Cheap Homes for Rent in Portland, OR from $500 (192 Rentals)

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property at 1811 NW Couch St

1811 NW Couch St

PortlandOR97209
Showing Results 1-50, Page 1 of 4

Portland, OR Local Guide

Cheapest Neighborhoods for Apartments in Portland, OR

Pricing Updated: 09/14/2025

Current apartment rentals in the Portland, OR area range in price from $545 to $11,500 with an overall median price of $3,679. The three Portland neighborhoods with the lowest median rent pricing are Mt Hood at $1,295, ASERT at $1,295, and North Gresham at $1,345. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Mt Hood$1,322$1,2952
ASERT$1,595$1,2954
North Gresham$1,595$1,3452
Powell Valley$1,625$1,5952
Esther Short$1,650$1,6501
Downtown Gresham$1,770$1,2953
Harney Heights$1,995$1,3952
Outlying Multnomah$2,047$1,7951
Meadow Homes$2,050$1,7504
Bagley Downs$2,098$1,9954

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a 2 Beds unit found at The York in the Far Southwest Portland neighborhood priced from $195. Las Adelitas in the Cully neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $619. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The York2x1L2BR,1BA$195
Las AdelitasStudio - 30% AMIStudio,1BA$619
MILEPOST 5SROStudio,$620
Alder 9Studio 30%Studio,1BA$626
Society 62Private Room w/Bath1BR,1BA$700
Gretchen Kafoury CommonsStudio PBV 60%Studio,1BA$702
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$729
Hamilton WestHamilton West: Your Urban Oasis in PortlandStudio,1BA$757
5th Avenue Place ApartmentsStudioStudio,1BA$795
Buri BuildingStudio SIMStudio,1BA$799

Best Value Apartments for Rent in Portland, OR

As of September 15, 2025 the best value apartment in the Portland area is the $1.31 price per square foot 5324 SE Flavel St Model at 5324 SE Flavel St, Unit 5324 in the in the Southeast Portland neighborhood starting from $2,450. The second greatest value Portland apartment is the Studio Model at Z_Caritas Sacred Heart Villa starting at $1,438 with a $0.96 price per square foot in the Southeast Portland neighborhood. Here is today’s list of the best values for Portland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
5324 SE Flavel St, Unit 53245324 SE Flavel St3BR,1BA$1.31
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Los Jardines de la Paz4 Bedroom 2 Baths4BR,2BA$1.04
Clara Vista Townhomes3 Bed 1.5 Bath 50% MTSP Rent Limit3BR,1.5BA$1.00
Lincoln Townhomes2 Bedroom 1.5 Bath sm2BR,1.5BA$1.30
Villas de Mariposas3 Bedroom 1 Bath3BR,1.5BA$1.10
Plaza de Cedro3 bedroom3BR,2BA$1.10
Melrose Court ApartmentsTownhome2BR,1.5BA$1.29
The York2x1L2BR,1BA$0.22
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03

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Pet Friendly Lifestyle
Portland, OR

Ranked #1

Among cities in Oregon for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Portland

What type of rentals are currently available in Portland?

There are currently 6419 Apartments for Rent in Portland, OR with pricing that ranges from $195 to $20,000. There are also 982 Single Family Homes for rent, Condos, and Townhome rentals currently available in Portland ranging from $545 to $11,500.

What is the current price range for Rental Homes in Portland?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Portland ranges from $545 to $11,500 with an average monthly rent of $2,804.

How much are larger Three and Four Bedroom Rentals in Portland?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Portland range from $507 to $20,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,895 to $11,500. Four Bedroom Single-Family rentals are also available starting from $900 and Four Bedroom Apartments start at $1,937.

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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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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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.