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Cheap Apartments for Rent in the South Waterfront Neighborhood of Portland, OR from $1,000 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in the South Waterfront area of Portland.
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Rent Specials
from $1,177Studio to 4 Bedroom Apartments Available Now
The Douglas
1811 SW River DrPortland, OR 97201
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Rent Specials
from $1,205Studio to 2 Bedroom Apartments Available Now
The Dylan
3883 S Moody AvePortland, OR 97239
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Rent Specials
from $1,285Studio to 2 Bedroom Apartments Available Now
The Emery
3155 S Moody AvePortland, OR 97239
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Rent Specials
from $1,330Studio to 2 Bedroom Apartments Available Now
The Matisse
677 S Lowell StPortland, OR 97239
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Rent Specials
from $1,353Studio to 2 Bedroom Apartments Available Now
Griffis South Waterfront
650 S Gaines StPortland, OR 97239
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Rent Specials
from $1,515Studio to 2 Bedroom Apartments Available Now
The Olivia
3850 S Bond AvePortland, OR 97239
3719 S Hood Ave
PortlandOR97239
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Rent Specials
from $1,5511 to 3 Bedroom Apartments Available Now
Osprey
3750 S River PkyPortland, OR 97239
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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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from $1,700Studio to 2 Bedroom Apartments Available Now
The Ardea Apartments
3720 SW Bond AvePortland, OR 97239
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Rent Specials
from $1,8001 to 3 Bedroom Apartments Available Now
Willamette Tower
3820 S River PkyPortland, OR 97267
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Showing Results 1-17, Page 1 of 1
South Waterfront, Portland, OR Local Guide
How much does it cost to rent an apartment in South Waterfront?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| South Waterfront Studio Apartments | $1,605 | $1,156 | $5,169 |
| South Waterfront 1 Bedroom Apartments | $1,988 | $1,218 | $6,118 |
| South Waterfront 2 Bedroom Apartments | $3,937 | $1,458 | $9,214 |
| South Waterfront 3 Bedroom Apartments | $4,397 | $1,678 | $7,270 |
Browse Apartments in this Neighborhood
There are currently 17 rentals with your search options within a 2 mile radius of the South Waterfront Neighborhood of Portland, OR.
See all Apartments in PortlandExplore Portland
South Waterfront, Portland, OR Local Guide
- Nearby Portland neighborhoods
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Cheapest Available South Waterfront Apartments for Rent
The cheapest available apartment rental in the South Waterfront area of Portland, OR is a Studio unit found at Waterleaf priced from $1,156. The Emery has the second lowest priced unit, which is a Studio apartment currently listed from $1,285. Here are the most affordable South Waterfront apartments for rent in Portland, OR:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Waterleaf | Studio-60% | Studio,1BA | $1,156 |
| The Emery | Studio B | Studio,1BA | $1,285 |
| Corbett Heights | Studio A4 | Studio,1BA | $1,288 |
| The Matisse | 01F1 | Studio,1BA | $1,330 |
| The Dylan | P-S1.1 | Studio,1BA | $1,351 |
Best Value Apartments for Rent in South Waterfront, OR
As of March 24, 2025 the best value apartment in the South Waterfront area is the $2.30 price per square foot 3x1 Pettygrove Model at The Douglas in the in the Southwest Portland neighborhood starting from $3,150. The second greatest value South Waterfront apartment is the 22F1 Model at The Matisse starting at $2,540 with a $2.34 price per square foot in the Southwest Portland neighborhood. Here is today’s list of the best values for South Waterfront apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Douglas | 3x1 Pettygrove | 3BR,1BA | $2.30 |
| The Matisse | 22F1 | 2BR,2BA | $2.34 |
| Ella | A4.1-4.2 | 1BR,1BA | $2.65 |
| The Olivia | A5.1 | 1BR,1BA | $3.00 |
| Griffis South Waterfront | Fern Platinum | 1BR,1BA | $3.09 |
| Modern New Construction | 1BR/1.0BA | 1BR,1BA | $2.13 |
| Osprey | A4 | 1BR,1BA | $2.96 |
| Waterleaf | Studio-60% | Studio ,1BA | $2.02 |
| Corbett Heights | Studio A5 | Studio ,1BA | $2.60 |
| The Dylan | P-S1.1 | Studio ,1BA | $2.81 |
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Pet Friendly LifestyleSouth Waterfront, Portland, OR
Ranked #101
Among neighborhoods in Portland, OR for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Getting Around the South Waterfront Neighborhood in Portland, OR
Walk Score®
83 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
96 / 100
Biker's Paradise
Daily errands can be accomplished on a bike
Transit Score®
75 / 100
Excellent Transit
Transit is convenient for most trips
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 South Waterfront Apartments
What is a cheap apartment in South Waterfront?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Waterfront is under $1,634.
What is the price of a cheap apartment in South Waterfront?
The cheapest apartment in South Waterfront is Waterleaf which is listed at $1,218, while the average apartment in South Waterfront costs $4,045.
What types of apartments are the cheapest in South Waterfront?
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 56 regular apartments in South Waterfront 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 South Waterfront?
Cheap apartments in South Waterfront have an average cost of $419 which is $3,626 cheaper than the average rent for all rentals in South Waterfront.
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.
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.
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.
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.
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.