Cheap Apartments for Rent in the Reed Neighborhood of Portland, OR from $500 (121 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Reed area of Portland.

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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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 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.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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Navigating the Rental Market: Tips for First-Time Renters

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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 The Tristan priced from $995. Studio Pointe Apartments 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
The TristanStudioStudio,1BA$995
Studio Pointe ApartmentsStudio 2Studio,1BA$995
Wimbledon Square And GardensSpaldingStudio,1BA$1,020
Brookland ApartmentsStudio, 1 BathroomStudio,1BA$1,049
Warnell Apartments!0BR/1.0BAStudio,1BA$1,095
54 Woodstock Apartments~ Great Location ~Vibrant Neighborhood0BR/1.0BAStudio,1BA$1,095
ShamrockSHAM 2x12BR,1BA$1,099
Sellwood ApartmentsStudio A1BR,1BA$1,100
Brooklyn Flats1 bed / 1 bath1BR,1BA$1,140

Best Value Apartments for Rent in Reed, OR

As of December 25, 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 2 Bedroom 1 Bath Model at Garden Park Apartments starting at $1,849 with a $1.82 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.
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Garden Park Apartments2 Bedroom 1 Bath2BR,1BA$1.82
Ravenbourne Apartments2x12BR,1BA$1.59
2322 SE Main St, Unit SE Hawthorne Upper Apt2322 SE Main St1BR,1BA$2.03
ShamrockSHAM 2x12BR,1BA$1.22
The Enclave2 Bedroom2BR,1BA$1.75
Creston Villa2 Bedroom 1 Bath - Upgraded2BR,1BA$1.93
Villa 34 Apartments1x11BR,1BA$1.87
Tristin Square Apartments1 Bedroom, 1 Bath lg1BR,1BA$2.00
5916 SE Francis St, Unit B5916 SE Francis St1BR,1BA$1.96

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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Pet Friendly Lifestyle
Reed, Portland, OR

Ranked #32

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
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.

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 $1,140.

What is the price of a cheap apartment in Reed?

The cheapest apartment in Reed is Sellwood Apartments which is listed at $1,100, while the average apartment in Reed costs $7,081.

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 20 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 $528 which is $6,553 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.

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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.

Articles, How-To's, and Tips

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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!