Cheapest Neighborhoods in Portland, OR
Some of the cheapest neighborhoods in Portland are Glenfair, Centennial, and Gateway. These neighborhoods offer some of the lowest rent prices in Portland, making them ideal for renters on a budget. As of September 23, 2026, the average rent in Portland is $1,531, which is 1% 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.
Glenfair
Average Rent
$1,174/Month
Year-Over-Year Rent Change
0.9%
Units Available
21 Rentals
Glenfair is an affordable neighborhood in Portland with an average rent price of $1,174. Compare this to the city average of $1,531. In the past year, rent prices have increased by 0.9%. Glenfair provides easy access to Powell Butte Nature Park, Glisan Shopping Center, and E 148Th.
Centennial
Average Rent
$1,207/Month
Year-Over-Year Rent Change
1.4%
Units Available
40 Rentals
If you’re looking for a great, affordable neighborhood in Portland, Centennial might be the perfect place! It has an average rent price of $1,207, while the city’s average stands at $1,531. In the last year, prices have decreased by 1.4%. Centennial is near E 181St, Midland Park, and Mount Hood C.C., Bruning Ctr..
Gateway
Average Rent
$1,207/Month
Year-Over-Year Rent Change
1.6%
Units Available
144 Rentals
Gateway is a top choice for budget-conscious renters for a variety of reasons. The average rent in Gateway is $1,207 while the city average is $1,531. This is a 1.6% difference from last year. Residents enjoy convenient access to E 102Nd, Mount Hood C.C., Bruning Ctr., and Se Main Street.
Montavilla
Average Rent
$1,212/Month
Year-Over-Year Rent Change
1.4%
Units Available
25 Rentals
When you’re looking for a great Portland neighborhood on a budget, check out Montavilla. The average rent is $1,212, compared to the city average of $1,531. Rent prices have decreased by 1.4%. Montavilla is convenient to Portland Community College, Ne 60Th, and 205 Place.
Mill Park
Average Rent
$1,215/Month
Year-Over-Year Rent Change
0.8%
Units Available
10 Rentals
Mill Park is an affordable neighborhood in Portland with an average rent price of $1,215. Compare this to the city average of $1,531. In the past year, rent prices have increased by 0.8%. Mill Park provides easy access to Mount Hood C.C., Bruning Ctr., Portland International, and Market 122 Shopping Center.
Cully
Average Rent
$1,221/Month
Year-Over-Year Rent Change
1.4%
Units Available
38 Rentals
If you’re looking for a great, affordable neighborhood in Portland, Cully might be the perfect place! It has an average rent price of $1,221, while the city’s average stands at $1,531. In the last year, prices have increased by 1.4%. Cully is near Mount Hood C.C., Maywood Park, Portland International Airport, and Johnson Lake Property.
Madison South
Average Rent
$1,235/Month
Year-Over-Year Rent Change
3.1%
Units Available
12 Rentals
Madison South is a top choice for budget-conscious renters for a variety of reasons. The average rent in Madison South is $1,235 while the city average is $1,531. This is a -3.1% difference from last year. Residents enjoy convenient access to Joseph Wood Hill Park, Rosemont Bluff Natural Area, and Johnson Lake Property.
North Tabor
Average Rent
$1,245/Month
Year-Over-Year Rent Change
0.7%
Units Available
53 Rentals
When you’re looking for a great Portland neighborhood on a budget, check out North Tabor. The average rent is $1,245, compared to the city average of $1,531. Rent prices have increased by 0.7%. North Tabor is convenient to Ne 60Th, Rose City Park, and Hollywood/Ne 42Nd Ave Max Station.
Parkrose Heights
Average Rent
$1,256/Month
Year-Over-Year Rent Change
0.7%
Units Available
27 Rentals
Parkrose Heights is an affordable neighborhood in Portland with an average rent price of $1,256. Compare this to the city average of $1,531. In the past year, rent prices have increased by 0.7%. Parkrose Heights provides easy access to 111th Square, Ventura Park, and Gateway/Ne 99Th Transit Center.
Argay
Average Rent
$1,259/Month
Year-Over-Year Rent Change
1.5%
Units Available
29 Rentals
If you’re looking for a great, affordable neighborhood in Portland, Argay might be the perfect place! It has an average rent price of $1,259, while the city’s average stands at $1,531. In the last year, prices have decreased by 1.5%. Argay is near Mount Hood C.C., Maywood Park, Portland International, and Mount Hood C.C., Bruning Ctr..
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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.