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Rental market trends in Portland, OR

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Average Rent in Portland, OR

Average Rent in Portland, OR

Avg. RentAnnual Change
Studio - $1,2460%
1 Bed - $1,5450%
2 Beds - $1,887+5%
Last updated 5/23/2024

Average Apartment Cost in Portland, OR

The average rent for apartments in Portland, OR, is between $1,246 and $1,887 in 2024. For a studio apartment in Portland, OR, the average rent is $1,246. When it comes to 1-bedroom apartments, the average rent in Portland, OR, is $1,545. For a 2-bedroom apartment, the average rent is $1,887.

Apartment Rent Ranges in Portland, OR

Apartment PricesProportion
0%
2%
27%
19%
52%

Neighborhood Apartment Rent Trends in Portland, OR

NeighborhoodStudio Avg RentAnnual Change
Mississippi$1,620--
Richmond$1,5220%
North Portland$1,475+5%
Overlook$1,459-18%
Pearl$1,453+1%
Buckman$1,451+12%
South Portland$1,450+1%
Hawthorne District$1,434+11%
St. Johns$1,375-3%
Northeast Hazel Dell$1,375+20%
Kerns$1,327-4%
Hillsdale$1,295--
Westmoreland$1,290-9%
Mt. Tabor$1,275-2%
Arbor Lodge$1,275-4%
Cathedral Park$1,237--
Homestead$1,237+12%
Lair Hill$1,235+7%
Sunnyside$1,220+32%
Belmont$1,220+32%
Northwest Portland$1,212-1%
Northeast Portland$1,200-4%
Creston-Kenilworth$1,200+12%
Northwest District$1,197-2%
Nob Hill$1,197-2%
Humboldt$1,195--
Irvington$1,175-4%
Goose Hollow$1,167-6%
Alphabet District$1,162-3%
King's Hill Historic District$1,150-4%
Eliot$1,139-7%
Downtown$1,125-2%
Parkrose$1,110+1%
Powellhurst-Gilbert$1,075--
East Portland$1,065+1%
Centennial$1,065+1%
Hollywood$1,050--
Multnomah Village$1,000--
Central Northeast Portland$999--
Hazelwood$995--
Neighborhood1 Bed Avg RentAnnual Change
Mississippi$1,948+3%
Pearl$1,907-13%
Buckman$1,871+27%
Northwest Portland$1,807+13%
Goose Hollow$1,740+1%
Kenton$1,672-4%
Northeast Hazel Dell$1,620+10%
King's Hill Historic District$1,575+4%
Irvington$1,575+5%
Northeast Portland$1,549-5%
St. Johns$1,549-3%
Hawthorne District$1,545+2%
Northwest District$1,522-2%
Nob Hill$1,522-2%
Westmoreland$1,512-5%
Humboldt$1,499+7%
Mt. Tabor$1,495-4%
South Portland$1,4950%
Richmond$1,495+2%
Kerns$1,490+2%
Alphabet District$1,482+4%
North Portland$1,462-8%
North Tabor$1,437+3%
Hillsdale$1,435+37%
Parkrose$1,422--
Sullivan's Gulch$1,395+8%
Overlook$1,3750%
Cathedral Park$1,355-12%
Sunnyside$1,347-1%
Powellhurst-Gilbert$1,325--
Hollywood$1,295-15%
Arbor Lodge$1,295-10%
East Portland$1,250-10%
Belmont$1,2500%
Centennial$1,250-10%
Eliot$1,245-53%
Montavilla$1,245-4%
Lair Hill$1,235-5%
Hazelwood$1,225-5%
Central Northeast Portland$1,200-16%
Homestead$1,200-23%
Lents$1,200-14%
Multnomah Village$1,195+6%
Creston-Kenilworth$1,195+2%
Cully$1,095-33%
Neighborhood2 Beds Avg RentAnnual Change
Goose Hollow$2,852-7%
Mississippi$2,761-8%
Kerns$2,662-8%
Northwest District$2,385+4%
Nob Hill$2,385+4%
Cully$2,275+69%
Humboldt$2,225-11%
Alphabet District$2,200+5%
Buckman$2,099+5%
North Portland$2,025-6%
Kenton$2,022+1%
Hawthorne District$1,945+1%
Northeast Portland$1,912-18%
Overlook$1,899-12%
Sullivan's Gulch$1,895--
Westmoreland$1,889+16%
King's Hill Historic District$1,845+19%
Northeast Hazel Dell$1,842+10%
Eliot$1,825-40%
Cathedral Park$1,810+7%
Irvington$1,800+6%
Hollywood$1,795-10%
Parkrose$1,770+11%
Hillsdale$1,707+14%
Richmond$1,700-5%
North Tabor$1,700+14%
St. Johns$1,675-30%
Arbor Lodge$1,649-25%
Sunnyside$1,645-18%
Belmont$1,645--
South Portland$1,595-35%
Powellhurst-Gilbert$1,595-6%
Central Northeast Portland$1,522-10%
Creston-Kenilworth$1,520+5%
East Portland$1,495-5%
Lents$1,495-6%
Centennial$1,495-3%
Lair Hill$1,450+5%
Montavilla$1,425-13%
Multnomah Village$1,400+6%
Hazelwood$1,399-6%
Homestead$1,395--
Woodstock$1,395--
Mt. Tabor$1,350-32%

How Other Cities Compare to Portland, OR

CityStudio Avg RentAnnual Change
Hillsboro$2,4520%
Beaverton$2,3690%
Lake Oswego$1,904+15%
Vancouver$1,881+1%
Forest Grove$1,562--
Milwaukie$1,497+25%
Canby$1,4750%
Salem$1,437+80%
Wilsonville$1,425+2%
Camas$1,300-7%
Tualatin$1,295+6%
Gresham$1,200-13%
City1 Bed Avg RentAnnual Change
Battleground$1,769--
Vancouver$1,760-6%
Milwaukie$1,721+2%
Troutdale$1,715--
Wilsonville$1,647-8%
Gresham$1,633+10%
Canby$1,5600%
Lake Oswego$1,550-13%
Beaverton$1,535-10%
Oregon City$1,450-3%
Camas$1,445-15%
Longview$1,380--
Salem$1,287-3%
Forest Grove$1,275-7%
Mcminnville$1,250--
Keizer$1,150+10%
City2 Beds Avg RentAnnual Change
Newberg$2,1990%
Wilsonville$2,115-13%
Troutdale$2,020+22%
Vancouver$2,005+6%
Forest Grove$1,907+42%
Milwaukie$1,8950%
Beaverton$1,880+6%
Lake Oswego$1,825-39%
Oregon City$1,750+2%
Mcminnville$1,6950%
Gresham$1,694+2%
Canby$1,657+5%
Tualatin$1,625-4%
Camas$1,625-13%
Battleground$1,600-15%
Longview$1,586--
Clackamas$1,550--
Salem$1,545-4%
Keizer$1,475+4%

Portland, OR Rent Trends

Studio1 Bed2 Beds
May 2023Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023Nov 2023Dec 2023Jan 2024Feb 2024Mar 2024Apr 2024May 2024
$1262$1285$1285$1282$1262$1221$1223$1232$1219$1237$1225$1246$1262
$1497$1497$1497$1497$1497$1496$1495$1495$1495$1497$1497$1497$1497
$1895$1860$1895$1837$1824$1795$1715$1720$1725$1795$1825$1877$1860
$2075$1985$2020$1995$2095$2095$2095$2195$2250$2150$2150$2285$2300

Neighborhood Information for Portland, OR

What are the most affordable neighborhoods in Portland, OR?

The most affordable neighborhoods in Portland are Cully, where the average 1-bedroom apartment rent goes for $1,095, Multnomah Village, where renters pay $1,195 on average for a 1-bedroom apartment, and Creston-Kenilworth, where the average 1-bedroom apartment rent goes for $1,195. If you're looking for other great deals, check out the listings in Central Northeast Portland ($1,200 for a 1-bedroom apartment) or Homestead ($1,200 for a 1-bedroom apartment), compared to the $1,545 average for a Portland 1-bedroom apartment.

What are the most expensive neighborhoods in Portland, OR?

The most affordable neighborhoods in Portland are Downtown, where the average 1-bedroom apartment rent goes for $2,177, Mississippi, where renters pay $1,948 on average for a 1-bedroom apartment, and Pearl, where the average 1-bedroom apartment rent goes for $1,907. If you're looking for other great deals, check out the listings in Buckman ($1,871 for a 1-bedroom apartment) or Northwest Portland ($1,807 for a 1-bedroom apartment), compared to the $1,545 average for a Portland 1-bedroom apartment.

What are the most popular neighborhoods in Portland, OR?

The most popular neighborhoods in Portland are Hawthorne District, where the average 1-bedroom apartment rent goes for $1,545, Belmont, where renters pay $1,250 on average for a 1-bedroom apartment, and Sunnyside, where the average 1-bedroom apartment rent goes for $1,347. If you're looking for other popular neighborhoods, check out the listings in Richmond ($1,495 for a 1-bedroom apartment) or North Tabor ($1,437 for a 1-bedroom apartment), compared to the $1,545 average for a Portland 1-bedroom apartment.

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