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Apartments for Rent in Portland, OR under $500
48 Rentals Available

  • 1 day ago

    6006 SE 53Rd Ave, Portland, OR 97206
    Studio $1,270
    1 BED Ask for Pricing
    2+ BEDS Ask for Pricing
  • Today

    2065 S River Parkway, Portland, OR 97201
    Studio $480+
  • Today

    2045 S River Parkway, Portland, OR 97201
    1 BED Ask for Pricing
  • Today

    8550 N Argyle Way, Portland, OR 97217
    Studio $335+
  • Today

    1025 SW 11Th Ave, Portland, OR 97205
    Studio Ask for Pricing
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  • Today

    3531 NE 15Th Avenue, Portland, OR 97212
    Studio Ask for Pricing
  • 1 day ago

    7661 SW Capital HWY, Portland, OR 97219
    Studio Ask for Pricing
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
  • 1 day ago

    Albina Studios, Portland, OR 97217
    Studio Ask for Pricing
  • Today

    22744 SE Stark Street, Gresham, OR 97030
    Studio Ask for Pricing
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
  • Today

    930 SW Whitaker St, Portland, OR 97239
    2 BEDS Ask for Pricing
    3 BEDS Ask for Pricing
  • Today

    9863 SW 35Th Drive, Portland, OR 97219
    3 BEDS Ask for Pricing
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  • Today

    933 NE Hood Ave, Gresham, OR 97030
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
    3 BEDS Ask for Pricing
  • Today

    12025 SE Pine Street, Portland, OR 97216
    Studio Ask for Pricing
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
  • Today

    2295 SW Sturges Lane, Troutdale, OR 97060
    Income Restricted
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
  • Today

    2405 SE Umatilla, Portland, OR 97202
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
  • Today

    13320 Southeast Powell Blvd, Portland, OR 97236
    1 BED Ask for Pricing
  • Today

    824 NW 20Th Avenue, Portland, OR 97209
    3 BEDS Ask for Pricing
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  • Today

    9305 SE Harold Street, Portland, OR 97266
    Income Restricted
    2 BEDS Ask for Pricing
  • Today

    3640 SE 28TH Ave., Portland, OR 97202
    Income Restricted
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
    3+ BEDS Ask for Pricing
  • Today

    555 NE 100Th Avenue, Portland, OR 97220
    Income Restricted
    Studio Ask for Pricing
    1 BED Ask for Pricing
  • Today

    8940 SE Reedway St., Portland, OR 97266
    Income Restricted
    3 BEDS Ask for Pricing
    4 BEDS Ask for Pricing
  • Today

    6724 SE 72Nd Ave, Portland, OR 97206
    Income Restricted
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
    3 BEDS Ask for Pricing
  • Today

    2636 SE Powell Blvd., Portland, OR 97202
    Income Restricted
    Studio Ask for Pricing
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
  • Today

    555 NE 100Th Avenue, Portland, OR 97220
    Income Restricted
    Studio Ask for Pricing
    1 BED Ask for Pricing
  • Today

    10550 NE Halsey, Portland, OR 97220
    Income Restricted
    Studio Ask for Pricing
    1 BED Ask for Pricing
    2 BEDS Ask for Pricing
31-0-city

Popular searches Average rent Renters guide Demographics

Getting around in Portland, OR

5 /100
Car-Dependent
41 /100
Somewhat Bikeable
Walk Score®: 5, Bike Score®: 41

Frequently asked questions

When were prices and availability in Portland, OR last updated?

Prices and availability in Portland, OR were last updated on 12 Jul 2024.

What are the best apartments in Portland, OR?

The best apartments in Portland, OR are: Quinten Tower, The Union, Cook Street, The Parker and Francis Park.

What type of rental buildings are in Portland, OR?

In Portland 47% of the housing is rented out compared to 53% of homes are owned, according to the most recent Census Bureau estimates. 25% of Portland’s apartments are found in large buildings of 50 units or more, 53% are located in smaller apartment complexes with less than 50 units, and 21% are single-family rentals.

Renting apartments in Portland, OR under $500

Searching for apartments for rent in Portland, OR under $500 is not an easy task, but luckily you have come to the right place. Whether you are a student on a budget, a young professional on the move, or simply a frugal person, RentCafe can help you find what you are looking for. Just make sure you know what you consider non-negotiable and what you can compromise on. Your new home is just a few clicks away. In Portland, OR, where the average rent is $671 per month, there are 48 units available for less than $500. Click on any of these units to see pictures, floor plans, amenities and more. After you have picked your favorite, you can contact the property to check availability. Considering that you are trying to spend as little as possible, looking at 1 bedroom apartments and studio apartments might be a good idea.

We’ll help you find the cheapest rental near you

Finding a nice cheap apartment is by no means impossible. You just have to be patient. Your “apartments near me under $500” search can bear fruit sooner than you think if you look carefully and check our site often. You never know when discount deals and special offers might pop up. Keep in mind that you are not the only one looking for an affordable apartment in Portland, OR. Choose “Save Search” to receive the latest apartments available directly to your inbox. This way, you will be able to stay one step ahead of the competition. With the cheapest apartments in Portland, OR going for $335 per month, there are great deals waiting to be discovered. Feeling lucky? Expand your search to 2 bedroom apartments and 3 bedroom apartments as well for more space.

Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!