Cheap Homes for Rent in Portland, OR from $900 (191 Rentals)

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property at 5130 N Yale St

5130 N Yale St

PortlandOR97203

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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property at 6850 SW 68th Ave

6850 SW 68th Ave

PortlandOR97223
property at 1829 NW LOVEJOY

1829 NW LOVEJOY

PortlandOR97209
Showing Results 1-50, Page 1 of 4

Portland, OR Local Guide

Cheapest Neighborhoods for Apartments in Portland, OR

Pricing Updated: 04/17/2025

Current apartment rentals in the Portland, OR area range in price from $500 to $26,948 with an overall median price of $3,102. The three Portland neighborhoods with the lowest median rent pricing are Beaumont Wilshire at $1,195, Far Southwest at $1,295, and Glenfair at $999. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Beaumont Wilshire$1,195$1,1951
Far Southwest$1,295$1,2952
Glenfair$1,540$999119
Lents Powellhurst Gilbert$1,595$1,5951
Mt Scott Arleta$1,647$95013
Cathedral Park$1,665$1,10049
St. Johns$1,665$99558
Central Northeast Portland$1,685$1,06338
Piedmont$1,745$6603
Fruit Valley$1,750$98141

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a Studio unit found at MILEPOST 5 in the Southeast Portland neighborhood priced from $620. Modern Rich Apartments in the Downtown neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $649. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
MILEPOST 5SROStudio,$620
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$729
Morrison Park ApartmentsStudio - 50%Studio,1BA$800
Zeal LoftsS - Standard 1Studio,1BA$820
SM Multnomah Manor1X1- 50% HUD1BR,1BA$822
Villa de Suenos4 Bedroom 2 Baths PBV unit at 30% AMI4BR,2BA$848
Margaret Carter PlazaOne Bathroom One Bedroom HUD Unit1BR,1BA$848
The Village Coliving Community1BR/1.0BA1BR,1BA$850
Maya Angelou2 Bedroon 1 Bath2BR,1BA$878

Best Value Apartments for Rent in Portland, OR

As of April 17, 2025 the best value apartment in the 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 Portland apartment is the 4 Bed 2 Bath PBV 60% MTSP Rent Limit Model at Clara Vista Townhomes starting at $1,696 with a $1.20 price per square foot in the Cully neighborhood. Here is today’s list of the best values for Portland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Clara Vista Townhomes4 Bed 2 Bath PBV 60% MTSP Rent Limit4BR,2BA$1.20
Los Jardines de la Paz4 Bedroom 2 Baths4BR,2BA$1.04
Villa de Suenos4 Bedroom 2 Baths PBV unit at 30% AMI4BR,2BA$0.65
Lincoln Townhomes2 Bedroom 1.5 Bath sm2BR,1.5BA$1.30
Plaza de Cedro3 bedroom3BR,2BA$1.10
Irish Moss Plaza Apartments3BR 1 Bath3BR,1BA$1.31
Village Park ApartmentsGeneva2BR,1.5BA$1.29
SM Multnomah Manor1X1- 50% HUD1BR,1BA$1.03
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$1.35

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Frequently Asked Questions about Portland

What type of rentals are currently available in Portland?

There are currently 6293 Apartments for Rent in Portland, OR with pricing that ranges from $500 to $26,948. There are also 558 Single Family Homes for rent, Condos, and Townhome rentals currently available in Portland ranging from $900 to $15,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Portland ranges from $900 to $15,000 with an average monthly rent of $3,157.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Portland range from $1,245 to $26,948, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,795 to $8,500. Four Bedroom Single-Family rentals are also available starting from $2,295 and Four Bedroom Apartments start at $1,889.

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.

decorative image for A Portland Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent article

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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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.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.