Apartments for Rent in the Downtown Neighborhood of Portland, OR Under $1,500 (139 Rentals)

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5 MLK
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from $1,499Studio to 2 Bedroom Apartments Available Now

5 MLK

5 SE Martin Luther King Jr BlvdPortland, OR 97214
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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.

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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.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Portland’s Best Affordable Neighborhoods

Learn about Portland and the best places to live with original content written by our Portland, OR Local Expert Chad Deitchley

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Downtown, Portland, OR Local Guide

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.

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Frequently Asked Questions about Downtown

How much are Studio apartments in Downtown?

There are currently 183 Studio Apartments in Downtown with rent ranges from $649 to $6,283 with an average price of $1,501.

What is the current price range for One Bedroom Downtown Apartments for rent?

Today's rental pricing for One Bedroom Apartments in Downtown ranges from $675 to $6,370 with an average monthly rent of $1,921.

What does renting a Two Bedroom Apartment in Downtown cost?

The monthly rent prices of Two Bedroom Apartments currently available in Downtown range from $1,095 to $10,000. Today's average rental price for Two Bedrooms here is $2,780.

How expensive are Downtown Three Bedroom Apartments?

There are currently 29 Three Bedroom Apartments listings available in Downtown on ApartmentHomeLiving.com. The pricing ranges from $1,773 to $26,948 - averaging $5,982 for the location.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.