Cheap Apartments for Rent in Portland, OR from $300 (1,602 Rentals)

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

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.

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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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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 Contact Us For Availability

Koz on Killingsworth

151 N Killingsworth StPortland, OR 97217
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Park Plaza
$916 - $2,426
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$916 - $2,426
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Studio to 2 Bedroom Apartments Available Now

Park Plaza

1969 SW Park AvePortland, OR 97201
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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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Koz on 4th
Rent Specials
$949 - $1,375
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$949 - $1,375
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$949 - $1,375
Studio to 1 Bedroom Apartments Available Now

Koz on 4th

2211 SW 4th AvePortland, OR 97201
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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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The Fredrick
Rent Specials
$995 - $1,515
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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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Showing Results 1-50, Page 1 of 33

Portland, OR Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Portland, OR

Pricing Updated: 06/24/2026

Current apartment rentals in the Portland, OR area range in price from $320 to $12,167 with an overall median price of $3,513. The three Portland neighborhoods with the lowest median rent pricing are South Tabor at $1,199, Piedmont at $1,000, and Glenfair at $995. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
South Tabor$1,247$1,1992
Piedmont$1,350$1,0002
Glenfair$1,399$9956
Rose City Park$1,400$82564
Ashcreek$1,495$1,17520
Madison South$1,550$1,19913
Central Park$1,565$1,26510
Foster Powell$1,649$8959
Mt Scott Arleta$1,649$1,0256
Summit Park$1,661$1,26526

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a Studio unit found at Waterleaf in the Southwest Portland neighborhood priced from $480. Helen Swindells Building in the Pearl District neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $500. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
WaterleafStudioStudio,1BA$480
Helen Swindells Building0x1Studio,1BA$500
Center Villageb2.12BR,1BA$621
Merlo StationStudioStudio,1BA$640
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
East Stark ApartmentsStudioStudio,1BA$700
Rockwood Landing2X1- 40% LIHTC2BR,1BA$785
Hamilton WestHamilton West: Your Urban Oasis in PortlandStudio,1BA$789
Society 62Private Room w/Bath1BR,1BA$795
Buri BuildingStudio SIMStudio,1BA$799

Best Value Apartments for Rent in Portland, OR

As of June 24, 2026 the best value apartment in the Portland area is the $1.14 price per square foot 2 Bedroom 2 Bathroom Apartment R Model at Creekside Village in the in the North Portland neighborhood starting from $1,649. The second greatest value Portland apartment is the 4 Bed 2 Bath PBV 60% MTSP Rent Limit Model at Clara Vista Townhomes starting at $1,696 with a $1.20 price per square foot in the Cully 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.
Creekside Village2 Bedroom 2 Bathroom Apartment R2BR,2BA$1.14
Clara Vista Townhomes4 Bed 2 Bath PBV 60% MTSP Rent Limit4BR,2BA$1.20
Madera Court Apartments3x23BR,2BA$1.28
Crown Point Apartments2 Beds, 1 Baths2BR,1BA$1.27
Firwood Station2 Bed 1 Bath2BR,1BA$1.21
View North Apartments2 Beds, 1 Baths2BR,1BA$1.26
Townhouse VillaTownhouse2BR,1BA$1.25
Rockwood Landing2X1- 40% LIHTC2BR,1BA$0.86
seaside011BR/1.0BA1BR,1BA$1.29
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03

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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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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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 $799.

What is the price of a cheap apartment in Portland?

The cheapest apartment in Portland is Society 62 which is listed at $795, while the average apartment in Portland costs $3,513.

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 7,267 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 $423 which is $3,090 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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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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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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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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From Arts to Eats: A Local Insiders 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.

Articles, How-To's, and Tips

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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.

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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.

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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.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.