Most Affordable Neighborhoods in Portland, OR
Some of the cheapest neighborhoods in Portland are East Portland, Park Blocks, and North Portland. These neighborhoods offer some of the lowest rent prices in Portland, making them ideal for renters on a budget. As of March 17, 2025, the average rent in Portland is $1,505, which is 0.6% lower than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
East Portland
Average Rent
$1,396/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
52/100
Units Available
223 Rentals
When you’re looking for a great Portland neighborhood on a budget, check out East Portland. The average rent is $1,396, compared to the city average of $1,505. Rent prices have increased by 1.1%. East Portland is convenient to Midland Park, Portland International, and Mount Hood C.C., Maywood Park. The community is somewhat walkable with a WalkScore® of 67.
Park Blocks
Average Rent
$1,704/Month
Year-Over-Year Rent Change
2.1%
TransitScore® Rating
93/100
Units Available
227 Rentals
The Park Blocks area offers a serene setting with its extensive green spaces and tree-lined streets. Proximity to cultural institutions and public transportation adds to its desirability. Renters appreciate the balance of tranquility and city connectivity.
North Portland
Average Rent
$1,731/Month
Year-Over-Year Rent Change
0.2%
TransitScore® Rating
43/100
Units Available
366 Rentals
North Portland features an array of budget-friendly housing options within its eclectic neighborhoods. Numerous bike paths and parks cater to outdoor enthusiasts. The community’s strong sense of identity and vibrant local businesses enrich daily living.
Cedar Hills-Cedar Mill
Average Rent
$1,820/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
12/100
Units Available
163 Rentals
Cedar Hills-Cedar Mill presents a suburban feel while being just minutes away from Downtown Portland. The neighborhood is home to expansive shopping centers and recreational facilities. Affordable rental properties make it an attractive choice for budget-conscious renters.
South Portland
Average Rent
$1,821/Month
Year-Over-Year Rent Change
1.7%
TransitScore® Rating
64/100
Units Available
156 Rentals
South Portland encompasses a mix of newer developments and established residences. Its waterfront location provides beautiful views and ample recreation opportunities. Access to major highways ensures efficient travel throughout the city.
Goose Hollow
Average Rent
$1,825/Month
Year-Over-Year Rent Change
1.9%
TransitScore® Rating
84/100
Units Available
138 Rentals
Goose Hollow is known for its proximity to downtown amenities and scenic views of the West Hills. With several MAX light rail stations and proximity to major highways, getting around Portland is convenient. This historic neighborhood combines affordability with accessibility.
Southwest Portland
Average Rent
$1,828/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
52/100
Units Available
499 Rentals
Southwest Portland is characterized by its rolling hills and wooded neighborhoods, providing a peaceful yet connected lifestyle. Affordable rental homes are nestled among natural beauty and convenient amenities with Mount Tabor in the background. Proximity to major highways and state parks makes it perfect for outdoor adventurers who don't want to sacrifice convenience.
Boise
Average Rent
$1,829/Month
Year-Over-Year Rent Change
3.7%
TransitScore® Rating
54/100
Units Available
162 Rentals
Boise, situated in North and Northeast Portland, is an appealing spot for renters looking for a lively neighborhood. The area is renowned for its bustling streets like Mississippi Avenue, where unique shops, diverse cuisine, and entertainment venues abound. With quick access to serene parks and convenient public transit, Boise offers both excitement and practicality for everyday living.
Waterfront
Average Rent
$1,888/Month
Year-Over-Year Rent Change
3.3%
TransitScore® Rating
92/100
Units Available
148 Rentals
Waterfront is an affordable neighborhood in Portland with an average rent price of $1,888. Compare this to the city average of $1,505. In the past year, rent prices have decreased by 3.3%. Waterfront provides easy access to Yamhill District, Sw 5Th & Market, and Oregon Maritime Center and Museum. It’s a walkable neighborhood with a WalkScore® of 96.
Southeast Portland
Average Rent
$1,893/Month
Year-Over-Year Rent Change
0.4%
TransitScore® Rating
58/100
Units Available
1,244 Rentals
Southeast Portland is celebrated for its diverse community and artistic flair. Local markets and eateries offer affordable and unique experiences. It's a neighborhood where budget-friendly living meets creative expression.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.