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 15, 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

East Portland is a top choice for budget-conscious renters for a variety of reasons. The average rent in East Portland is $1,396 while the city average is $1,505. This is a 1.1% difference from last year. Residents enjoy convenient access to Mount Hood C.C., Bruning Ctr., Ed Benedict Park, and E 148Th. The neighborhood is considered 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

When you’re looking for a great Portland neighborhood on a budget, check out Waterfront. The average rent is $1,888, compared to the city average of $1,505. Rent prices have decreased by 3.3%. Waterfront is convenient to Pacific Northwest Coll. Of Art, Oregon Maritime Center and Museum, and Sw 5Th & Market. The community is walkable 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.

Ready to make your move to Portland? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!

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.