Cheap Apartments for Rent in the Vernon Neighborhood of Portland, OR from $500 (155 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Vernon 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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property at 2007 NE Broadway

$1,015 - $1,625

Studio To 2 Bedroom Rentals

Available Now

2007 NE Broadway

PortlandOR97232

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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Vernon, Portland, OR Local Guide

Cheapest Available Vernon Apartments for Rent

 

The cheapest available apartment rental in the Vernon area of Portland, OR is a Studio unit found at Albina Plaza priced from $856. King Dishman has the second lowest priced unit, which is a 1 Bed apartment currently listed from $875. Here are the most affordable Vernon apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Albina Plaza0 Bedroom 1 BathStudio,1BA$856
King DishmanOne Bathroom One Bathoom HUD Unit1BR,1BA$875
Maya Angelou1 Bedroom 1 Bath1BR,1BA$885
Zeal LoftsStudio 3Studio,1BA$925
Dawson Park Apartments1 Bdrm1BR,1BA$925
Koz on KillingsworthStudioStudio,1BA$929
Dekum CourtStudio NON-SUBSIDIZED1BR,1BA$941
Kenton CommonsStudioStudio,1BA$950
Koz on SandyStudioStudio,1BA$999
PacelineThe Spoke - Income RestrictedStudio,1BA$999

Best Value Apartments for Rent in Vernon, OR

As of December 25, 2025 the best value apartment in the Vernon area is the $1.53 price per square foot 4 Bed 4 Bath Model at 140 Sacramento Townhomes in the in the Northeast Portland neighborhood starting from $3,900. The second greatest value Vernon apartment is the lxl Model at Irvington Apartments starting at $1,425 with a $1.68 price per square foot in the Southeast Portland neighborhood. Here is today’s list of the best values for Vernon apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
140 Sacramento Townhomes4 Bed 4 Bath4BR,4BA$1.53
Irvington Apartmentslxl1BR,1BA$1.68
1509 NE 10th Ave, Unit unit 3011509 NE 10th Ave1BR,1BA$1.82
The Russell by Trion Living1x1d1BR,1BA$1.86
5404 NE 54th Ave, Unit B5404 NE 54th Ave1BR,1BA$1.71
Westcott Properties1x11BR,1BA$1.54
Albina Plaza0 Bedroom 1 BathStudio ,1BA$1.43
Maya Angelou1 Bedroom 1 Bath1BR,1BA$1.49
Dawson Park Apartments1 Bdrm1BR,1BA$1.56
King DishmanOne Bathroom One Bathoom HUD Unit1BR,1BA$1.54

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
Vernon, Portland, OR

Ranked #20

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
Vernon, Portland, OR

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Vernon, Portland, and the greater Portland area. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and the best proximity to parks and outdoor amenities, transit availability, pet-friendly communities, apartment communities for the kids, in addition to floorplans, availablity, and pricing. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Vernon Apartments

What is a cheap apartment in Vernon?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Vernon is under $999.

What is the price of a cheap apartment in Vernon?

The cheapest apartment in Vernon is King Dishman which is listed at $875, while the average apartment in Vernon costs $7,772.

What types of apartments are the cheapest in Vernon?

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 43 regular apartments in Vernon 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 Vernon?

Cheap apartments in Vernon have an average cost of $134 which is $7,638 cheaper than the average rent for all rentals in Vernon.

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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!