Cheap Apartments for Rent in Portland, OR from $500 (1,951 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
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.

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.

Read Article

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.

Read Article

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.

Read Article

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.

Read Article

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
Showing Results 1-50, Page 1 of 40

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: 01/15/2026

Current apartment rentals in the Portland, OR area range in price from $619 to $15,445 with an overall median price of $3,653. The three Portland neighborhoods with the lowest median rent pricing are North Gresham at $999, Mill Park at $1,100, and Glenfair at $1,050. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
North Gresham$1,287$9991
Mill Park$1,395$1,1007
Glenfair$1,495$1,0505
South Tabor$1,495$1,2751
Rose City Park$1,536$75057
Parkrose$1,588$95035
Brentwood Darlington$1,649$1,49910
Mt Scott Arleta$1,650$1,2954
Outer Southeast$1,657$1,06633
Gateway$1,671$799105

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a Studio unit found at Las Adelitas in the Cully neighborhood priced from $619. MILEPOST 5 in the Southeast Portland neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $630. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Las AdelitasStudio - 30% AMIStudio,1BA$619
MILEPOST 5Studio Just SinkStudio,$630
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Villas de Mariposas2 Bedroom 1 Bath2BR,1BA$658
Hayu TilixamTwo Bedroom2BR,2BA$668
Fountain Place ApartmentsMicro StudioStudio,1BA$680
Gretchen Kafoury CommonsStudio 40%Studio,1BA$702
Society 62Private Room1BR,$750
Hamilton WestEff StudioStudio,1BA$757
Cedar Grove ApartmentsTWO BEDROOM2BR,1BA$762

Best Value Apartments for Rent in Portland, OR

As of January 15, 2026 the best value apartment in the Portland area is the $1.25 price per square foot 2124 SE Elliott Ave Model at 2124 SE Elliott Ave, Unit 1 in the in the Southeast Portland neighborhood starting from $3,500. 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.
2124 SE Elliott Ave, Unit 12124 SE Elliott Ave2BR,2BA$1.25
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
12645 NE Fremont St, Unit Pet friendly and spacious12645 NE Fremont St1BR,1BA$1.29
Chelsey Lane Apartments0503x23BR,2BA$1.29
Plaza de Cedro3 bedroom3BR,2BA$1.10
Melrose Court ApartmentsTwo Bedroom2BR,1BA$1.18
Villas de Mariposas2 Bedroom 1 Bath2BR,1BA$0.82
Villa de Clara Vista3 Bedroom 1 Bath PBV 50% AMI3BR,1BA$1.28
Firwood Station2 Bed 1 Bath2BR,1BA$1.21
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

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.

Read Article
Decorative image

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.

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

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 $762.

What is the price of a cheap apartment in Portland?

The cheapest apartment in Portland is Hayu Tilixam which is listed at $750, while the average apartment in Portland costs $3,653.

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 9,032 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 $456 which is $3,197 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 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.

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 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.

Articles, How-To's, and Tips

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!