Cheap Apartments for Rent in Portland, OR from $300 (1,559 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 - $1,645
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Total Monthly Price

Base Rent
$899 - $1,645
Total Monthly Price
$899 - $1,645
Studio to 2 Bedroom Apartments Available Now

Koz on Killingsworth

151 N Killingsworth StPortland, OR 97217
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Koz on 4th
$925 - $1,325
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Total Monthly Price

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$925 - $1,325
Total Monthly Price
$925 - $1,325
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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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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Park Plaza
$982 - $2,440
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$982 - $2,440
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Studio to 2 Bedroom Apartments Available Now

Park Plaza

1969 SW Park AvePortland, OR 97201
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Koz on 13th
Rent Specials
$994 - $1,530
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Total Monthly Price

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$994 - $1,530
Total Monthly Price
$994 - $1,530
Studio to 1 Bedroom Apartments Available Now

Koz on 13th

123 SE 13th AvePortland, OR 97214
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The Fredrick
Rent Specials
$995 - $1,515
Total Monthly Price

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
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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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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: 05/05/2026

Current apartment rentals in the Portland, OR area range in price from $470 to $14,102 with an overall median price of $3,572. The three Portland neighborhoods with the lowest median rent pricing are Glenfair at $995, Rose City Park at $825, and South Tabor at $1,250. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Glenfair$1,395$9956
Rose City Park$1,400$82565
South Tabor$1,450$1,2501
Piedmont$1,495$1,0004
Parkrose$1,509$1,28010
Hayhurst$1,560$1,2455
Mill Park$1,565$1,1253
Hillside$1,576$90022
Powellhurst-Gilbert$1,597$1,02547
Foster Powell$1,645$1,2507

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 Apartments 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 Apartments0x1Studio,1BA$500
Las AdelitasStudio - 30% AMI PSHStudio,1BA$619
MILEPOST 5Studio Just SinkStudio,$630
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Hayu TilixamOne Bedroom1BR,1BA$650
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$729
Rockwood Landing2X1- 40% LIHTC2BR,1BA$785
Hamilton WestEff StudioStudio,1BA$789
Society 62Private Room w/Bath1BR,1BA$795

Best Value Apartments for Rent in Portland, OR

As of May 05, 2026 the best value apartment in the Portland area is the $1.08 price per square foot 3 Bed Model at 1814 SE Madison St in the in the Southeast Portland neighborhood starting from $2,795. The second greatest value Portland apartment is the 3BD/3BTH Model at Cedar Tree starting at $1,950 with a $1.18 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.
1814 SE Madison St3 Bed3BR,1BA$1.08
Cedar Tree3BD/3BTH3BR,3BA$1.18
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Belmont Dairy Apartments and LoftsStudio LoftStudio ,1BA$0.85
ROSEWOOD STATION3/23BR,2BA$1.27
Country Oaks2 BEDROOM2BR,1BA$1.32
Firwood Station2 Bed 1 Bath2BR,1BA$1.21
Rockwood Landing2X1- 40% LIHTC2BR,1BA$0.86
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
Crofton Apartments2BD/1BTH2BR,1BA$1.29

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

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10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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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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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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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 $795.

What is the price of a cheap apartment in Portland?

The cheapest apartment in Portland is Hayu Tilixam which is listed at $650, while the average apartment in Portland costs $3,572.

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 10,342 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 $431 which is $3,141 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.

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.

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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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.