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$470 - $1,458Studio to 3 Bedroom Apartments Contact Us For Availability
The Vera
2045 SW River PkyPortland, OR 97201
Cheap Apartments for Rent in the South Waterfront Neighborhood of Portland, OR from $400 (63 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Waterfront area of Portland.
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$480 - $1,785Studio to 3 Bedroom Apartments Available Now
Waterleaf
2065 S River PkyPortland, OR 97201
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$875 - $990Studio Apartments Available Now
Regency Apartments
1410 SW BroadwayPortland, OR 97201
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$999 - $1,485Studio to 2 Bedroom Apartments Available Now
Derby Slabtown
1075 NW 16th StPortland, OR 97209
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$999 - $1,249Studio Apartments Available Now
Park Avenue Apartments
2059 SW Park AvePortland, OR 97201
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$1,018 - $1,290Studio to 2 Bedroom Apartments Available Now
Gray's Landing
0650 S Lowell StPortland, OR 97239
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$1,019 - $2,095Studio to 3 Bedroom Apartments Available Now
The Vue
1717 SW Park AvePortland, OR 97201
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$1,025 - $1,300Studio to 1 Bedroom Apartments Available Now
Ongford Apartments
1417 SW 10th AvePortland, OR 97201
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Rent Specials
$1,195 - $2,875
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,195 - $2,875
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$1,195 - $2,875
Sanctuary
4940 S Landing DrPortland, OR 97239
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$1,199 - $4,164Studio to 3 Bedroom Apartments Available Now
Collective on 4th
1818 SW 4th AvePortland, OR 97201
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$1,225 - $2,300Studio to 2 Bedroom Apartments Available Now
11 Marché Apartments
1115 SW Market StPortland, OR 97201
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$1,225 - $2,495Studio to 2 Bedroom Apartments Available Now
The Woods on Marquam Hill
1311 SW Gibbs StPortland, OR 97239
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$1,232 - $2,770Studio to 2 Bedroom Apartments Available Now
Yard
22 NE 2nd AvePortland, OR 97232
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$1,235 - $3,180Studio to 2 Bedroom Apartments Available Now
The Matisse
677 S Lowell StPortland, OR 97239
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Rent Specials
$1,245 - $2,559
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$1,235 - $2,549
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Grand Belmont
514 SE Belmont StPortland, OR 97214
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$1,249 - $1,350Studio to 1 Bedroom Apartments Available Now
The Emery Apartments
3155 S Moody AvePortland, OR 97239
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$1,289 - $3,805Studio to 2 Bedroom Apartments Available Now
Gossamer
255 NW 10th AvePortland, OR 97209
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$1,290 - $3,600Studio to 2 Bedroom Apartments Available Now
Slabtown Square
2070 NW Quimby StPortland, OR 97209
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Rent Specials
$1,295 - $3,199
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,295 - $3,199
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The Dylan
3883 S Moody AvePortland, OR 97239
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$1,299 - $1,960Studio to 2 Bedroom Apartments Available Now
The Weidler
1784 NW Northrup StPortland, OR 97209
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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$1,325 - $2,250
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$1,325 - $2,250
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mResidences Portland Pearl District
1155 NW Everett StPortland, OR 97209
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$1,335 - $2,040Studio to 3 Bedroom Apartments Available Apr 30
Sunshine Portland
3650 SE 29th AvePortland, OR 97202
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$1,337 - $9,687
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,337 - $9,687
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Ella
3833 SW Bond AvePortland, OR 97239
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$1,349 - $3,000Studio to 2 Bedroom Apartments Available Now
Hassalo on Eighth
1061 NE 9th AvePortland, OR 97232
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Rent Specials
$1,350 - $4,140
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,275 - $4,065
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Millhouse
1985-1988 NW Savier StPortland, OR 97209
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$1,350 - $1,995Studio to 1 Bedroom Apartments Contact Us For Availability
The Marilyn
2390 SE Hawthorne BlvdPortland, OR 97214
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Rent Specials
$1,355 - $2,325Studio to 2 Bedroom Apartments Available Now
Skylar Grand
465 NE Davis StPortland, OR 97232
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Rent Specials
$1,394 - $2,590
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Studio to 4 Bedroom Apartments Available NowTotal Monthly Price
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$1,394 - $2,590
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The Douglas
1811 SW River DrPortland, OR 97201
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$1,400 - $1,850Studio to 1 Bedroom Apartments Available Now
Corbett Heights
SW Corbett AvePortland, OR 97239
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$1,400 - $5,989
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$1,400 - $5,989
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Portland Astoria
140 SW Columbia StPortland, OR 97201
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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$1,410 - $4,035
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Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,410 - $4,035
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The Frankie
3260 SE Milwaukie AvePortland, OR 97202
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$1,425 - $3,220
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$1,425 - $3,220
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The Olivia
3850 S Bond AvePortland, OR 97239
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$1,432 - $4,483Studio to 2 Bedroom Apartments Available Now
Kearney Plaza
931 NW 11th AvePortland, OR 97209
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$1,435 - $2,0251 to 2 Bedroom Apartments Available Now
Cascade Vista
5132 SW Slavin RdPortland, OR 97239
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Rent Specials
$1,436 - $2,964
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,423 - $2,951
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$13
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$1,436 - $2,964
Asa Flats and Lofts
1200 NW Marshall StPortland, OR 97209
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$1,442 - $3,953Studio to 2 Bedroom Apartments Available Now
Park Avenue West
750 SW 9th AvePortland, OR 97205
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$1,446 - $2,9591 to 2 Bedroom Apartments Available Now
Osprey
3750 S River PkyPortland, OR 97239
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$1,449 - $3,150
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$1,449 - $3,150
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Holloway
2050 Northeast Pacific StreetPortland, OR 97232
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$1,475 - $4,631
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$1,475 - $4,631
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The Linden
1250 E Burnside StPortland, OR 97214
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$1,484 - $6,186
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$1,484 - $6,186
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Alta Art Tower
1510 SW Alder StPortland, OR 97205
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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$1,515 - $3,060
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$1,515 - $3,060
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Griffis South Waterfront
650 S Gaines StPortland, OR 97239
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$1,535 - $3,656Studio to 2 Bedroom Apartments Available Now
Burnside 26
2625 E Burnside StPortland, OR 97214
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$1,545 - $5,607
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,545 - $5,607
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Sawbuck
1725 SW Salmon StPortland, OR 97205
3717 S Corbett Ave
PortlandOR97239
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$1,570 - $8,930Studio to 2 Bedroom Apartments Available Now
Byline
1640 SW Yamhill StPortland, OR 97205
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$1,590 - $3,8351 to 2 Bedroom Apartments Available Now
The Parker
1447 NW 12th AvePortland, OR 97209
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$1,599 - $1,699Studio to 1 Bedroom Apartments Available Now
East of Eleven
310 SE 12th AvePortland, OR 97214
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Rent Specials
$1,624 - $3,576
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,624 - $3,576
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5 MLK
5 SE Martin Luther King Jr BlvdPortland, OR 97214
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$1,649 - $4,5001 to 2 Bedroom Apartments Available Now
The Louisa Apartments
123 NW 12th AvePortland, OR 97209
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$1,670 - $10,000Studio to 2 Bedroom Apartments Available Now
Akoya
1430 NW Hoyt StPortland, OR 97209
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.
South Waterfront, Portland, OR Local Guide
How much does it cost to rent an apartment in South Waterfront?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| South Waterfront Studio Apartments | $1,482 | $470 | $5,607 |
| South Waterfront 1 Bedroom Apartments | $2,044 | $1,056 | $6,675 |
| South Waterfront 2 Bedroom Apartments | $3,191 | $1,264 | $8,930 |
| South Waterfront 3 Bedroom Apartments | $2,314 | $1,458 | $4,035 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 63 rentals with your search options within a 2 mile radius of the South Waterfront Neighborhood of Portland, OR.
See all Apartments in PortlandExplore Portland
South Waterfront, Portland, OR Local Guide
- Nearby Portland neighborhoods
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Cheapest Available South Waterfront Apartments for Rent
The cheapest available apartment rental in the South Waterfront area of Portland, OR is a Studio unit found at Waterleaf priced from $480. Regency Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $875. Here are the most affordable South Waterfront apartments for rent in Portland, OR:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Waterleaf | Studio | Studio,1BA | $480 |
| Regency Apartments | Studio A | Studio,1BA | $875 |
| Derby Slabtown | Studio-S MULTE | Studio,1BA | $999 |
| Park Avenue Apartments | Studio | Studio,1BA | $999 |
| Gray's Landing | studio | Studio,1BA | $1,018 |
| The Vue | The Pearl | Studio,1BA | $1,019 |
| Ongford Apartments | Studio | Studio,1BA | $1,025 |
| Sanctuary | Landing C | Studio,1BA | $1,195 |
| Collective on 4th | Studio C - Deluxe | Studio,1BA | $1,199 |
| The Woods on Marquam Hill | Studio A | Studio,1BA | $1,225 |
Best Value Apartments for Rent in South Waterfront, OR
As of April 05, 2026 the best value apartment in the South Waterfront area is the $2.50 price per square foot Unit A Model at Park Avenue West in the in the Northwest Portland neighborhood starting from $3,325. The second greatest value South Waterfront apartment is the 22F1 Model at The Matisse starting at $2,285 with a $2.10 price per square foot in the Southwest Portland neighborhood. Here is today’s list of the best values for South Waterfront apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Park Avenue West | Unit A | 2BR,2BA | $2.50 |
| The Matisse | 22F1 | 2BR,2BA | $2.10 |
| Cascade Vista | Two Bedroom A | 2BR,1BA | $1.68 |
| Burlington Tower | F | 1BR,1BA | $2.23 |
| Hoodview Apartments | 2BR/1.0BA | 2BR,1BA | $1.87 |
| Slate Apartments | A03 | 1BR,1BA | $2.28 |
| Ella | A5.1-5.2 | 1BR,1BA | $2.31 |
| Waterleaf | 1 Bedroom 1 Bath | 1BR,1BA | $1.64 |
| Ongford Apartments | Studio | Studio ,1BA | $2.09 |
| Gray's Landing | studio | Studio ,1BA | $2.17 |
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!
Read ArticleDon'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.
Read ArticleThe 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.
Read ArticleCash 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.
Read ArticleA 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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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.
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If you’re an expert on all things South Waterfront, tell us what you love (and don't) by rating it and writing a review.
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Pet Friendly LifestyleSouth Waterfront, Portland, OR
Ranked #26
Among cities in Oregon for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Cheap South Waterfront Apartments
What is a cheap apartment in South Waterfront?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Waterfront is under $1,225.
What is the price of a cheap apartment in South Waterfront?
The cheapest apartment in South Waterfront is Gray's Landing which is listed at $1,102, while the average apartment in South Waterfront costs $2,959.
What types of apartments are the cheapest in South Waterfront?
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 99 regular apartments in South Waterfront 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 South Waterfront?
Cheap apartments in South Waterfront have an average cost of $928 which is $2,031 cheaper than the average rent for all rentals in South Waterfront.
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
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.
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.
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.
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
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.
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.
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.
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.