Cheap Homes for Rent in Downtown Portland Neighborhood of Portland, OR from $900 (18 Rentals)

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

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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property at 327 NW Park Ave

$1,595 - $2,500

1 To 2 Bedroom Rentals

Available Now

327 NW Park Ave

PortlandOR97209

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Showing Results 1-18, Page 1 of 1

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 Modern Rich Apartments priced from $649. Fountain Place Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $680. Here are the most affordable Downtown Portland apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Fountain Place ApartmentsMicro StudioStudio,1BA$680
Gretchen Kafoury CommonsStudio 40%Studio,1BA$702
Hamilton WestEff StudioStudio,1BA$757
The Yards at Union StationSTUDIO BStudio,1BA$799

Best Value Apartments for Rent in Downtown Portland, OR

As of January 19, 2026 the best value apartment in the Downtown 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 Downtown Portland apartment is the 4 Bed 4 Bath Model at 140 Sacramento Townhomes starting at $3,900 with a $1.53 price per square foot in the Northeast 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.
2124 SE Elliott Ave, Unit 12124 SE Elliott Ave2BR,2BA$1.25
140 Sacramento Townhomes4 Bed 4 Bath4BR,4BA$1.53
Gallery Park ApartmentsTwo Bedroom2BR,2BA$1.50
1223 NE Schuyler St, Unit 31223 NE Schuyler St1BR,1BA$1.48
1509 NE 10th Ave, Unit 3011509 NE 10th Ave1BR,1BA$1.82
Midtown East0x1 100Studio ,1BA$1.48
Westcott Properties1x11BR,1BA$1.54
Pine Cone Apartments1bed1bath1BR,1BA$1.62
Westfal ApartmentsOne Bedroom1BR,1BA$1.83
The Yards at Union StationSTUDIO BStudio ,1BA$1.80

Frequently Asked Questions about Downtown Portland

What type of rentals are currently available in Downtown Portland?

There are currently 532 Apartments for Rent in Downtown Portland, OR with pricing that ranges from $649 to $14,081. There are also 66 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Portland ranging from $900 to $5,000.

What is the current price range for Rental Homes in Downtown Portland?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Portland ranges from $900 to $5,000 with an average monthly rent of $2,195.

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.

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.

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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.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!