2043 NW Johnson St
PortlandOR97209
Cheap Homes for Rent in Downtown Neighborhood of Portland, OR from $600 (8 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown area of Portland.
20 NW 16th Ave
PortlandOR97209
801 SW Green Ave
PortlandOR97205
601 NW 22nd Ave
PortlandOR97210
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
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$1,2751 Bedroom Apartments Available Jun 5
2234-2238 SW Vista Ave, Unit 6
2234-2238-2238 SW Vista AvePortland, OR 97201
111 SW Harrison St
PortlandOR97201
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$1,2951 Bedroom Apartments Available Now
1943 NW Irving St, Unit 101
1943 NW Irving StPortland, OR 97209
2333 SW 6th Ave
PortlandOR97201
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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Downtown, Portland, OR Local Guide
How much does it cost to rent a home in Downtown?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown 2 Bedroom Homes for Rent | $2,524 | $1,895 | $3,995 |
| Downtown 3 Bedroom Homes for Rent | $3,118 | $1,987 | $4,250 |
| Downtown 4 Bedroom Homes for Rent | $3,995 | $3,995 | $3,995 |
Browse Homes for Rent in this Neighborhood
There are currently 8 rentals with your search options within a 2 mile radius of the Downtown Neighborhood of Portland, OR.
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Cheapest Available Downtown Apartments for Rent
The cheapest available apartment rental in the Downtown area of Portland, OR is a Studio unit found at Waterleaf priced from $480. Helen Swindells Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $500. Here are the most affordable Downtown apartments for rent in Portland, OR:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Waterleaf | Studio | Studio,1BA | $480 |
| Helen Swindells Apartments | 0x1 | Studio,1BA | $500 |
| Modern Rich Apartments | 0BR/1.0BA | Studio,1BA | $649 |
Best Value Apartments for Rent in Downtown, OR
As of May 31, 2026 the best value apartment in the Downtown area is the $2.02 price per square foot St. John 1x2 B Model at Honeyman Hardware Lofts in the in the Pearl District neighborhood starting from $3,622. The second greatest value Downtown apartment is the Two Bedroom Model at Gallery Park Apartments starting at $1,750 with a $1.46 price per square foot in the Northwest Portland neighborhood. Here is today’s list of the best values for Downtown apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Honeyman Hardware Lofts | St. John 1x2 B | 1BR,2BA | $2.02 |
| Gallery Park Apartments | Two Bedroom | 2BR,2BA | $1.46 |
| Goose Hollow Townhomes | 2BR/2.0BA | 2BR,2BA | $2.06 |
| Portland Terrace | 2 bedroom 1 bath | 2BR,1BA | $1.72 |
| Everett Station Lofts | 105 | 1BR,1BA | $2.06 |
| Waterleaf | 1 Bedroom 1 Bath | 1BR,1BA | $1.83 |
| Manhattan Apartments | Lower Manhattan -Large | 1BR,1BA | $1.93 |
| Worthington | 1BR (622sq ft '09s) | 1BR,1BA | $1.97 |
| Westfal Apartments | One Bedroom | 1BR,1BA | $1.71 |
| Rena Villa | 1x1 | 1BR,1BA | $1.91 |
Frequently Asked Questions about Downtown
What type of rentals are currently available in Downtown?
There are currently 519 Apartments for Rent in Downtown, OR with pricing that ranges from $470 to $12,021. There are also 40 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown ranging from $660 to $4,250.
What is the current price range for Rental Homes in Downtown?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown ranges from $660 to $4,250 with an average monthly rent of $2,549.
How much are larger Three and Four Bedroom Rentals in Downtown?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown range from $1,458 to $12,021, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,987 to $4,250. Four Bedroom Single-Family rentals are also available starting from $3,995 and Four Bedroom Apartments start at $10,000.
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
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.
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.
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.
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
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.