Cheap Homes for Rent in Portland, OR from $500 (255 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article
property at 6906 N Vancouver Ave

$800

Total Monthly Price

Total Monthly Price

Base Rent
$800
Total Monthly Price
$800

1 Bedroom, 1 Bath Home for Rent

Available Now

6906 N Vancouver Ave

PortlandOR97217
property at 12370 SW 121st Ave

$800 - $950

Total Monthly Price

Total Monthly Price

Base Rent
$800 - $950
Total Monthly Price
$800 - $950

1 Bedroom, 1 Bath Home for Rent

Available Now

12370 SW 121st Ave

TigardOR97223
property at 9582 SW Jubilee Ct

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

1 Bedroom, 1.5 Bath Home for Rent

Available Now

9582 SW Jubilee Ct

TigardOR97224

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Read Article
property at 1134 SW Jefferson St

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100

Studio, 1 Bath Condo for Rent

Available Now

1134 SW Jefferson St, Unit 206

1134 SW Jefferson St
PortlandOR97201

From Arts to Eats: A Local Insider's Guide to Living in Portland's Best Spots

Discover the true heart of Portland, Oregon, with this local expert's guide. Explore the city's unique history, from the coin toss that named it to its "Keep Portland Weird" culture, and get an insider look at its most notable neighborhoods and internationally recognized food scene.

Read Article

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Read Article

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.

Read Article
Showing Results 1-50, Page 1 of 6

Portland, OR Local Guide

Cheapest Neighborhoods for Apartments in Portland, OR

Pricing Updated: 02/28/2026

Current apartment rentals in the Portland, OR area range in price from $500 to $17,793 with an overall median price of $3,691. The three Portland neighborhoods with the lowest median rent pricing are Mill Park at $1,100, Glenfair at $1,045, and South Tabor at $1,225. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Mill Park$1,350$1,1004
Glenfair$1,397$1,0458
South Tabor$1,412$1,2252
Parkrose$1,460$95024
Piedmont$1,495$1,4951
North Gresham$1,575$1,0994
Central Park$1,599$1,2499
Hazelwood-Mill Park$1,602$79978
Gateway$1,604$79984
Area 10$1,614$1,21339

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a Studio unit found at Helen Swindells Apartments in the Pearl District neighborhood priced from $500. 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
Helen Swindells Apartments0x1Studio,1BA$500
Las AdelitasStudio - 30% AMI PSHStudio,1BA$619
MILEPOST 5Studio Just SinkStudio,$630
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Fountain Place ApartmentsMicro StudioStudio,1BA$680
Gretchen Kafoury CommonsStudio 40%Studio,1BA$702
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$729
Hamilton WestEff StudioStudio,1BA$757
Pearl CourtStudio - BStudio,1BA$789
Zeal LoftsStudio 2Studio,1BA$795

Best Value Apartments for Rent in Portland, OR

As of February 28, 2026 the best value apartment in the Portland area is the $1.11 price per square foot 3x2.5 Model at The Willows in the in the East Portland neighborhood starting from $2,395. The second greatest value Portland apartment is the 3BD/2.5BTH Model at Cedar Tree starting at $1,999 with a $1.02 price per square foot in the East 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.
The Willows3x2.53BR,2.5BA$1.11
Cedar Tree3BD/2.5BTH3BR,2.5BA$1.02
11380 Greenburg Apartments2BR/1.0BA2BR,1BA$1.08
Plaza de Cedro3 bedroom3BR,2BA$1.10
Melrose Court ApartmentsTwo Bedroom2BR,1BA$1.18
Country Oaks2 BEDROOM2BR,1BA$1.32
Villa de Clara Vista3 Bedroom 1 Bath PBV 50% AMI3BR,1BA$1.28
seaside011BR/1.0BA1BR,1BA$1.15
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
Crofton Apartments2BD/1BTH2BR,1BA$1.29

The Portland Power Commute: Top Neighborhoods for Renters Near the City’s Major Job Hubs

Balance work and life in Portland. Explore the neighborhoods for renting that offer great amenities and quick commutes to the city's top major employers. Find your Portland apartment today!

Read Article
Decorative image

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

Read Article
Decorative image

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

Read Article
Decorative image

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

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

Read Article
Decorative image

A Local Experts Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Portland

A Local Experts guide to the Best Student Friendly Neighborhoods Near Colleges in the Portland area. Find your perfect Student apartment, condo, or rental home today

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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

Explore Portland, OR Rentals by Map

Decorative image of map

See the most popular apartments and homes in Portland, OR

View Map
Portland, OR Apartments Map
View Map
Portland, OR Rental Homes Map

Frequently Asked Questions about Portland

What type of rentals are currently available in Portland?

There are currently 6431 Apartments for Rent in Portland, OR with pricing that ranges from $500 to $17,757. There are also 1048 Single Family Homes for rent, Condos, and Townhome rentals currently available in Portland ranging from $545 to $10,500.

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 $10,500 with an average monthly rent of $2,845.

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 $842 to $12,269, while Three Bedroom Homes, Condos, and Townhomes for rent range from $750 to $10,500. Four Bedroom Single-Family rentals are also available starting from $2,000 and Four Bedroom Apartments start at $1,902.

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

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.

decorative image for Local Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Portland article

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.

decorative image for The Portland Power Commute: Top Neighborhoods for Renters Near the City’s Major Job Hubs article

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.

decorative image for From Arts to Eats: A Local Insiders Guide to Living in Portland's Best Spots article

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

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

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.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.