Portland Terrace
7232 Portland Ave,
Richfield, MN 55423
$1,225 - $1,700 | 1-3 Beds
Four neighborhoods filled with shops and parks compose the city of Richfield, Minneapolis's oldest suburb, which is located a couple of miles south of the city. This is one of the most popular neighborhoods in Richfield, housing nearly 8,000 residents. Single-family homes and an abundance of apartment rentals make this possible.
Besides containing several well-maintained parks and a selection of unique restaurants, Southeast Richfield enjoys prime access to Downtown Minneapolis via the nearby Interstate 35W. A three-minute drive on Interstate 494 also connects this neighborhood to the Mall of America in the suburb of Bloomington.
As of July 2025, the average apartment rent in Southeast Richfield is $846 for a studio, $987 for one bedroom, $1,257 for two bedrooms, and $1,341 for three bedrooms. Apartment rent in Southeast Richfield has increased by 4.1% in the past year.
Studio
482 sq ft
Average Sq Ft
$846/month
Average Rent
1 BR
664 sq ft
Average Sq Ft
$987/month
Average Rent
2 BR
846 sq ft
Average Sq Ft
$1,257/month
Average Rent
3 BR
998 sq ft
Average Sq Ft
$1,341/month
Average Rent
Somewhat Walkable
out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you’ll need a car.
Some Transit
out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Bikeable
out of 100 BikeScore® Rating
While there’s some bike infrastructure in this area, you’ll still need a car for many errands.
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.