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Rental market trends in Portland, ME

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Average Rent in Portland, ME

Average Rent in Portland, ME

Avg. RentAnnual Change
Studio - $1,995-
1 Bed - $2,637+43%
2 Beds - $5,480+181%
Last updated 5/20/2024

Average Apartment Cost in Portland, ME

The average rent for apartments in Portland, ME, is between $1,995 and $5,480 in 2024. For a studio apartment in Portland, ME, the average rent is $1,995. When it comes to 1-bedroom apartments, the average rent in Portland, ME, is $2,637. For a 2-bedroom apartment, the average rent is $5,480.

Apartment Rent Ranges in Portland, ME

Apartment PricesProportion
0%
0%
2%
24%
75%

Neighborhood Apartment Rent Trends in Portland, ME

Neighborhood1 Bed Avg RentAnnual Change
West Bayside$2,650--
Downtown$2,450+32%
Arts District$2,450+32%
Parkside$1,750--
Rosemont$1,500+3%
Neighborhood2 Beds Avg RentAnnual Change
West Bayside$5,480--
Deering Center$3,800--
Oakdale$3,450--
West End$3,200--
East End$2,550+31%
Parkside$1,900--
Riverton$1,725--

How Other Cities Compare to Portland, ME

CityStudio Avg RentAnnual Change
Scarborough$3,736-10%
Portsmouth$2,000--
South Portland$1,175+9%
Rochester$1,075+9%
Somersworth$1,0250%
Dover$704-44%
City1 Bed Avg RentAnnual Change
Scarborough$2,500--
Portsmouth$2,450+26%
Dover$2,092+13%
Berwick$1,937+8%
Damariscotta$1,900--
Somersworth$1,8050%
South Portland$1,629+12%
Barrington$1,550--
Rochester$1,400+26%
Lewiston$1,300--
Durham$1,190--
City2 Beds Avg RentAnnual Change
Portsmouth$3,0000%
Durham$2,800--
Rochester$2,400+91%
Berwick$2,287--
Dover$2,195+54%
South Portland$2,155-10%
Biddeford$1,795--
Somersworth$1,5000%
Lewiston$1,350--
Auburn$1,300--

Portland, ME Rent Trends

Studio1 Bed2 Beds
May 2023Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023Nov 2023Dec 2023Jan 2024Feb 2024Mar 2024Apr 2024May 2024
$2137$2137$2137$2137$2137$2137$2137$2137$1910$1910$1910$1995$2065
$2450$2450$2450$2450$2450$2650$2535$2650$2535$2535$2535$2637$2725
$1950$1950$2566$3182$3798$4412$4412$4412$4212$4212$4212$5480$5480
$2150$2150$3033$3916$4800$3950$2850$3400$3400$2750$2750$2750$2750

Neighborhood Information for Portland, ME

What are the most affordable neighborhoods in Portland, ME?

The most affordable neighborhoods in Portland are Rosemont, where the average 1-bedroom apartment rent goes for $1,500, Parkside, where renters pay $1,750 on average for a 1-bedroom apartment, and Downtown, where the average 1-bedroom apartment rent goes for $2,450. If you're looking for other great deals, check out the listings in Arts District ($2,450 for a 1-bedroom apartment) or West Bayside ($2,650 for a 1-bedroom apartment), compared to the $2,637 average for a Portland 1-bedroom apartment.

What are the most expensive neighborhoods in Portland, ME?

The most affordable neighborhoods in Portland are West Bayside, where the average 1-bedroom apartment rent goes for $2,650, Downtown, where renters pay $2,450 on average for a 1-bedroom apartment, and Arts District, where the average 1-bedroom apartment rent goes for $2,450. If you're looking for other great deals, check out the listings in Parkside ($1,750 for a 1-bedroom apartment) or Rosemont ($1,500 for a 1-bedroom apartment), compared to the $2,637 average for a Portland 1-bedroom apartment.

What are the most popular neighborhoods in Portland, ME?

The most popular neighborhoods in Portland are Rosemont, where the average 1-bedroom apartment rent goes for $1,500, Parkside, where renters pay $1,750 on average for a 1-bedroom apartment, and West Bayside, where the average 1-bedroom apartment rent goes for $2,650. If you're looking for other popular neighborhoods, check out the listings in Arts District ($2,450 for a 1-bedroom apartment) or Downtown ($2,450 for a 1-bedroom apartment), compared to the $2,637 average for a Portland 1-bedroom apartment.

Nearby Listings

  • Shepley Street property

    $1,900+

    Shepley Street

    1 Bed • 1 Bath

    450–500 Sqft

    1 Unit Available

  • The Armature property

    $2,225+

    The Armature

    Studio–2 Beds • 1–2 Baths

    400–1618 Sqft

    10+ Units Available

  • Liberty Commons property

    $2,190+

    Liberty Commons

    1–3 Beds • 1–2 Baths

    810–1460 Sqft

    1 Unit Available

  • Redbank Village property

    $1,613+

    Redbank Village

    1–3 Beds • 1 Bath

    535–825 Sqft

    10+ Units Available

  • Yarmouth Landing property

    $2,010+

    Yarmouth Landing

    1–2 Beds • 1–1.5 Baths

    660–930 Sqft

    1 Unit Available

  • Furnished Studio - Portland - Scarborough property

    $4,695

    Furnished Studio - Portland - Scarborough

    Studio • 1 Bath

    300 Sqft

    Contact for Availability