Cheap Apartments for Rent in the Reed Neighborhood of Portland, OR from $300 (164 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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Sanctuary
Rent Specials
$1,245 - $2,875
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$1,245 - $2,875
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Studio to 2 Bedroom Apartments Available Now

Sanctuary

4940 S Landing DrPortland, OR 97239
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Goat Blocks
Rent Specials
$1,275 - $3,451
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$1,275 - $3,451
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$1,275 - $3,451
Studio to 3 Bedroom Apartments Available Now

Goat Blocks

975 SE 11th AvePortland, OR 97214
Transit Friendly
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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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The Dylan
Rent Specials
$1,295 - $3,199
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$1,295 - $3,199
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Studio to 2 Bedroom Apartments Available Now

The Dylan

3883 S Moody AvePortland, OR 97239
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property at 8323 SE 62nd Ave

$1,300

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$1,300
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$1,300

1 Bedroom, 1 Bath Home for Rent

Available Now

8323 SE 62nd Ave

PortlandOR97206

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 Frankie
Rent Specials
$1,410 - $4,035
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$1,410 - $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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The Olivia
Rent Specials
$1,425 - $3,220
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$1,425 - $3,220
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1 Bedroom Apartments Available Now

The Olivia

3850 S Bond AvePortland, OR 97239
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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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Ella
Rent Specials
$1,429 - $10,000
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$1,429 - $10,000
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Studio to 2 Bedroom Apartments Available Now

Ella

3833 SW Bond AvePortland, OR 97239
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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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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 $975. Brooklyn Flats 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 ListingModel NameBed/BathPriced From
The Tristan0 Bedroom 1 Bath - 50411Studio,1BA$975
Brooklyn Flats0 Bedroom 1 Bath - 50384Studio,1BA$1,015
Gray's LandingstudioStudio,1BA$1,018
Warnell Apartments!0BR/1.0BAStudio,1BA$1,095
Brookland ApartmentsStudio, 1 BathroomStudio,1BA$1,129
Wimbledon Square And GardensSpaldingStudio,1BA$1,137
54 Woodstock Apartments~ Great Location ~Vibrant Neighborhood0BR/1.0BAStudio,1BA$1,150
Sellwood Apartments1x1 3891BR,1BA$1,175
Creston Villa1 Bedroom 1 Bath1BR,1BA$1,195
Margot010BR/1.0BAStudio,1BA$1,195

Best Value Apartments for Rent in Reed, OR

As of April 19, 2026 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 Bedroom Model at Francis Park starting at $1,990 with a $1.66 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
Francis Park3 Bedroom3BR,2BA$1.66
The Woodstock!3x23BR,2BA$1.97
Ashley Court Apartments2 Bedroom / 1.0 Bath2BR,1BA$1.78
The Enclave2 Bedroom2BR,1BA$1.75
Shady Glen ApartmentsTwo Bedroom 1 Bath2BR,1BA$1.62
Milwaukie Avenue ApartmentsBottom Floor2BR,1BA$1.81
Villa 34 Apartments1x11BR,1BA$1.63
Moreland Place Apartments2x12BR,1BA$1.90
2881 Francis SE St, Unit 202881 Francis SE St2BR,1BA$1.99

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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 the Cheapest Studio apartment in Reed?

Currently the most affordable Cheap Studio Apartment in Reed is at The Tristan listed at $975.

How much is rent for a Cheap One Bedroom Reed Apartment?

The lowest price for a Cheap One Bedroom Reed Apartment is $1,102 at Gray's Landing.

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 $1,290 at Gray's Landing.

What is the most affordable Reed Three Bedroom Apartment?

The best deal on a cheap Reed Three Bedroom Apartment rental is at Francis Park and starts from $1,990.

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.

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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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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.