2043 NW Johnson St
PortlandOR97209
Cheap Homes for Rent in Downtown Neighborhood of Portland, OR from $500 (14 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown area of Portland.
1811 NW Couch St
PortlandOR97209
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$1,175Studio Apartments Available Now
1943 NW Irving St, Unit 305
1943 NW Irving StPortland, OR 97209
1631 NW Everett St
PortlandOR97209
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$1,2001 Bedroom Apartments Available Now
2234-2238 SW Vista Ave, Unit 2
2234-2238-2238 SW Vista AvePortland, OR 97201
20 NW 16th Ave
PortlandOR97209
2154 NW Everett St
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.
1005 SW Park Ave, Unit #204, Unit #204
1005 SW Park Ave
PortlandOR97205
2333 SW 6th Ave
PortlandOR97201
327 NW Park Ave
PortlandOR97209
1926 W Burnside St
PortlandOR97209
2020 SW Main St
PortlandOR97205
3030 SW 4th Ave
PortlandOR97201
2109 NW Irving St
PortlandOR97210
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.
Showing Results 1-14, Page 1 of 1
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 | $2,939 | $1,595 | $5,900 |
| Downtown 3 Bedroom Homes for Rent | $4,096 | $2,995 | $5,800 |
| Downtown 4 Bedroom Homes for Rent | $3,995 | $3,995 | $3,995 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 14 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 |
| Gretchen Kafoury Commons | Second Month FREE — Studio Available Now! | Studio,1BA | $702 |
| Hamilton West | Eff Studio | Studio,1BA | $789 |
Best Value Apartments for Rent in Downtown, OR
As of April 16, 2026 the best value apartment in the Downtown area is the $1.46 price per square foot Two Bedroom Model at Gallery Park Apartments in the in the Northwest Portland neighborhood starting from $1,750. The second greatest value Downtown apartment is the 2BR/2.0BA Model at Goose Hollow Townhomes starting at $1,750 with a $1.81 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. |
|---|---|---|---|
| Gallery Park Apartments | Two Bedroom | 2BR,2BA | $1.46 |
| Goose Hollow Townhomes | 2BR/2.0BA | 2BR,2BA | $1.81 |
| Lair Hill | 1x1 | 1BR,1BA | $1.82 |
| Victorian Apartments | 2BR/1.0BA | 2BR,1BA | $1.78 |
| Portland Terrace | 1 bedroom 1 bath | 1BR,1BA | $1.89 |
| Waterleaf | 1 Bedroom 1 Bath | 1BR,1BA | $1.64 |
| Westfal Apartments | One Bedroom | 1BR,1BA | $1.71 |
| Allendale Apartments | 1BR/1.0BA | 1BR,1BA | $1.99 |
| Rena Villa | 1x1 | 1BR,1BA | $1.97 |
| Brown Apartments | 0BR/1.0BA | Studio ,1BA | $1.99 |
Frequently Asked Questions about Downtown
What type of rentals are currently available in Downtown?
There are currently 516 Apartments for Rent in Downtown, OR with pricing that ranges from $470 to $13,986. There are also 50 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown ranging from $550 to $5,900.
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 $550 to $5,900 with an average monthly rent of $2,852.
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 $9,152, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,995 to $5,800. 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
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.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
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.