Cheap Homes for Rent in South Portland Neighborhood of Portland, OR from $1,200 (5 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Homes available for rent right now in the South Portland 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.

property at 3601 S River Pkwy

3601 S River Pkwy

PortlandOR97239

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.

Cheapest Available South Portland Apartments for Rent

 

The cheapest available apartment rental in the South Portland area of Portland, OR is a Studio unit found at Koz on 4th priced from $941. Waterleaf has the second lowest priced unit, which is a Studio apartment currently listed from $999. Here are the most affordable South Portland apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Koz on 4thStudioStudio,1BA$941
WaterleafStudio-60%Studio,1BA$999
Acqua Apartments - Student AffordableStudioStudio,1BA$1,005

Best Value Apartments for Rent in South Portland, OR

As of November 14, 2025 the best value apartment in the South Portland area is the $2.17 price per square foot 2 bedroom 2 bath flat large Model at Sophia's View in the in the Southwest Portland neighborhood starting from $3,490. The second greatest value South Portland apartment is the 131 SW Hooker St Model at 131 SW Hooker St, Unit 131 starting at $2,175 with a $1.98 price per square foot in the Southwest Portland neighborhood. Here is today’s list of the best values for South Portland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sophia's View2 bedroom 2 bath flat large2BR,2BA$2.17
131 SW Hooker St, Unit 131131 SW Hooker St2BR,1BA$1.98
The Matisse22F12BR,2BA$2.05
5830 S Kelly Ave, Unit #15830 S Kelly Ave2BR,1BA$1.80
Hoodview Apartments2BR/1.0BA2BR,1BA$1.87
Modern New Construction 1BR/1.0BA1BR,1BA$1.79
WaterleafStudio-60%Studio ,1BA$1.74
EllaS1.1Studio ,1BA$2.34
Acqua Apartments - Student AffordableStudioStudio ,1BA$2.31
Koz on 4thStudioStudio ,1BA$2.64

Frequently Asked Questions about South Portland

What type of rentals are currently available in South Portland?

There are currently 123 Apartments for Rent in South Portland, OR with pricing that ranges from $941 to $9,214. There are also 27 Single Family Homes for rent, Condos, and Townhome rentals currently available in South Portland ranging from $1,295 to $3,840.

What is the current price range for Rental Homes in South Portland?

Today's rental pricing for Homes for Rent, Condos and Townhomes in South Portland ranges from $1,295 to $3,840 with an average monthly rent of $2,463.

How much are larger Three and Four Bedroom Rentals in South Portland?

For those who are looking for larger living arrangements, Three Bedroom Apartments in South Portland range from $1,773 to $6,999, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,400 to $3,840. Four Bedroom Single-Family rentals are also available starting from $2,995 and Four Bedroom Apartments start at $4,617.

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.

decorative image for A Portland Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent article

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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

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.