Cheap Homes for Rent in Downtown Portland Neighborhood of Portland, OR from $600 (19 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

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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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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property at 327 NW Park Ave

$1,595 - $2,500

1 To 2 Bedroom Rentals

Available Now

327 NW Park Ave

PortlandOR97209

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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Showing Results 1-19, Page 1 of 1

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 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
Hamilton WestEff StudioStudio,1BA$757
5th Avenue Place ApartmentsStudioStudio,1BA$795
Morrison Park Apartments0BR/1.0BAStudio,1BA$875

Best Value Apartments for Rent in Downtown Portland, OR

As of December 22, 2025 the best value apartment in the Downtown Portland area is the $1.53 price per square foot 4 Bed 4 Bath Model at 140 Sacramento Townhomes in the in the Northeast Portland neighborhood starting from $3,900. The second greatest value Downtown Portland apartment is the Two Bedroom Model at Gallery Park Apartments starting at $1,799 with a $1.50 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.
140 Sacramento Townhomes4 Bed 4 Bath4BR,4BA$1.53
Gallery Park ApartmentsTwo Bedroom2BR,2BA$1.50
1509 NE 10th Ave, Unit unit 3011509 NE 10th Ave1BR,1BA$1.82
The Russell by Trion Living1x1d1BR,1BA$1.82
Victorian Apartments1BR/1.0BA1BR,1BA$1.57
Pine Cone Apartments1bed1bath1BR,1BA$1.62
Westfal ApartmentsOne Bedroom1BR,1BA$1.83
Westcott Properties1x11BR,1BA$1.67
WaterleafStudio-60%Studio ,1BA$1.74
5th Avenue Place ApartmentsStudioStudio ,1BA$1.67

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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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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Quick Rent Budget Calculator

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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.

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Pet Friendly Lifestyle
Downtown Portland, Portland, OR

Ranked #9

Among cities in Oregon for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Downtown Portland

What type of rentals are currently available in Downtown Portland?

There are currently 533 Apartments for Rent in Downtown Portland, OR with pricing that ranges from $649 to $17,991. There are also 66 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Portland ranging from $675 to $7,500.

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 $675 to $7,500 with an average monthly rent of $2,578.

How much are larger Three and Four Bedroom Rentals in Downtown Portland?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Portland range from $1,773 to $17,991, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,099 to $4,200. Four Bedroom Single-Family rentals are also available starting from $3,450 and Four Bedroom Apartments start at $3,900.

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

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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! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.