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Apartments for Rent in Portland, OR under $500

Apartments for Rent in Portland, OR under $500. 10 Rentals Available
10 Rentals Available
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  • Rent specials 9 units available
    Studio $480+
    Base rent Income restricted
    Verified Listing

    2065 SW River Parkway, Portland, OR 97201
    Apply online • Pet friendly • Parking
  • 1 bd $482+
    Base rent Income restricted
    Verified Listing

    610 NE 99Th Ave, Portland, OR 97220
    Fitness center • In unit laundry • Dishwasher
2-0-city
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Frequently asked questions

What are the best apartments in Portland, OR?

The best apartments in Portland, OR are: Quinten Tower, Clay & Tiffany, The Parker, East Wind and Alder Crossing Apartments.

What type of rental buildings are in Portland, OR?

In Portland, 48% of the residents are renting compared to 52% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 29% of Portland's rentals, 51% are small-scale complexes with under 50 units, and 19% are single-family rentals.

Apartments in Portland, OR under $500

Balancing snug and cheap is no joke when it comes to renting a place to live. “Are there any apartments near me under $500?” is a great question to start from. Knowing your budget means you’re one step ahead and on the right track. We’ve taken care of the rest and found 10 apartments for rent in Portland, OR on which you’ll spend less than $500. A small, cheap rental means you’ll have to budget your living space as well. The great news is that keeping it simple pays off in more than one way. The cost of utilities is likely to run low, and you get the added benefit of not having to spend too much time cleaning up the whole place. Smaller apartments are more likely to be closer to the city center, so there are potential cuts to your transportation costs too. And here’s one more very special secret to add to your book-of-perks: you’re less likely to overshop when you know your space is limited.

Rentals near you under $500

Our goal is to help you find cheap apartments that live up to your dreams without crushing your budget. It may be a long shot to go looking for 3 bedroom apartments or even 2 bedroom for less than $500. The average rental size in Portland, OR is 754 Sqft, but the $500 limit will probably narrow your search to places with a smaller square footage. Go through our listings and be on the look-out for a hassle-free studio or a 1 bedroom apartment. We trust you’ll turn it into a cozy home which is also budget-friendly to the core.