Cheap Apartments for Rent in the Reed Neighborhood of Portland, OR from $300 (176 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Reed 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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Goat Blocks
Rent Specials
$1,275 - $2,687
Total Monthly Price

Total Monthly Price

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$1,275 - $2,687
Total Monthly Price
$1,275 - $2,687
Studio to 3 Bedroom Apartments Available Now

Goat Blocks

975 SE 11th AvePortland, OR 97214
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The Dylan
Rent Specials
$1,295 - $3,653
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$1,295 - $3,653
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Studio to 2 Bedroom Apartments Available Now

The Dylan

3883 S Moody AvePortland, OR 97239
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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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Ella
Rent Specials
$1,299 - $10,000
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$1,299 - $10,000
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Studio to 2 Bedroom Apartments Available Now

Ella

3833 SW Bond AvePortland, OR 97239
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Sanctuary
Rent Specials
$1,345 - $2,772
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$1,345 - $2,772
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Studio to 2 Bedroom Apartments Available Now

Sanctuary

4940 S Landing DrPortland, OR 97239
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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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The Frankie
Rent Specials
$1,350 - $4,035
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$1,350 - $4,035
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Studio to 3 Bedroom Apartments Available Now

The Frankie

3260 SE Milwaukie AvePortland, OR 97202
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Novus
Rent Specials
$1,425 - $1,699
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$1,425 - $1,699
Total Monthly Price
$1,425 - $1,699
Studio to 1 Bedroom Apartments Available Jun 4

Novus

4981 SE Woodstock BlvdPortland, OR 97206
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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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The Enclave
$1,450 - $2,000
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Total Monthly Price

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$1,450 - $2,000
Total Monthly Price
$1,450 - $2,000
1 to 3 Bedroom Apartments Contact Us For Availability

The Enclave

3636 SE Mall StPortland, OR 97202
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property at 1605 SE Yukon St

$1,495

Total Monthly Price

Total Monthly Price

Base Rent
$1,495
Total Monthly Price
$1,495

1 Bedroom, 1 Bath Home for Rent

Available Now

1605 SE Yukon St, Unit B

1605 SE Yukon St
PortlandOR97202

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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Reed, Portland, OR Local Guide

Cheapest Available Reed Apartments for Rent

 

The cheapest available apartment rental in the Reed area of Portland, OR is a Studio unit found at Studio Pointe Apartments priced from $995. Tabor Commons has the second lowest priced unit, which is a Studio apartment currently listed from $995. Here are the most affordable Reed apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Studio Pointe ApartmentsStudio 2Studio,1BA$995
Tabor CommonsMicro Studio-AStudio,1BA$995
Wimbledon Square And GardensSpaldingStudio,1BA$1,014
Brooklyn Flats0 Bedroom 1 Bath - 50384Studio,1BA$1,015
Gray's LandingstudioStudio,1BA$1,018
Hunter's Ridge Apartments2 Beds, 1 bath2BR,1BA$1,245
Division Street LoftsBurnsideStudio,1BA$1,265
Goat Blocks888: Studio BStudio,1BA$1,275
Moreland CrossingStudio AStudio,1BA$1,295
Tristin Square Apartments1 Bedroom, 1 Bath lg1BR,1BA$1,295

Best Value Apartments for Rent in Reed, OR

As of June 03, 2026 the best value apartment in the Reed area is the $1.47 price per square foot 5625 SE Powell Blvd Model at 5625 SE Powell Blvd, Unit 5625 in the in the Southeast Portland neighborhood starting from $2,500. The second greatest value Reed apartment is the Studio Model at Z_Caritas Sacred Heart Villa starting at $1,438 with a $0.96 price per square foot in the Southeast Portland neighborhood. Here is today’s list of the best values for Reed apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
5625 SE Powell Blvd, Unit 56255625 SE Powell Blvd2BR,2BA$1.47
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Crown Point Apartments2 Beds, 1 Baths2BR,1BA$1.27
Ravenbourne Apartments2x12BR,1BA$1.59
Ashley Court Apartments2 Bedroom / 1.0 Bath2BR,1BA$1.73
Shady Glen ApartmentsTwo Bedroom 1 Bath2BR,1BA$1.70
Hunter's Ridge Apartments2 Beds, 1 bath2BR,1BA$1.61
5902-5920 SE Milwaukie Ave1 Bed 1 Bath1BR,1BA$1.73
Shade Tree Apartments1 Beds, 1 Baths1BR,1BA$1.98
Gray's LandingstudioStudio ,1BA$1.70

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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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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Best Local Schools in
Reed, Portland, OR

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Lifestyle Ratings

ApartmentHomeLiving.com is proud to bring you Lifestyle Ratings of rentals in areas across the United States, including Portland. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and outdoor amenities like tennis courts, family-friendly amenities, raising pets, transit options, and other valuable search options. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Reed Apartments

What is a cheap apartment in Reed?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Reed is under $1,295.

What is the price of a cheap apartment in Reed?

The cheapest apartment in Reed is Gray's Landing which is listed at $1,102, while the average apartment in Reed costs $7,059.

What types of apartments are the cheapest in Reed?

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 32 regular apartments in Reed 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 Reed?

Cheap apartments in Reed have an average cost of $385 which is $6,674 cheaper than the average rent for all rentals in Reed.

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

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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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.