Cheap Apartments for Rent in the Southeast Portland Neighborhood of Portland, OR from $500 (277 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Southeast 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.

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Sullivan's Ridge
$1,046 - $2,332
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$1,046 - $2,332
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Studio to 2 Bedroom Apartments Available Now

Sullivan's Ridge

1710 NE Multnomah StPortland, OR 97232
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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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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
$1,213 - $7,872
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$1,213 - $7,872
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Studio to 2 Bedroom Apartments Available Now

Ella

3833 SW Bond AvePortland, OR 97239
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Division Street Lofts
Rent Specials
$1,215 - $1,591
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$1,190 - $1,566
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$25
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$1,215 - $1,591
Studio to 1 Bedroom Apartments Available Now

Division Street Lofts

4725 SE Division StPortland, OR 97206
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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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Grand Belmont
Rent Specials
$1,230 - $2,599
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$1,220 - $2,589
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Grand Belmont

514 SE Belmont StPortland, OR 97214
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Tabor View Lofts
Rent Specials
$1,235 - $2,126
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$1,210 - $2,101
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$25
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$1,235 - $2,126
Studio to 1 Bedroom Apartments Available Now

Tabor View Lofts

2655 SE 50th AvePortland, OR 97206
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Anthem PDX
Rent Specials
$1,249 - $4,395
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$1,249 - $4,395
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Anthem PDX

1313 E Burnside StPortland, OR 97232
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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.

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Southeast Portland, Portland, OR Local Guide

Cheapest Available Southeast Portland Apartments for Rent

 

The cheapest available apartment rental in the Southeast Portland area of Portland, OR is a Studio unit found at MILEPOST 5 priced from $630. Society 62 has the second lowest priced unit, which is a 1 Bed apartment currently listed from $795. Here are the most affordable Southeast Portland apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
MILEPOST 5Studio Just SinkStudio,$630
Society 62Private Room w/Bath1BR,1BA$795
Buri BuildingStudio SIMStudio,1BA$799
SM Multnomah Manor1X1- 50% HUD1BR,1BA$822
Melcliff Apartments0BR/1.0BAStudio,1BA$850
Terrace CourtStudioStudio,1BA$895
Louisa Flowers apartmentsStudioStudio,1BA$899
OrlostudioStudio,1BA$935
Studio Pointe ApartmentsStudio 1Studio,1BA$945
Buckman HeightsStudio - Income Restrictions ApplyStudio,1BA$949

Best Value Apartments for Rent in Southeast Portland, OR

As of March 23, 2026 the best value apartment in the Southeast Portland 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 Southeast Portland apartment is the 2x1 Model at Ravenbourne Apartments starting at $1,585 with a $1.59 price per square foot in the Southeast Portland neighborhood. Here is today’s list of the best values for Southeast Portland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Ravenbourne Apartments2x12BR,1BA$1.59
Garden Villa2x12BR,1BA$1.58
Lassam Terrace Apartments2 Bedroom 1 Bath2BR,1BA$1.58
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
CommonsThe Cedar2BR,1BA$1.58
Laurelwood Apartments1 BED 1 BATH1BR,1BA$1.60
Villa 34 Apartments1x11BR,1BA$1.63
Melissa Anne1x11BR,1BA$1.46
Westcott Properties1x11BR,1BA$1.54

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

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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
Southeast Portland, Portland, OR

Ranked #11

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
Southeast Portland, Portland, OR

School data provided by Great Schools

Lifestyle Ratings

This website is happy to bring you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Southeast Portland, Portland, and the greater Portland area. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including our Star Ratings to compare for easy access to the parks, luxury amenities, family-friendly amenities, raising pets, transit options, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Southeast Portland Apartments

What is a cheap apartment in Southeast Portland?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Southeast Portland is under $949.

What is the price of a cheap apartment in Southeast Portland?

The cheapest apartment in Southeast Portland is Society 62 which is listed at $795, while the average apartment in Southeast Portland costs $14,927.

What types of apartments are the cheapest in Southeast Portland?

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 199 regular apartments in Southeast Portland 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 Southeast Portland?

Cheap apartments in Southeast Portland have an average cost of $227 which is $14,700 cheaper than the average rent for all rentals in Southeast Portland.

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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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.

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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.