Cheap Apartments for Rent in the Northeast Portland Neighborhood of Portland, OR from $500 (135 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Northeast Portland area of Portland.

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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Northeast Portland, Portland, OR Local Guide

Cheapest Available Northeast Portland Apartments for Rent

 

The cheapest available apartment rental in the Northeast Portland area of Portland, OR is a 1 Bed unit found at Park Terrace priced from $729. Margaret Carter Plaza has the second lowest priced unit, which is a 1 Bed apartment currently listed from $802. Here are the most affordable Northeast Portland apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Park TerraceOne Bedroom One Bathroom Unit Income and rent r...1BR,1BA$729
Margaret Carter PlazaOne Bathroom One Bedroom HUD Unit1BR,1BA$802
Zeal LoftsS - Standard 1Studio,1BA$820
The Village Coliving Community1BR/1.0BA1BR,1BA$850
Maya Angelou2 Bedroon 1 Bath2BR,1BA$878
Ascend Apartments: New Micro Studios and LoftsStudio 1Studio,1BA$895
Kimberly Court1BR/1.0BA1BR,1BA$895
Koz on KillingsworthStudioStudio,1BA$943

Best Value Apartments for Rent in Northeast Portland, OR

As of March 27, 2025 the best value apartment in the Northeast Portland area is the $1.97 price per square foot Corner Model at 838 North Vancouver Avenue in the in the Northeast Portland neighborhood starting from $2,995. The second greatest value Northeast Portland apartment is the 3 Bedroom 1 Bath Model at Villas de Mariposas starting at $1,257 with a $1.08 price per square foot in the Cully neighborhood. Here is today’s list of the best values for Northeast Portland apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
838 North Vancouver AvenueCorner3BR,3.5BA$1.97
Villas de Mariposas3 Bedroom 1 Bath3BR,1.5BA$1.08
Bailey Commons1BR/1.0BA1BR,1BA$1.97
Hank Reardon PlazaTownhouse Loft1BR,1BA$1.63
Kiln1x11BR,1BA$1.83
Hollywood Towne House Apartments1bd1ba5fl 7441BR,1BA$2.00
MF 14 - N Humboldt1BR/1.0BA1BR,1BA$1.98
Margaret Carter PlazaOne Bathroom One Bedroom HUD Unit1BR,1BA$1.39
Maya Angelou1 Bedroom 1 Bath1BR,1BA$1.68
Kimberly Court1BR/1.0BA1BR,1BA$1.95

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Pet Friendly Lifestyle
Northeast Portland, Portland, OR

Ranked #18

Among neighborhoods in Portland, OR for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Northeast Portland, Portland, OR

School data provided by Great Schools

Best Local Schools in
Northeast Portland, Portland, OR

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities and towns across the United States and customized analysis for North Central Portland, OR. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including filtering automatically for the best outdoor access, luxury housing options, kid and pet-friendly communities, availability of transit options, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Northeast Portland Apartments

What is a cheap apartment in Northeast Portland?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Northeast Portland is under $943.

What is the price of a cheap apartment in Northeast Portland?

The cheapest apartment in Northeast Portland is Park Terrace which is listed at $729, while the average apartment in Northeast Portland costs $4,250.

What types of apartments are the cheapest in Northeast 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 1,182 regular apartments in Northeast 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 Northeast Portland?

Cheap apartments in Northeast Portland have an average cost of $247 which is $4,003 cheaper than the average rent for all rentals in Northeast 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.

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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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.

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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.