Cheap Apartments for Rent in the Southeast Portland Neighborhood of Portland, OR from $500 (296 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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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 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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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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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 2 Beds unit found at Center Village priced from $621. MILEPOST 5 has the second lowest priced unit, which is a Studio apartment currently listed from $630. Here are the most affordable Southeast Portland apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Center Villageb1.12BR,1BA$621
MILEPOST 5Studio Just SinkStudio,$630
Society 62Private Room w/Bath1BR,1BA$795
Buri BuildingStudio SIMStudio,1BA$799
SM Multnomah Manor1X1- 50% HUD1BR,1BA$822
Terrace CourtStudioStudio,1BA$895
Louisa Flowers apartmentsStudioStudio,1BA$899
OrlostudioStudio,1BA$935
Studio Pointe ApartmentsStudio 1Studio,1BA$945
Koz on 13thStudioStudio,1BA$952

Best Value Apartments for Rent in Southeast Portland, OR

As of January 27, 2026 the best value apartment in the Southeast Portland area is the $1.25 price per square foot 2124 SE Elliott Ave Model at 2124 SE Elliott Ave, Unit 1 in the in the Southeast Portland neighborhood starting from $3,500. The second greatest value Southeast Portland apartment is the Studio or Loft Model at Belmont Dairy Apartments and Lofts starting at $1,258 with a $0.85 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.
2124 SE Elliott Ave, Unit 12124 SE Elliott Ave2BR,2BA$1.25
Belmont Dairy Apartments and LoftsStudio or LoftStudio ,1BA$0.85
Center Villaged2.24BR,2BA$1.37
1223 NE Schuyler St, Unit 31223 NE Schuyler St1BR,1BA$1.48
Ravenbourne Apartments2x12BR,1BA$1.59
Shannon2BR/1.0BA2BR,1BA$1.48
6205 SE 92nd Ave, Unit A6205 SE 92nd Ave2BR,2BA$1.50
Laurelwood2 Bed 1 Bath2BR,1BA$1.41
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
Westcott PropertiesStudioStudio ,1BA$1.57

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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Quick Rent Budget Calculator

How much rent can you afford?

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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Pet Friendly Lifestyle
Southeast Portland, Portland, OR

Ranked #12

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 $952.

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 $10,827.

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 216 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 $265 which is $10,562 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.

Articles, How-To's, and Tips

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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.

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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.