2BR/1.0BA Model at The Sandpiper starting at $1,495 with a $0.83 price per square foot in the East 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.
The Willows3x2.53BR,2.5BA$1.06
The Sandpiper2BR/1.0BA2BR,1BA$0.83
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Creekside Village2 Bedroom 2 Bathroom Apartment R2BR,2BA$1.17
Villa de Suenos4 Bedroom 2 Baths PBV unit at 30% AMI4BR,2BA$0.65
Lincoln Townhomes2 Bedroom 1.5 Bath sm2BR,1.5BA$1.30
Plaza de Cedro3 bedroom3BR,2BA$1.10
Los Jardines de la Paz3 Bedroom 1 Bath3BR,1BA$1.19
Quail Run Apartments2x1 Townhome2BR,1BA$1.33
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03

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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

Pet Friendly Lifestyle
Portland, OR

Ranked #1

Among cities in Oregon for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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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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Getting Around Portland, OR

Walk Score®

75 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

85 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

54 / 100

Good Transit

Many 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 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 $795.

What is the price of a cheap apartment in Portland?

The cheapest apartment in Portland is Dekum Court which is listed at $506, while the average apartment in Portland costs $2,724.

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 7,117 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 $436 which is $2,288 cheaper than the average rent for all rentals in Portland.

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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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.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.