Cheap Homes for Rent in Portland, OR from $800 (198 Rentals)

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Search the lowest-cost Homes available for rent right now in Portland.

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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property at 13265 SW Barlow Rd

13265 SW Barlow Rd

BeavertonOR97008
property at 5130 N Yale St

5130 N Yale St

PortlandOR97203

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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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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property at 5515 N Syracuse St

5515 N Syracuse 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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Portland, OR Local Guide

Cheapest Neighborhoods for Apartments in Portland, OR

Pricing Updated: 05/13/2025

Current apartment rentals in the Portland, OR area range in price from $800 to $15,000 with an overall median price of $3,689. The three Portland neighborhoods with the lowest median rent pricing are Greenway at $1,495, Downtown Gresham at $1,545, and Central Park at $1,450. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Portland Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Greenway$1,495$1,4951
Downtown Gresham$1,545$1,5452
Central Park$1,572$1,4502
Historic Milwaukie$1,585$1,3701
Hudsons Bay$1,595$1,4503
Highland$1,695$87510
Jennings Lodge$1,695$1,6951
Park Blocks$1,795$1,0954
Waterfront$1,795$1,7002
Glenfair$1,800$1,8001

Cheapest Available Portland Apartments for Rent

 

The cheapest available apartment rental in Portland, OR is a 1 Bed unit found at Las Adelitas in the Cully neighborhood priced from $451. MILEPOST 5 in the Southeast Portland neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $620. Here is today’s list of the most affordable Portland apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Las Adelitas1 Bedroom 1 Bath - 30% AMI PSH1BR,1BA$451
MILEPOST 5SROStudio,$620
Modern Rich Apartments0BR/1.0BAStudio,1BA$649
Society 62Private Room1BR,$700
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$729
Zeal LoftsStudio 2Studio,1BA$795
Morrison Park ApartmentsStudio - 50%Studio,1BA$800
SM Multnomah Manor1X1- 50% HUD1BR,1BA$822
Margaret Carter PlazaOne Bathroom One Bedroom HUD Unit1BR,1BA$848
Katherine Apartments0BR/1.0BAStudio,1BA$850

Best Value Apartments for Rent in Portland, OR

As of May 13, 2025 the best value apartment in the Portland area is the $1.20 price per square foot 3x2.5 Model at The Willows in the in the East Portland neighborhood starting from $2,595. The second greatest value Portland apartment is the Studio Model at Z_Caritas Sacred Heart Villa starting at $1,438 with a $0.96 price per square foot in the Southeast Portland 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.
The Willows3x2.53BR,2.5BA$1.20
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
Los Jardines de la Paz4 Bedroom 2 Baths4BR,2BA$1.04
3900 Canal Rd3900 Canal Rd1BR,1BA$1.33
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

Quick Rent Budget Calculator

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Frequently Asked Questions about Portland

What type of rentals are currently available in Portland?

There are currently 6324 Apartments for Rent in Portland, OR with pricing that ranges from $451 to $26,948. There are also 645 Single Family Homes for rent, Condos, and Townhome rentals currently available in Portland ranging from $800 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 $800 to $15,000 with an average monthly rent of $3,238.

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 $1,625 to $5,999. Four Bedroom Single-Family rentals are also available starting from $2,395 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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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.