Welcome to the City of Roses, Portland, Oregon! Known for its stunning natural beauty, modern art scene, and commitment to sustainability, Portland is a desirable destination for many. Enticing as it sounds, it’s no secret that big-city living can come with an even bigger price tag. The culture, social life, and available entertainment often come with a cost: your housing price.
While finding an apartment close to all the excitement can be expensive, it is possible to work, play, and rent at a reasonable price. We’ve compiled a list to help you experience the best of Portland without breaking the bank. The five cheapest neighborhoods in Portland in 2023 are:
Cedar Hills-Cedar Mill
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Average 1-bedroom rent in Portland: $1,454/month
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Average 1-bedroom rent in Cedar Hills-Cedar Mill: $1,425/month
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Median Home Value in Cedar Hills-Cedar Mill: $670,000
Cedar Hills-Cedar Mill is a quiet suburban neighborhood on the west side of Portland. Known for its family-friendly environment and excellent schools, this community offers an escape from city life's hustle and bustle while still conveniently located near US-26 for easy commutes.
Things to do in Cedar Hills-Cedar Mill
In Cedar Hills-Cedar Mill, you'll find a wealth of outdoor activities right at your doorstep. The local parks are perfect for hiking, picnicking, and bird watching, while the Sunset Swim Center is a popular spot for families during the summer months. When it comes to shopping and dining, the Cedar Hills Crossing mall has you covered.
North Portland
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Average 1-bedroom rent in Portland: $1,454/month
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Average 1-bedroom rent in North Portland: $1,392/month
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Median Home Value in North Portland: $480,000
Next up is North Portland, a diverse neighborhood that's rich in history and culture. With its mix of residential areas and commercial districts, North Portland offers residents the best of both worlds. Commuting is easy, too, thanks to the neighborhood's proximity to I-5.
Things to do in North Portland
North Portland is a hub of creativity and community spirit. From the artsy Mississippi Avenue - where locals explore vinyl shops, delicious eateries, and quirky shops - to the quaint, historic St. Johns neighborhood, there's always something happening here. Spend your weekends exploring local farmers' markets, catching a movie at the historic St. Johns Twin Cinema, or enjoying live music at one of the many local venues.
Goose Hollow
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Average 1-bedroom rent in Portland: $1,454/month
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Average 1-bedroom rent in Goose Hollow: $1,410/month
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Median Home Value in Goose Hollow: $365,000
Goose Hollow is a centrally located neighborhood just northwest of Downtown Portland that's steeped in history and charm. This community is known for its walkability, making it easy for residents to explore the local shops, restaurants, and parks on foot. Plus, with easy access to the MAX Light Rail and several bus lines, getting around the city is convenient for residents.
Things to do in Goose Hollow
Goose Hollow offers a unique blend of urban amenities and natural beauty. The area is home to Providence Park, where you can catch a Portland Timbers soccer game, and Washington Park, which boasts the Oregon Zoo and the Portland Japanese Garden. Make sure to take advantage of the neighborhood's food scene, which features everything from cozy coffee shops to gourmet restaurants.
Park Blocks
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Average 1-bedroom rent in Portland: $1,454/month
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Average 1-bedroom rent in Park Blocks: $1,635/month
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Median Home Value in Park Blocks: $500,000
Park Blocks is a picturesque neighborhood located in downtown Portland. Known for its leafy streets and historic buildings, this area offers a peaceful retreat from the city's hustle and bustle. And with the Portland Streetcar just steps away, residents can easily access the rest of the city.
Things to do in Park Blocks
The Park Blocks are renowned for their cultural attractions. From the Portland Art Museum to the Oregon Historical Society Museum, there's always something to learn and explore here. Plus, with a variety of restaurants, cafes, and shops in the area, you'll never run out of new places to try.
Southeast Portland
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Average 1-bedroom rent in Portland: $1,454/month
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Average 1-bedroom rent in Southeast Portland: $1,397/month
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Median Home Value in Southeast Portland: $530,000
Southeast Portland is a diverse neighborhood known for its eclectic mix of shops, eateries, and entertainment venues. It's conveniently located near I-205, making it easy for residents to commute to work or explore the city.
Things to do in Southeast Portland
In Southeast Portland, there's no shortage of things to do. The area is home to several parks, including the Eastbank Esplanade and the Crystal Springs Rhododendron Garden, as well as a variety of local businesses. Whether you're catching a movie at the historic Bagdad Theater and Pub, shopping at Hawthorne Boulevard's unique boutiques, or dining at one of the many local restaurants, Southeast Portland has something for everyone.
Make the Most of Your Move with Apartments.com
Whether you're planning a short-term stay or looking to settle down, Apartments.com can help you find your perfect home in Portland. Use our customized search engine to find housing options that fit your budget and preferences. Start your journey with us today and discover the endless possibilities that await you in Portland. Pay less, live more, and rent on.
*Apartment rent data provided by CoStar Group’s November 2023 reports.
