Cheap Homes for Rent in Southeast Portland Neighborhood of Portland, OR from $500 (36 Rentals)

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Search the lowest-cost Homes available for rent right now in the Southeast Portland 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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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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property at 2618 SE 51st Ave

$1,550

Total Monthly Price

Total Monthly Price

Base Rent
$1,550
Total Monthly Price
$1,550

1 Bedroom, 1 Bath Condo for Rent

Available Now

2618 SE 51st Ave, Unit B

2618 SE 51st Ave
PortlandOR97206

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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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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Showing Results 1-36, Page 1 of 1

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
SM Multnomah Manor1X1- 50% HUD1BR,1BA$822
OrlostudioStudio,1BA$935
Hazel Ying Lee ApartmentsStudioStudio,1BA$950
Tabor CommonsMicro Studio-AStudio,1BA$995
8023-8069 NE Flanders St1 Beds, 1 Baths1BR,1BA$995
Wellesley Court Apartments0BR/1.0BAStudio,1BA$995
Louisa Flowers apartmentsStudioStudio,1BA$999

Best Value Apartments for Rent in Southeast Portland, OR

As of June 16, 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 2 Beds, 1 Baths Model at Crown Point Apartments starting at $1,400 with a $1.27 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
Crown Point Apartments2 Beds, 1 Baths2BR,1BA$1.27
Ravenbourne Apartments2x12BR,1BA$1.59
Lassam Terrace Apartments2 Bedroom Townhome2BR,1.5BA$1.44
Oliver Station Apartments2 Bedroom Home2BR,1BA$1.62
Parkland Apartments2 bedroom2BR,2BA$1.57
Shady Glen Apartments1 Bedroom 1 Bath1BR,1BA$1.48
Bellrose Station2x12BR,1BA$1.46
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
Hunter's Ridge Apartments2 Beds, 1 bath2BR,1BA$1.61

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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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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

Frequently Asked Questions about Southeast Portland

What type of rentals are currently available in Southeast Portland?

There are currently 1797 Apartments for Rent in Southeast Portland, OR with pricing that ranges from $700 to $11,313. There are also 122 Single Family Homes for rent, Condos, and Townhome rentals currently available in Southeast Portland ranging from $590 to $6,500.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Southeast Portland ranges from $590 to $6,500 with an average monthly rent of $2,746.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Southeast Portland range from $1,649 to $9,451, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,995 to $6,500. Four Bedroom Single-Family rentals are also available starting from $2,445 and Four Bedroom Apartments start at $3,595.

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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.