
Cheap Apartments for Rent in the Reed Neighborhood of Portland, OR from $500 (112 Rentals)
Search the lowest-cost Apartments available for rent right now in the Reed area of Portland.


Hazel Ying Lee Apartments

MF 11 - Cedarhurst Village Apartments

Studio Pointe Apartments

Brooklyn Flats
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 Morgan

Brookland Apartments

Division Terrace

Kern Lofts

1313 SE Spokane St

Division Street Lofts

Wimbledon Square And Gardens

Britney Forest Apartments

The Margot

1475 SE 15th Ave

1317 SE Lambert St

The Marilyn
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.

The Dylan

Highland Terrace Apartments

54 Woodstock , Studios & One Bedrooms

Goat Blocks

Sunshine Portland

Tabor View Lofts

Sanctuary Apartments

4232-4232 SE Cesar Estrada Chavez Blvd
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.

2910 SE Gladstone St, Unit 2

Modera Woodstock

Powell Gardens Apartments

Moreland Place Apartments

3625 SE Taylor St

4202-4224-4224 SE 58th 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.

Clinton Court

Rothko

Novus

4232-4232 SE Cesar Estrada Chavez Blvd

Meetinghouse

Holm at Sellwood

The Frankie

The Enclave

Milwaukie Avenue Apartments

Urban Living, Elevated Comfort

Ella
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

The Hawthorne
Reed, Portland, OR Local Guide

How much does it cost to rent an apartment in Reed?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Reed Studio Apartments | $1,463 | $945 | $6,895 |
Reed 1 Bedroom Apartments | $1,983 | $1,218 | $7,566 |
Reed 2 Bedroom Apartments | $2,993 | $1,450 | $10,000+ |
Reed 3 Bedroom Apartments | $3,378 | $1,950 | $7,270 |
Browse Apartments in this Neighborhood
There are currently 112 rentals with your search options within a 2 mile radius of the Reed Neighborhood of Portland, OR.
See all Apartments in PortlandExplore Portland
Reed, Portland, OR Local Guide
- Nearby Portland neighborhoods
- Nearby Cities
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Cheapest Available Reed Apartments for Rent
 The cheapest available apartment rental in the Reed area of Portland, OR is a Studio unit found at Hazel Ying Lee Apartments priced from $950. Studio Pointe Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,015. Here are the most affordable Reed apartments for rent in Portland, OR:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Hazel Ying Lee Apartments | Studio | Studio,1BA | $950 |
Studio Pointe Apartments | Studio 1 | Studio,1BA | $1,015 |
Enclave 54 | Studio 2 | Studio,1BA | $1,129 |
Brookland Apartments | Studio, 1 Bathroom | Studio,1BA | $1,149 |
East 12 Lofts | Fremont | Studio,1BA | $1,195 |
Dean River | Studio | Studio,1BA | $1,199 |
Division Terrace | 0BR/1.0BA | Studio,1BA | $1,199 |
The Fifty at Division | St. Johns | Studio,1BA | $1,225 |
Wimbledon Square And Gardens | Spalding | Studio,1BA | $1,244 |
The Margot | 2919 SE Division Street - 402 | Studio,1BA | $1,250 |
Best Value Apartments for Rent in Reed, OR
As of July 10, 2025 the best value apartment in the Reed 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 Reed apartment is the 3 Bed 1 Bath Model at Knight Apartments starting at $2,189 with a $1.95 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Z_Caritas Sacred Heart Villa | Studio | Studio ,1BA | $0.96 |
Knight Apartments | 3 Bed 1 Bath | 3BR,1BA | $1.95 |
Boathouse | 2 Bed F | 2BR,2BA | $2.15 |
Woodstock Apartments | 3x2 | 3BR,2BA | $2.07 |
Steele Apartments | Two Bedroom | 2BR,1BA | $2.12 |
Milwaukie Avenue Apartments | Bottom Floor | 2BR,1BA | $1.81 |
3808 SE Cesar Estrada Chavez Blvd, Unit 8 | 3808 SE Cesar Estrada Chavez Blvd | 2BR,1BA | $2.06 |
Moreland Place Apartments | 2x1 | 2BR,1BA | $1.90 |
The Morgan | The Morgan PDX C | 1BR,1BA | $2.06 |
2910 SE Gladstone St, Unit 2 | 2910 SE Gladstone St | 1BR,1BA | $2.08 |
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.
Pet Friendly LifestyleReed, Portland, OR
Ranked #33
Among neighborhoods in Portland, OR for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Reed, Portland, OR
School data provided by Great Schools
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.
Getting Around the Reed Neighborhood in Portland, OR
Walk Score®
70 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
91 / 100
Biker's Paradise
Daily errands can be accomplished on a bike
Transit Score®
49 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Reed Apartments
What is the Cheapest Studio apartment in Reed?
Currently the most affordable Cheap Studio Apartment in Reed is at Hazel Ying Lee Apartments listed at $950.
How much is rent for a Cheap One Bedroom Reed Apartment?
The lowest price for a Cheap One Bedroom Reed Apartment is $1,295 at Insley Apartments.
What is the lowest price for a Cheap Two Bedroom Reed Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Reed is starting from $1,399 at Moreland Place Apartments.
What is the most affordable Reed Three Bedroom Apartment?
The best deal on a cheap Reed Three Bedroom Apartment rental is at Knight Apartments and starts from $2,189.
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.