
Cheap Apartments for Rent in the Madison South Neighborhood of Portland, OR from $900 (21 Rentals)
Search the lowest-cost Apartments available for rent right now in the Madison South area of Portland.


Beverly Grove Apartments

Hillside Terrace Condominiums

Grotto Apartments

3241-3305 NE 70th Ave

10331-10341 NE Fargo St

4320-4328 NE Maywood Pl
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.

7408 NE Broadway St

The Par Villa

JOHN JAMES

Terrace At Columbia Knoll Apartments

Fairmont Villa Apartments

Sierra Terrace Apartments

The Astoria
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.

The Binford

FirCrest Manor Apartments

The Clairmont Apartments

Hancock East

Montavilla 5-Plex

Broadway Vantage Apartments

Marin Terrace Apartments
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.
Madison South, Portland, OR Local Guide

How much does it cost to rent an apartment in Madison South?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Madison South 1 Bedroom Apartments | $1,260 | $1,099 | $1,445 |
| Madison South 2 Bedroom Apartments | $1,536 | $1,199 | $1,750 |
| Madison South 3 Bedroom Apartments | $1,839 | $1,732 | $1,995 |
Browse Apartments in this Neighborhood
There are currently 21 rentals with your search options within a 2 mile radius of the Madison South Neighborhood of Portland, OR.
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Madison South, Portland, OR Local Guide
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Cheapest Available Madison South Apartments for Rent
 The cheapest available apartment rental in the Madison South area of Portland, OR is a 1 Bed unit found at The Ellington Apartments priced from $1,099. Heights at Columbia Knoll Senior Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,170. Here are the most affordable Madison South apartments for rent in Portland, OR:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Ellington Apartments | 1x1 U | 1BR,1BA | $1,099 |
| Heights at Columbia Knoll Senior Apartments | 1-Bedroom | 1BR,1BA | $1,170 |
| Rose City Center Apartments - 55 and Over | #203 | 1BR,1BA | $1,445 |
| Beverly Grove Apartments | 2 BEDROOM 1 BATH | 2BR,1BA | $1,495 |
| Terrace At Columbia Knoll Apartments | 2 Bedroom, 1.5 Bath | 2BR,1BA | $1,500 |
Best Value Apartments for Rent in Madison South, OR
As of March 06, 2026 the best value apartment in the Madison South area is the $1.86 price per square foot 3 BEDROOM 1 BATH Model at Beverly Grove Apartments in the in the East Portland neighborhood starting from $1,995. The second greatest value Madison South apartment is the 2 Bedroom, 1.5 Bath Model at Terrace At Columbia Knoll Apartments starting at $1,500 with a $1.71 price per square foot in the Cully neighborhood. Here is today’s list of the best values for Madison South apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Beverly Grove Apartments | 3 BEDROOM 1 BATH | 3BR,1BA | $1.86 |
| Terrace At Columbia Knoll Apartments | 2 Bedroom, 1.5 Bath | 2BR,1.5BA | $1.71 |
| Hancock East | 2BR/2.0BA | 2BR,2BA | $1.77 |
| The Binford | 1x1 | 1BR,1BA | $1.99 |
| 1409 NE 71st Ave, Unit A | 1409 NE 71st Ave | 2BR,1BA | $2.41 |
| Heights at Columbia Knoll Senior Apartments | 1-Bedroom | 1BR,1BA | $1.74 |
| The Ellington Apartments | 1x1 D | 1BR,1BA | $2.19 |
| Rose City Center Apartments - 55 and Over | #203 | 1BR,1BA | $2.51 |
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 ArticleDon'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 ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
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Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
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Read ArticleA 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 ArticleQuick 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.
Best Local Schools in Madison South, Portland, OR
Leodis V. McDaniel High School
School data provided by Great Schools
Frequently Asked Questions about Cheap Madison South Apartments
What is the price of a cheap apartment in Madison South?
The cheapest apartment in Madison South is The Ellington Apartments which is listed at $1,099, while the average apartment in Madison South costs $1,816.
What types of apartments are the cheapest in Madison South?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 8 regular apartments in Madison South that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Madison South?
Cheap apartments in Madison South have an average cost of $727 which is $1,089 cheaper than the average rent for all rentals in Madison South.
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

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.

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.

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.

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

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.

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.

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.

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.