Cheap Apartments for Rent in Portland, OR from $470 (1,902 Rentals)

How Many Bedrooms?Done
Price OptionsDone
Price Range
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

close
View Me
920 NW naito pkwy #j20
$150 - $2,250

Total Monthly Price

Base Rent$150 - $2,250
Total Monthly Price$150 - $2,250
1 to 2 Bedroom Apartment Available Now

920 NW naito pkwy #j20

920 NW naito pkwy #j20Portland, OR 97209
Furnished

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.

Read Article
close
View Me
Koz on 4th
Rent Specials
$899 - $1,325

Total Monthly Price

Base Rent$899 - $1,325
Total Monthly Price$899 - $1,325
Studio to 1 Bedroom Apartments Available Now

Koz on 4th

2211 SW 4th AvePortland, OR 97201
Affordability
  • Verified
  • Utilities Included
  • 3D Tour

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.

Read Article
close
View Me
Koz on 13th
Rent Specials
$925 - $1,329

Total Monthly Price

Base Rent$925 - $1,329
Total Monthly Price$925 - $1,329
Studio to 1 Bedroom Apartments Available Now

Koz on 13th

123 SE 13th AvePortland, OR 97214
Corporate Housing
  • Verified
  • 3D Tour

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

Read Article

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.

Read Article
close
View Me
The Addy
Rent Specials
$970 - $2,507

Total Monthly Price

Base Rent$970 - $2,507
Total Monthly PriceVaries
Studio to 2 Bedroom Apartments Available Now

The Addy

1222 NW 18th AvePortland, OR 97209
Transit Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour
close
View Me
The Fredrick
$995 - $1,515

Total Monthly Price

Base Rent$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
Affordability
  • Verified
  • Customer Reviewed
  • 3D Tour

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.

Read Article
Showing Results 1-50, Page 1 of 39

Portland, OR Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Portland, OR

Pricing Updated: 09/27/2026

Current apartment rentals in the Portland, OR area range in price from $150 to $16,705 with an overall median price of $1,732. The three Portland neighborhoods with the lowest median rent pricing are Montavilla at $977, 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
Montavilla$977$97739
North Tabor$1,125$93538
Rose City Park$1,125$93550
Kenton$1,185$95033
Center$1,200$93571
Roseway$1,200$619234
Maywood Park$1,233$619175
Hazelwood-Mill Park$1,246$572154
Argay$1,249$799150
Gateway$1,249$572174

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a Studio unit found at Wy'East Plaza in the East Portland neighborhood priced from $572. Waterleaf in the Southwest Portland neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $572. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Wy'East PlazaStudioStudio, 1BA$572
WaterleafStudioStudio, 1BA$572
Modern Rich Apartments0BR/1.0BAStudio, 1BA$649
Center Villageb2.12BR, 1BA$650
Las Adelitas1 Bedroom 1 Bath - 30% AMI1BR, 1BA$698
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR, 1BA$729
Ainsworth St - Rooms for Rent1BR/1.0BA1BR, 1BA$750
Rockwood Landing2X1- 40% LIHTC2BR, 1BA$785
Buri BuildingStudio SIMStudio, 1BA$799

Best Value Apartments for Rent in Portland, OR

As of September 27, 2026 the best value apartment in the Portland area is the $1.11 price per square foot 3x2.5 Model at The Willows in the East Portland neighborhood starting from $2,395. The second greatest value Portland apartment is the Studio Model at Z_Caritas Sacred Heart Villa in the Southeast Portland neighborhood starting at $1,438 with a $0.96 price per square foot. 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$1.11
Z_Caritas Sacred Heart VillaStudioStudio, 1BA$0.96
Clara Vista Townhomes4 Bed 2 Bath PBV 40% MTSP Rent Limit4BR, 2BA$0.80
Miraflores3 bed 1 bath 50% HOME Low3BR, 1BA$0.70
Los Jardines de la Paz3 Bedroom 1 Bath3BR, 1BA$1.19
4311 Plomondon St, Unit 24311 Plomondon St2BR, 1.5BA$1.25
eastburn2BR/1.0BA2BR, 1BA$1.22
Rockwood Landing2X1- 40% LIHTC2BR, 1BA$0.86
Center Villageb2.12BR, 1BA$0.75
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!

Read Article
Decorative image

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.

Read Article
Decorative image

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

Read Article
Decorative image

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.

Read Article

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

Decorative image of map

See the most popular apartments and homes in Portland, OR

View Map
Portland, OR Apartments Map
View Map
Portland, OR Rental Homes Map

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 Las Adelitas which is listed at $698, while the average apartment in Portland costs $1,732.

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 7,802 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 $447 which is $1,285 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

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

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.

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

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.

decorative image for Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Portland article

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.

decorative image for A Portland Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent article

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

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.

decorative image for How Commercial-to-Residential Property Conversions Help the Housing Crisis article

How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.