
Cheap New Apartments for Rent in Portland, OR from $500 (405 Rentals)
Search the lowest-cost Apartments available for rent right now in Portland.


The Village Coliving Community

Tiller Terrace

The Outpost Coliving Community

Koz on 4th

Buri Building

Koz on Killingsworth

Hazel Ying Lee Apartments

Glendoveer Woods Apartments

TimberView
Portland’s Best Affordable Neighborhoods
Learn about Portland and the best places to live with original content written by our Portland, OR Local Expert Chad Deitchley

Koz on Interstate

The Bria Apartments

Kenton Commons

Studio Pointe Apartments

Koz on NW 16th

Derby Slabtown

Koz on 13th

The Collective on 4th

Dean River

Vine Maple

Huckleberry Apartments

D Street Salal Apartments

Koz on Sandy

311 NE Graham St

Fargo

The Amy

Lyra

Nomad Apartments

Brooklyn Flats

Shift

Analog PDX

King Street Lofts

107th Apartments

Lower Burnside Lofts

Monroe Street Apartments

Fern Grove

54 Woodstock

Tabor Commons

Emmons Place

Waterleaf

Q21 Apartments

Traditions at Hazelwood a 55+ Community

Commons at Sylvan Canyon Apartments

Acqua

Memoir Buckman

Kentonwood Dimensions

The Aurora

Cathedral Village

Savona Apartments

Rose City Flats: New Apartments near the Iconic Hollywood District
Portland, OR Local Guide

How much does it cost to rent an apartment in Portland?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Portland Studio Apartments | $1,461 | $500 | $10,000+ |
Portland 1 Bedroom Apartments | $1,895 | $850 | $10,000+ |
Portland 2 Bedroom Apartments | $2,300 | $1,075 | $10,000+ |
Portland 3 Bedroom Apartments | $2,779 | $1,245 | $10,000+ |
Portland 4 Bedroom Apartments | $2,443 | $1,813 | $4,242 |
Portland 5 Bedroom Apartments | $4,500 | $4,500 | $4,500 |
Explore Portland
Portland, OR Local Guide
- Portland Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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.
Getting Around Portland, OR
Walk Score®
75 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
85 / 100
Very Bikeable
Biking is convenient for most trips
Transit Score®
54 / 100
Good Transit
Many nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Portland Apartments
What is a cheap apartment in Portland?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Portland is under $729.
What is the price of a cheap apartment in Portland?
The cheapest apartment in Portland is Society 62 which is listed at $700, while the average apartment in Portland costs $2,936.
What types of apartments are the cheapest in 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 115,601 regular apartments in 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 Portland?
Cheap apartments in Portland have an average cost of $419 which is $2,517 cheaper than the average rent for all rentals in Portland.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
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.

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.

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting
Written by: Andrea Lee Negroni, JD
While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

Understanding Amenity Fees: Know Where You Might Be Able to Save Money
Written by: Amber Kanuckel
With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

How Your Move-In Inspection Can Protect Your Security Deposit
Written by: Christine Leonard, Esq.
If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.