Cheap Apartments for Rent in the Reed Neighborhood of Portland, OR from $500 (108 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Reed 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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Cedar Flats
Studio to 2 Bedroom Apartments

Cedar Flats

3727-3779 SE 40th AvePortland, OR 97202
  • Utilities Included
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Reed, Portland, OR Local Guide

Cheapest Available Reed Apartments for Rent

 

The cheapest available apartment rental in the Reed area of Portland, OR is a 1 Bed unit found at 4811 SE Haig St priced from $795. Enclave 54 has the second lowest priced unit, which is a Studio apartment currently listed from $975. Here are the most affordable Reed apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
4811 SE Haig St4811 SE Haig St1BR,1BA$795
Enclave 54Studio 1Studio,1BA$975
Dean RiverStudioStudio,1BA$1,049
Brooklyn FlatsStudio / 1 bathStudio,1BA$1,100
Brookland ApartmentsStudio, 1 BathroomStudio,1BA$1,149
54 WoodstockStudio, 1 BathroomStudio,1BA$1,150
Tabor CommonsStudio-AStudio,1BA$1,150

Best Value Apartments for Rent in Reed, OR

As of March 22, 2025 the best value apartment in the Reed 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 Reed apartment is the 22F1 Model at The Matisse starting at $2,465 with a $2.27 price per square foot in the Southwest Portland neighborhood. Here is today’s list of the best values for Reed apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Z_Caritas Sacred Heart VillaStudioStudio ,1BA$0.96
The Matisse22F12BR,2BA$2.27
Garden Park Apartments2 Bedroom 1 Bath2BR,1BA$2.09
The Tristan2BR 2 BA2BR,2BA$1.98
Creston Villa2 Bedroom 1 Bath2BR,1BA$1.66
Ashley Court Apartments2 Bedroom / 1.0 Bath2BR,1BA$1.76
Shady Glen ApartmentsTwo Bedroom 1 Bath2BR,1BA$1.64
The Enclave2 Bedroom2BR,1BA$1.92
Waverleigh Apartments2 Bedroom Up2BR,1BA$2.18
Tristin Square Apartments1 Bedroom, 1 Bath lg1BR,1BA$2.00

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Pet Friendly Lifestyle
Reed, Portland, OR

Ranked #25

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
Reed, Portland, OR

School data provided by Great Schools

Best Local Schools in
Reed, Portland, OR

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving.com is proud to bring you Lifestyle Ratings of rentals in areas across the United States, including Portland. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and outdoor amenities like tennis courts, family-friendly amenities, raising pets, transit options, and other valuable search options. These search options are in the site filters at the top of this page.

Getting Around the Reed Neighborhood in Portland, OR

Walk Score®

70 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

91 / 100

Biker's Paradise

Daily errands can be accomplished on a bike

Transit Score®

49 / 100

Some Transit

A few 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 Reed Apartments

What is the Cheapest Studio apartment in Reed?

Currently the most affordable Cheap Studio Apartment in Reed is at Enclave 54 listed at $975.

How much is rent for a Cheap One Bedroom Reed Apartment?

The lowest price for a Cheap One Bedroom Reed Apartment is $795 at 4811 SE Haig St.

What is the lowest price for a Cheap Two Bedroom Reed Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Reed is starting from $1,395 at Shady Glen Apartments.

What is the most affordable Reed Three Bedroom Apartment?

The best deal on a cheap Reed Three Bedroom Apartment rental is at Steeple Townhomes and starts from $3,295.

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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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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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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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.