
Cheap Homes for Rent in Portland, OR from $500 (204 Rentals)
Search the lowest-cost Homes available for rent right now in Portland.


4713 N Willamette Blvd

4803 NE Cleveland Ave

2043 NW Johnson St

7325 NE Mallory Ave

5103 NE 7th Ave

4320 SE Holgate Blvd
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.

4811 SE Haig St

6914 NE Grand Ave

3535 N Borthwick Ave

Room in 5 Bedroom Home at 13665 Sw Parkway

5218 N Harvard St

5204 N Harvard St

7703 N Hereford Ave

2415 NE 15th Ave

6906 N Vancouver Ave

19195 SE Yamhill St

5123 SE Hawthorne Blvd

13265 SW Barlow Rd
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.

5719 N Yale St

5719 N Yale St

5719 N Yale St

5719 N Yale St

4833 NE 11th Ave

131-149 SE 151st Avenue

131-149 SE 151st Avenue
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.

1416 SE Duke St

6923-6923 NE Prescott St

1516 SE Martins St

3218 SE 122nd Ave

18411 E Burnside St

1311 SE 130th Ave
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

8780 SE Flavel St

00000 Bristol

6940 SE Long St

7246 SW Garden Home Rd

4406A SE 36th Pl

5515 N Syracuse St
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

655 NE 4th St

6541 SE 89th Ave
Portland, OR Local Guide

How much does it cost to rent a home in Portland?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Portland 2 Bedroom Homes for Rent | $2,264 | $1,295 | $7,850 |
Portland 3 Bedroom Homes for Rent | $2,954 | $1,475 | $8,750 |
Portland 4 Bedroom Homes for Rent | $3,746 | $1,850 | $7,989 |
Portland 5 Bedroom Homes for Rent | $4,266 | $745 | $7,200 |
Portland 6 Bedroom Homes for Rent | $3,824 | $3,500 | $4,500 |
Browse Top Homes for Rent in Portland
Explore Portland
Portland, OR Local Guide
- Portland Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Portland, OR
Pricing Updated: 07/29/2025Current apartment rentals in the Portland, OR area range in price from $506 to $14,192 with an overall median price of $3,019. The three Portland neighborhoods with the lowest median rent pricing are Montavilla at $700, North Gresham at $1,350, and Sunnyside at $1,258. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:
Neighborhood | Median Price | Min Price | Available Units |
---|---|---|---|
Montavilla | $1,372 | $700 | 46 |
North Gresham | $1,495 | $1,350 | 2 |
Sunnyside | $1,625 | $1,258 | 3 |
Gateway | $1,649 | $799 | 124 |
Parkrose | $1,649 | $1,195 | 9 |
Linnton | $1,665 | $1,100 | 42 |
St. Johns | $1,665 | $1,100 | 47 |
Mt. Tabor | $1,695 | $1,225 | 9 |
Hawthorne | $1,712 | $1,000 | 27 |
Glenfair | $1,724 | $995 | 10 |
Cheapest Available Portland Apartments for Rent
 The cheapest available apartment rental in Portland, OR is a 1 Bed unit found at Dekum Court in the Northeast Portland neighborhood priced from $506. St. Francis Park in the Southeast Portland neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $536. Here is today’s list of the most affordable Portland apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Dekum Court | Studio NON-SUBSIDIZED | 1BR,1BA | $506 |
St. Francis Park | Studio | Studio,1BA | $536 |
Las Adelitas | Studio - 30% AMI | Studio,1BA | $619 |
MILEPOST 5 | SRO | Studio, | $620 |
Alder 9 | Studio 30% | Studio,1BA | $626 |
Modern Rich Apartments | 0BR/1.0BA | Studio,1BA | $649 |
Park Terrace | One Bedroom One Bathroom Unit Income and rent r... | 1BR,1BA | $729 |
Fountain Place Apartments | Studio - 60% | Studio,1BA | $737 |
Society 62 | Private Room | 1BR, | $750 |
Hamilton West | Hamilton West: Your Urban Oasis in Portland | Studio,1BA | $757 |
Best Value Apartments for Rent in Portland, OR
As of July 29, 2025 the best value apartment in the Portland area is the $0.96 price per square foot Studio Model at Z_Caritas Sacred Heart Villa in the in the Southeast Portland neighborhood starting from $1,438. The second greatest value Portland apartment is the 4 Bedroom 2 Baths PBV unit at 30% AMI Model at Villa de Suenos starting at $848 with a $0.65 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Z_Caritas Sacred Heart Villa | Studio | Studio ,1BA | $0.96 |
Villa de Suenos | 4 Bedroom 2 Baths PBV unit at 30% AMI | 4BR,2BA | $0.65 |
Lincoln Townhomes | 2 Bedroom 1.5 Bath sm | 2BR,1.5BA | $1.30 |
Plaza de Cedro | 3 bedroom | 3BR,2BA | $1.10 |
Los Jardines de la Paz | 3 Bedroom 1 Bath | 3BR,1BA | $1.19 |
East Park Place Apartments | 2 Bedroom, 2 Bath | 2BR,2BA | $1.38 |
Meadow Ridge Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.31 |
Evergreen Apartments | 2x1 | 2BR,1BA | $1.35 |
SM Multnomah Manor | 1X1- 50% HUD | 1BR,1BA | $1.03 |
St. Francis Park | Studio | Studio ,1BA | $1.34 |
Quick Rent Budget Calculator
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Frequently Asked Questions about Portland
What type of rentals are currently available in Portland?
There are currently 6355 Apartments for Rent in Portland, OR with pricing that ranges from $506 to $14,192. There are also 856 Single Family Homes for rent, Condos, and Townhome rentals currently available in Portland ranging from $570 to $8,750.
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 $570 to $8,750 with an average monthly rent of $2,898.
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 $11,587, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,475 to $8,750. Four Bedroom Single-Family rentals are also available starting from $1,850 and Four Bedroom Apartments start at $1,810.
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.

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.

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.

The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.