Cheap Apartments for Rent in the Parkrose Heights Neighborhood of Portland, OR from $500 (84 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Parkrose Heights area of 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.

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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.

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Greenview Terrace
1 to 2 Bedroom Apartments

Greenview Terrace

620 SE 148th AvePortland, OR 97233
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SM Multnomah Manor
1 to 3 Bedroom Apartments

SM Multnomah Manor

9110 NE Hassalo StPortland, OR 97220
  • Utilities Included

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.

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Pine Point Apartments
Studio to 2 Bedroom Apartments

Pine Point Apartments

12025 SE Pine StPortland, OR 97216
Senior Living
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The Alicia Apartments
Studio to 2 Bedroom Apartments

The Alicia Apartments

10304-10308 NE Wygant StPortland, OR 97220
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The Alexis Apartments
Studio to 3 Bedroom Apartments

The Alexis Apartments

15075 SE Stark StPortland, OR 97233
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Eastgate Station
1 to 4 Bedroom Apartments

Eastgate Station

100 NE 120th AvePortland, OR 97220
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Hazel Heights
1 to 2 Bedroom Apartments

Hazel Heights

12621 SE Stark StPortland, OR 97233
  • Utilities Included
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Parkrose Terrace
Studio to 1 Bedroom Apartments

Parkrose Terrace

10235 NE Prescott StPortland, OR 97220
  • Utilities Included

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.

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Parkway Garden Apartments
Studio to 3 Bedroom Apartments

Parkway Garden Apartments

14024-14124 NE Sandy BlvdPortland, OR 97230
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The Bria Apartments
1 to 2 Bedroom Apartments

The Bria Apartments

30 NE 146th AvePortland, OR 97230
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Melissa Anne
1 to 2 Bedroom Apartments

Melissa Anne

7606-7720 E Burnside StPortland, OR 97215
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The Squire
1 to 2 Bedroom Apartments

The Squire

10315-10339 NE Fremont StPortland, OR 97220
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335 SE 80th Ave
Studio Apartments

335 SE 80th Ave

335 SE 80th AvePortland, OR 97215
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The Nick Fish
Studio to 2 Bedroom Apartments

The Nick Fish

10550 NE Halsey StPortland, OR 97220

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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Parkrose Heights, Portland, OR Local Guide

Cheapest Available Parkrose Heights Apartments for Rent

 

The cheapest available apartment rental in the Parkrose Heights area of Portland, OR is a 1 Bed unit found at Pine Point Apartments priced from $562. MILEPOST 5 has the second lowest priced unit, which is a Studio apartment currently listed from $630. Here are the most affordable Parkrose Heights apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Pine Point Apartments1x11BR,1BA$562
MILEPOST 5Studio Just SinkStudio,$630
Buri BuildingStudio SIMStudio,1BA$799
SM Multnomah Manor1X1- 50% HUD1BR,1BA$822
Eastgate Station1x11BR,1BA$905
Madison at Parkrose108th - The MadisonStudio,1BA$950
Wy'East PlazastudioStudio,1BA$1,001
Melissa Anne1x11BR,1BA$1,025
Huckleberry ApartmentsStudioStudio,1BA$1,050
Glendoveer Woods ApartmentsSpacious Studio NO Washer & DryerStudio,1BA$1,088

Best Value Apartments for Rent in Parkrose Heights, OR

As of May 19, 2026 the best value apartment in the Parkrose Heights area is the $1.51 price per square foot 3BR/2.0BA Model at Stunning 3-bed/2-bath apartments, close to public transit in the in the East Portland neighborhood starting from $1,815. The second greatest value Parkrose Heights apartment is the 3BR/1.5BA Model at Cape Manor starting at $1,750 with a $1.62 price per square foot in the East Portland neighborhood. Here is today’s list of the best values for Parkrose Heights apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Stunning 3-bed/2-bath apartments, close to public transit3BR/2.0BA3BR,2BA$1.51
Cape Manor3BR/1.5BA3BR,1.5BA$1.62
143rd Apartments2 Bedroom 1 Bath - 503912BR,1BA$1.62
Rochelle Apartments2 Bedroom, 1 Bath2BR,1BA$1.51
Michael Manor Apartments2 Bedroom 1.5 Bath2BR,1.5BA$1.64
Greenview Village2BR/1.0BA2BR,1BA$1.48
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
Vine Maple1BR 1Bath1BR,1BA$1.60
Pine Point Apartments1x11BR,1BA$0.81
Eastgate Station1x11BR,1BA$1.39

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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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.

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Pet Friendly Lifestyle
Parkrose Heights, Portland, OR

Ranked #54

Among cities in Oregon for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Parkrose Heights, Portland, OR

School data provided by Great Schools

Frequently Asked Questions about Cheap Parkrose Heights Apartments

What is a cheap apartment in Parkrose Heights?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Parkrose Heights is under $1,088.

What is the price of a cheap apartment in Parkrose Heights?

The cheapest apartment in Parkrose Heights is Pine Point Apartments which is listed at $562, while the average apartment in Parkrose Heights costs $2,200.

What types of apartments are the cheapest in Parkrose Heights?

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 114 regular apartments in Parkrose Heights 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 Parkrose Heights?

Cheap apartments in Parkrose Heights have an average cost of $451 which is $1,749 cheaper than the average rent for all rentals in Parkrose Heights.

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

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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.

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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.

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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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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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.