Cheap Apartments for Rent in the Reed Neighborhood of Portland, OR from $500 (120 Rentals)

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

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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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 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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BD52
Rent Specials
$1,399 - $1,750Studio to 1 Bedroom Apartments Available Now

BD52

6615 SE 52nd AvePortland, OR 97206
Transit Friendly
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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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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 Hazel Ying Lee Apartments priced from $950. The Tristan 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
Hazel Ying Lee ApartmentsStudioStudio,1BA$950
The TristanStudioStudio,1BA$995
Enclave 54Studio 1Studio,1BA$995
Tabor CommonsMicro Studio-BStudio,1BA$1,050
The LenoxStudioStudio,1BA$1,120
Wimbledon Square And GardensSpaldingStudio,1BA$1,137
Studio Pointe ApartmentsStudio 1Studio,1BA$1,145
54 Woodstock , Studios & One Bedrooms0BR/1.0BAStudio,1BA$1,150
Sellwood ApartmentsStudio AStudio,1BA$1,175

Best Value Apartments for Rent in Reed, OR

As of September 22, 2025 the best value apartment in the Reed area is the $1.31 price per square foot 5324 SE Flavel St Model at 5324 SE Flavel St, Unit 5324 in the in the Southeast Portland neighborhood starting from $2,450. 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.
5324 SE Flavel St, Unit 53245324 SE Flavel St3BR,1BA$1.31
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Garden Park Apartments2 Bedroom 1 Bath2BR,1BA$2.06
Ashley Court Apartments2 Bedroom / 1.0 Bath2BR,1BA$1.76
The Enclave2 Bedroom2BR,1BA$1.75
Shady Glen ApartmentsTwo Bedroom 1 Bath2BR,1BA$1.88
1330 SE Lafayette St2 Bd/1 Bath2BR,1BA$1.80
4204 - 4232 SE Cesar E Chavez Blvd2BR/1.0BA2BR,1BA$2.13
2028 SE Harold St, Unit B2028 SE Harold St1BR,1BA$2.10
ShamrockSHAM 1x11BR,1BA$1.93

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Reed, Portland, OR

Ranked #31

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.

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 $1,135 at Wimbledon Square And Gardens.

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 $1,350 at 1330 SE Lafayette St.

What is the most affordable Reed Three Bedroom Apartment?

The best deal on a cheap Reed Three Bedroom Apartment rental is at The Frankie and starts from $3,893.

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.

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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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.