Cheap Apartments for Rent in the Downtown Portland Neighborhood of Portland, OR from $500 (178 Rentals)

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

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Park Plaza
$1,090 - $2,372
Total Monthly Price

Total Monthly Price

Base Rent
$1,086 - $2,368
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Studio to 2 Bedroom Apartments Available Now

Park Plaza

1969 SW Park AvePortland, OR 97201
Corporate Housing
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  • 3D Tour

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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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The Addy
Rent Specials
$1,177 - $2,051
Total Monthly Price

Total Monthly Price

Base Rent
$1,177 - $2,051
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Studio to 2 Bedroom Apartments Available Now

The Addy

1222 NW 18th AvePortland, OR 97209
Transit Friendly
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Downtown Portland, Portland, OR Local Guide

Cheapest Available Downtown Portland Apartments for Rent

 

The cheapest available apartment rental in the Downtown Portland area of Portland, OR is a Studio unit found at Helen Swindells Apartments priced from $500. Modern Rich Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $649. Here are the most affordable Downtown Portland apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Helen Swindells Apartments0x1Studio,1BA$500
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Gretchen Kafoury CommonsStudio 40%Studio,1BA$702
Hamilton WestEff StudioStudio,1BA$757
Pearl CourtStudio - DStudio,1BA$789
Fifth Avenue Place ApartmentsStudio 425Studio,1BA$845
Fountain Place ApartmentsStudio - 60%Studio,1BA$860
WestshorestudioStudio,1BA$869
Morrison Park Apartments0BR/1.0BAStudio,1BA$875
Regency ApartmentsStudio AStudio,1BA$875

Best Value Apartments for Rent in Downtown Portland, OR

As of March 12, 2026 the best value apartment in the Downtown Portland area is the $1.46 price per square foot Two Bedroom Model at Gallery Park Apartments in the in the Northwest Portland neighborhood starting from $1,750. The second greatest value Downtown Portland apartment is the 2BR/1.0BA Model at Victorian Apartments starting at $1,459 with a $1.86 price per square foot in the Northwest Portland neighborhood. Here is today’s list of the best values for Downtown Portland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Gallery Park ApartmentsTwo Bedroom2BR,2BA$1.46
Victorian Apartments2BR/1.0BA2BR,1BA$1.86
Parkview Apartments1bd1ba1fl 7501BR,1BA$1.99
Bridgetown LoftsSt.Johns1BR,1BA$1.98
Westcott Properties1x11BR,1BA$1.54
Wellesley Court Apartments1BR/1.0BA1BR,1BA$2.00
Westfal ApartmentsOne Bedroom1BR,1BA$1.71
Ongford ApartmentsStudioStudio ,1BA$1.99
Fifth Avenue Place ApartmentsStudio 425Studio ,1BA$1.78
The Yards at Union StationStudio - Income RestrictedStudio ,1BA$2.02

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

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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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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, and customized analysis for Central Portland, OR. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for the best proximity to parks and outdoor amenities, luxury amenities, kid and pet-friendly communities, availability of transit options, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Portland Apartments

What is the Cheapest Studio apartment in Downtown Portland?

Currently the most affordable Cheap Studio Apartment in Downtown Portland is at Helen Swindells Apartments listed at $500.

How much is rent for a Cheap One Bedroom Downtown Portland Apartment?

The lowest price for a Cheap One Bedroom Downtown Portland Apartment is $950 at Gretchen Kafoury Commons.

What is the lowest price for a Cheap Two Bedroom Downtown Portland Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Portland is starting from $1,297 at The Yards.

What is the most affordable Downtown Portland Three Bedroom Apartment?

The best deal on a cheap Downtown Portland Three Bedroom Apartment rental is at Analog PDX and starts from $1,936.

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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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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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.

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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.