Cheap Homes for Rent in Downtown Neighborhood of Portland, OR from $600 (13 Rentals)

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Search the lowest-cost Homes available for rent right now in the Downtown area of Portland.

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Downtown, Portland, OR Local Guide

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. Gretchen Kafoury Commons has the second lowest priced unit, which is a Studio apartment currently listed from $702. Here are the most affordable Downtown apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Gretchen Kafoury CommonsStudio PBV 60%Studio,1BA$702
Fountain Place ApartmentsStudio - 60%Studio,1BA$737
Hamilton WestHamilton West: Your Urban Oasis in PortlandStudio,1BA$757
Emmons PlaceSTUDIOSStudio,1BA$799

Best Value Apartments for Rent in Downtown, OR

As of August 20, 2025 the best value apartment in the Downtown area is the $1.78 price per square foot 2 Bed 2.5 Bath Model at 1607 Apartments in the in the Northwest Portland neighborhood starting from $2,200. The second greatest value Downtown apartment is the B5 A Model at Collins Circle starting at $1,493 with a $1.56 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 ListingModel NameBed/BathPrice Per Sq.Ft.
1607 Apartments2 Bed 2.5 Bath2BR,2.5BA$1.78
Collins CircleB5 A2BR,2BA$1.56
Goose Hollow PlazaTwo Bedroom2BR,1BA$1.66
Park Avenue Gardens1 Bed 1 Bath1BR,1BA$1.64
Pine Cone Apartments1bed1bath1BR,1BA$1.62
Hidwell Apartments1BR/1.0BA1BR,1BA$1.68
Westfal ApartmentsOne Bedroom1BR,1BA$1.83
5th Avenue Place ApartmentsStudio, 1 bathStudio ,1BA$1.78
Fountain Place ApartmentsStudio - 60%Studio ,1BA$1.69
Emmons PlaceSTUDIOSStudio ,1BA$1.90

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downtown, Portland, OR

Ranked #12

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

What type of rentals are currently available in Downtown?

There are currently 516 Apartments for Rent in Downtown, OR with pricing that ranges from $649 to $24,496. There are also 53 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown ranging from $615 to $6,550.

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 $615 to $6,550 with an average monthly rent of $3,395.

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.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.