Most Affordable Neighborhoods in Portland, OR
Some of the cheapest neighborhoods in Portland are East Portland, Raleigh Hills, and North Portland. These neighborhoods offer some of the lowest rent prices in Portland, making them ideal for renters on a budget. As of April 17, 2025, the average rent in Portland is $1,514, which is 1% 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
$1,423/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
52/100
Units Available
217 Rentals
East Portland is an affordable neighborhood in Portland with an average rent price of $1,423. Compare this to the city average of $1,514. In the past year, rent prices have increased by 0.8%. East Portland provides easy access to Midway Plaza Shopping Center, Division Center, and Midland Park. It’s a somewhat walkable neighborhood with a WalkScore® of 67.
Raleigh Hills
Average Rent
$1,693/Month
Year-Over-Year Rent Change
0.1%
TransitScore® Rating
12/100
Units Available
132 Rentals
Raleigh Hills, nestled in the southwest hills of Portland, offers budget-conscious renters a peaceful retreat with easy access to downtown. This neighborhood is known for its beautiful surroundings and top-rated schools, making it an ideal spot for those seeking a tranquil yet convenient living experience. With nearby parks and a variety of local shops, residents enjoy a balanced lifestyle without straying far from home.
North Portland
Average Rent
$1,704/Month
Year-Over-Year Rent Change
0.4%
TransitScore® Rating
43/100
Units Available
348 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.
Park Blocks
Average Rent
$1,748/Month
Year-Over-Year Rent Change
2.2%
TransitScore® Rating
93/100
Units Available
218 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.
Boise
Average Rent
$1,795/Month
Year-Over-Year Rent Change
3.6%
TransitScore® Rating
54/100
Units Available
147 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.
Cedar Hills-Cedar Mill
Average Rent
$1,833/Month
Year-Over-Year Rent Change
2.3%
TransitScore® Rating
12/100
Units Available
173 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
$1,842/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
64/100
Units Available
161 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.
Southwest Portland
Average Rent
$1,867/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
52/100
Units Available
509 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.
Southeast Portland
Average Rent
$1,904/Month
Year-Over-Year Rent Change
0.7%
TransitScore® Rating
58/100
Units Available
1,179 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.
Waterfront
Average Rent
$1,912/Month
Year-Over-Year Rent Change
4%
TransitScore® Rating
92/100
Units Available
175 Rentals
If you’re looking for a great, affordable neighborhood in Portland, Waterfront might be the perfect place! It has an average rent price of $1,912, while the city’s average stands at $1,514. In the last year, prices have decreased by 4%. Waterfront is near Lan Su Chinese Garden, Morrison/Sw 3Rd, and Sw 5Th & Market.
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.