Apartments for Rent in Portland, OR Under $1,500(1,255 Rentals)

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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

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5 MLK
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from $1,499Studio to 2 Bedroom Apartments Available Now

5 MLK

5 SE Martin Luther King Jr BlvdPortland, OR 97214
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Portland, OR Local Guide

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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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 Portland

How much are Studio apartments in Portland?

There are currently 820 Studio Apartments in Portland with rent ranges from $700 to $7,088 with an average price of $1,478.

What is the current price range for One Bedroom Portland Apartments for rent?

Today's rental pricing for One Bedroom Apartments in Portland ranges from $800 to $14,027 with an average monthly rent of $1,898.

What does renting a Two Bedroom Apartment in Portland cost?

The monthly rent prices of Two Bedroom Apartments currently available in Portland range from $1,095 to $20,000. Today's average rental price for Two Bedrooms here is $2,341.

How expensive are Portland Three Bedroom Apartments?

There are currently 826 Three Bedroom Apartments listings available in Portland on ApartmentHomeLiving.com. The pricing ranges from $1,400 to $10,000 - averaging $2,627 for the location.

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.

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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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Signing Your Apartment Lease: The Basics

Written by: Trey Huguley

When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.

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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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Real Estate Term Glossary: Your Guide to The A to Zs of Renting

Written by: Kevin Ready

Navigating the world of real estate can reveal an abundance of terminology and phrasing around the topics of renting and buying that for some may seem like a brand-new language.