2043 NW Johnson St
PortlandOR97209
Cheap Homes for Rent in Downtown Neighborhood of Portland, OR from $900 (6 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown area of Portland.
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.
2066 NW Irving St
PortlandOR97209
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.
1631 NW Everett St
PortlandOR97209
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.
20 NW 16th Ave
PortlandOR97209
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
1811 NW Couch St
PortlandOR97209
111 SW Harrison St
PortlandOR97201
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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 | $2,136 | $1,795 | $2,495 |
| Downtown 3 Bedroom Homes for Rent | $3,597 | $1,995 | $5,200 |
| Downtown 4 Bedroom Homes for Rent | $7,316 | $2,950 | $10,000+ |
| Downtown 5 Bedroom Homes for Rent | $3,950 | $3,950 | $3,950 |
Browse Homes for Rent in this Neighborhood
There are currently 6 rentals with your search options within a 2 mile radius of the Downtown Neighborhood of Portland, OR.
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Downtown, Portland, OR Local Guide
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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 Modern Rich Apartments priced from $649. Morrison Park Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $800. Here are the most affordable Downtown apartments for rent in Portland, OR:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Modern Rich Apartments | 0BR/1.0BA | Studio,1BA | $649 |
| Morrison Park Apartments | Studio - 50% | Studio,1BA | $800 |
| Katherine Apartments | 0BR/1.0BA | Studio,1BA | $850 |
Best Value Apartments for Rent in Downtown, OR
As of May 11, 2025 the best value apartment in the Downtown area is the $1.80 price per square foot Two Bedroom Model at Marquam Heights in the in the Southwest Portland neighborhood starting from $2,530. The second greatest value Downtown 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 apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Marquam Heights | Two Bedroom | 2BR,2BA | $1.80 |
| Gallery Park Apartments | Two Bedroom | 2BR,2BA | $1.50 |
| Goose Hollow Plaza | Two Bedroom | 2BR,1BA | $1.66 |
| Downtown Living Starts At Lair Hill | 1x1 | 1BR,1BA | $1.82 |
| Portland Towers Apartments | 1 Bedroom - 1 Bath | 1BR,1BA | $1.80 |
| Uptown Apartments | One Bed | 1BR,1BA | $1.60 |
| Pine Cone Apartments | 1bed1bath | 1BR,1BA | $1.62 |
| Hidwell Apartments | 1BR/1.0BA | 1BR,1BA | $1.68 |
| Westfal Apartments | One Bedroom | 1BR,1BA | $1.83 |
| Brown Apartments | 0BR/1.0BA | Studio ,1BA | $1.79 |
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
What type of rentals are currently available in Downtown?
There are currently 510 Apartments for Rent in Downtown, OR with pricing that ranges from $649 to $26,948. There are also 27 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown ranging from $995 to $15,000.
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 $995 to $15,000 with an average monthly rent of $3,330.
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.
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.
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.
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.
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.