Cheap Homes for Rent in Portland, OR from $400 (162 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.

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.

Read Article
property at 1924 SE 139th Ave

$700

Total Monthly Price

Total Monthly Price

Base Rent
$700
Total Monthly Price
$700

1 Bedroom, 1.5 Bath Home for Rent

Available Now

1924 SE 139th Ave, Unit Room 3

1924 SE 139th Ave
PortlandOR97233
property at 9582 SW Jubilee Ct

$800

Total Monthly Price

Total Monthly Price

Base Rent
$800
Total Monthly Price
$800

1 Bedroom, 1.5 Bath Home for Rent

Available Now

9582 SW Jubilee Ct

TigardOR97224
property at 5631 NE Mason St

$870

Total Monthly Price

Total Monthly Price

Base Rent
$870
Total Monthly Price
$870

3 Bedroom, 1 Bath Home for Rent

Available Now

5631 NE Mason St, Unit Mason A

5631 NE Mason St
PortlandOR97218

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 20 NW 16th Ave

$995 - $1,050

Studio Rentals

Available Now

20 NW 16th Ave

PortlandOR97209

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

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

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

Read Article
Showing Results 1-50, Page 1 of 4

Portland, OR Local Guide

Cheapest Neighborhoods for Apartments in Portland, OR

Pricing Updated: 07/17/2026

Current apartment rentals in the Portland, OR area range in price from $320 to $18,248 with an overall median price of $3,911. The three Portland neighborhoods with the lowest median rent pricing are McLoughlin at $1,375, North Gresham at $1,250, and Glenfair at $995. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
McLoughlin$1,375$1,3753
North Gresham$1,395$1,2503
Glenfair$1,399$9954
North Tabor$1,475$82555
Rose City Park$1,475$82556
Central Park$1,515$1,2155
Piedmont$1,550$1,0003
Hillside$1,600$85011
Madison South$1,612$1,1999
Mount Scott$1,695$87511

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a Studio unit found at Waterleaf in the Southwest Portland neighborhood priced from $480. Helen Swindells Building in the Pearl District neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $500. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
WaterleafStudioStudio,1BA$480
Helen Swindells Building0x1Studio,1BA$500
Pine Point Apartments1x11BR,1BA$562
Center Villageb2.12BR,1BA$621
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Lewis and Clark Plaza1x11BR,1BA$654
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$729
Rockwood Landing2X1- 40% LIHTC2BR,1BA$785
Hamilton WestHamilton West: Your Urban Oasis in PortlandStudio,1BA$789
Society 62Private Room w/Bath1BR,1BA$795

Best Value Apartments for Rent in Portland, OR

As of July 17, 2026 the best value apartment in the Portland area is the $1.00 price per square foot 2169 NW Irving St Model at 2169 NW Irving St, Unit #10 in the in the Northwest Portland neighborhood starting from $2,500. The second greatest value Portland apartment is the 4 Bed 2 Bath PBV 60% MTSP Rent Limit Model at Clara Vista Townhomes starting at $1,696 with a $1.20 price per square foot in the Cully 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.
2169 NW Irving St, Unit #102169 NW Irving St2BR,1BA$1.00
Clara Vista Townhomes4 Bed 2 Bath PBV 60% MTSP Rent Limit4BR,2BA$1.20
Rock Creek RidgeC3BR,2BA$0.88
Villa de Clara Vista4 Bedroom 1 Bath PBV 50% AMI4BR,2BA$1.26
Firwood Station2 Bed 1 Bath2BR,1BA$1.21
Townhouse VillaTownhouse2BR,1BA$1.25
Rockwood Landing2X1- 40% LIHTC2BR,1BA$0.86
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
Pine Point Apartments1x11BR,1BA$0.81
Lewis and Clark Plaza1x11BR,1BA$1.17

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

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

Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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 6485 Apartments for Rent in Portland, OR with pricing that ranges from $320 to $12,668. There are also 925 Single Family Homes for rent, Condos, and Townhome rentals currently available in Portland ranging from $455 to $12,500.

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 $455 to $12,500 with an average monthly rent of $2,774.

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 $1,028 to $10,479, while Three Bedroom Homes, Condos, and Townhomes for rent range from $870 to $7,500. Four Bedroom Single-Family rentals are also available starting from $1,900 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 Insider's Guide to Living in Portland's Best Spots article

From Arts to Eats: A Local Insider's 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 Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.