Cheap Homes for Rent in Portland, OR from $615 (150 Rentals)

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

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

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.

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property at 20 NW 16th Ave

$995 - $1,195

Studio Rentals

Available Now

20 NW 16th Ave

PortlandOR97209

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Portland’s Best Affordable Neighborhoods

Learn about Portland and the best places to live with original content written by our Portland, OR Local Expert Chad Deitchley

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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.

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Portland, OR Local Guide

Cheapest Neighborhoods for Apartments in Portland, OR

Pricing Updated: 09/01/2026

Current apartment rentals in the Portland, OR area range in price from $470 to $28,484 with an overall median price of $1,741. The three Portland neighborhoods with the lowest median rent pricing are North Tabor at $1,125, Rose City Park at $1,125, and Hazelwood-Mill Park at $1,150. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
North Tabor$1,125$1,05138
Rose City Park$1,125$90045
Hazelwood-Mill Park$1,150$799120
Roseway$1,150$619184
Kenton$1,185$95045
Center$1,199$90054
Gateway$1,200$799138
Maywood Park$1,226$619146
Argay$1,251$799148
Parkrose Heights$1,275$799180

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a Studio unit found at Wy'East Plaza in the East Portland neighborhood priced from $572. Modern Rich Apartments in the Downtown neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $649. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Wy'East PlazaStudioStudio,1BA$572
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Center Villageb2.12BR,1BA$650
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
Buri BuildingStudio SIMStudio,1BA$799
Margaret Carter PlazaStudio HUD UnitStudio,1BA$800
SM Multnomah Manor1X1- 50% HUD1BR,1BA$822
Hillside Manor1x11BR,1BA$835

Best Value Apartments for Rent in Portland, OR

As of September 01, 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 Three Bed Two Bath Model at Royal Greens Apartments starting at $2,200 with a $1.23 price per square foot in the Riverbend 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
Royal Greens ApartmentsThree Bed Two Bath3BR,2BA$1.23
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Foxstar Apartments2 Beds, 2 baths2BR,2BA$1.21
Los Jardines de la Paz3 Bedroom 1 Bath3BR,1BA$1.19
eastburn2BR/1.0BA2BR,1BA$1.22
Townhouse VillaTownhouse2BR,1BA$1.25
Rockwood Landing2X1- 40% LIHTC2BR,1BA$0.86
Midtown East0x1 100Studio ,1BA$1.23
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03

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!

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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.

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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

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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.

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

Explore Portland, OR Rentals by Map

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Frequently Asked Questions about Portland

What type of rentals are currently available in Portland?

There are currently 6583 Apartments for Rent in Portland, OR with pricing that ranges from $470 to $37,100. There are also 1107 Single Family Homes for rent, Condos, and Townhome rentals currently available in Portland ranging from $615 to $13,000.

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 $615 to $13,000 with an average monthly rent of $2,730.

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 $1,458 to $10,364, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,695 to $13,000. Four Bedroom Single-Family rentals are also available starting from $1,500 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 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.

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 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 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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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.