Best Affordable Neighborhoods in Milwaukie, OR

Some of the cheapest neighborhoods in Milwaukie are North Clackamas, Milwaukie Heights, and Island Station. These neighborhoods offer some of the lowest rent prices in Milwaukie, making them ideal for renters on a budget. As of March 25, 2026, the average rent in Milwaukie is $1,486, which is 1.9% higher 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.

North Clackamas

Average Rent

$1,301/Month

Year-Over-Year Rent Change

1%

Units Available

14 Rentals

When you’re looking for a great Milwaukie neighborhood on a budget, check out North Clackamas. The average rent is $1,301, compared to the city average of $1,486. Rent prices have increased by 1%. North Clackamas is convenient to Portland International, Clackamas Town Center Transit Center, and North Clackamas Park.

Milwaukie Heights

Average Rent

$1,438/Month

Year-Over-Year Rent Change

3.1%

Units Available

50 Rentals

Milwaukie Heights is an affordable neighborhood in Milwaukie with an average rent price of $1,438. Compare this to the city average of $1,486. In the past year, rent prices have increased by 3.1%. Milwaukie Heights provides easy access to Elk Rock Gardens of the Bishop's Close, Mary S. Young State Recreation Area, and Plaza 99.

Island Station

Average Rent

$1,526/Month

Year-Over-Year Rent Change

6.3%

Units Available

15 Rentals

If you’re looking for a great, affordable neighborhood in Milwaukie, Island Station might be the perfect place! It has an average rent price of $1,526, while the city’s average stands at $1,486. In the last year, prices have decreased by 6.3%. Island Station is near Johnson Creek Park, Milwaukie/Main St Max Station, and Se Park Ave Max Station.

Lake Road

Average Rent

$1,568/Month

Year-Over-Year Rent Change

1%

Units Available

36 Rentals

Lake Road is a top choice for budget-conscious renters for a variety of reasons. The average rent in Lake Road is $1,568 while the city average is $1,486. This is a 1% difference from last year. Residents enjoy convenient access to Milwaukie Marketplace, Se Fuller Road, and Milwaukie/Main St Max Station.

Historic Milwaukie

Average Rent

$1,619/Month

Year-Over-Year Rent Change

2.4%

Units Available

25 Rentals

When you’re looking for a great Milwaukie neighborhood on a budget, check out Historic Milwaukie. The average rent is $1,619, compared to the city average of $1,486. Rent prices have increased by 2.4%. Historic Milwaukie is convenient to Elk Rock Gardens of the Bishop's Close, Johnson Creek Park, and Se 17Th Ave & Holgate Blvd Max Station.

Hector Campbell

Average Rent

$1,691/Month

Units Available

18 Rentals

Hector Campbell is an affordable neighborhood in Milwaukie with an average rent price of $1,691. Compare this to the city average of $1,486. Hector Campbell provides easy access to Se Tacoma/Johnson Creek Max Station, North Clackamas Park, and Se Fuller Road.

Ardenwald

Average Rent

$1,712/Month

Year-Over-Year Rent Change

0.2%

Units Available

15 Rentals

If you’re looking for a great, affordable neighborhood in Milwaukie, Ardenwald might be the perfect place! It has an average rent price of $1,712, while the city’s average stands at $1,486. In the last year, prices have decreased by 0.2%. Ardenwald is near Se Park Ave Max Station, Clackamas C.C., Harmony Campus, and Elk Rock Island.

Waverley Greens Apartments

Average Rent

$1,723/Month

Units Available

14 Rentals

Waverley Greens Apartments is a top choice for budget-conscious renters for a variety of reasons. The average rent in Waverley Greens Apartments is $1,723 while the city average is $1,486. Residents enjoy convenient access to Sellwood Park, Se 17Th Ave & Holgate Blvd Max Station, and Se Tacoma/Johnson Creek Max Station.

Mcloughlin Industrial

Average Rent

$1,756/Month

Units Available

13 Rentals

When you’re looking for a great Milwaukie neighborhood on a budget, check out Mcloughlin Industrial. The average rent is $1,756, compared to the city average of $1,486. Mcloughlin Industrial is convenient to Clackamas C.C., Harmony Campus, Milwaukie/Main St Max Station, and Se Bybee Blvd Max Station.

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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.