The Armature
52 Hanover St,
Portland, ME 04101
Studio - 2 Beds | $1,995 - $5,580
Rental Market Trends in Portland, ME
What is the average rent in Portland, ME?
$1,814/month
Average Rent
573 Sq Ft
Average Apartment Size
+0.8%
Increase in the Last Year
As of June 2025, the average rent in Portland, ME is $1,814 per month. For comparison, the national average rent price in the US is currently $1,627/month, which means Portland rent prices are 11% higher than the national average. When you rent an apartment in Portland, you can expect to pay about $1,546 per month for a studio, $1,814 for a one-bedroom apartment, and around $2,065 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,714 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Portland, ME?
In the past year, rent has increased by 0.8%, which averages out to $16 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated June 2025
Legend
2024
2025
Rent Ranges in Portland, ME
Last Updated June 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
4%
$700 - $1,000/month
37%
$1,001 - $1,500/month
40%
$1,501 - $2,000/month
19%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Portland?
Based on current rent prices, West Bayside, Downtown Portland and Arts District are the most affordable neighborhoods in Portland.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Portland?
Based on current rent prices, Government District, Old Port District and Old Port are the most expensive neighborhoods in Portland.
Neighborhood
Average Rent
Average Sq Ft
Which Portland neighborhoods have the most rentals available?
The neighborhoods in Portland with the most apartments available are Downtown Portland, Arts District and West Bayside .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Portland, ME?
Because the average rent in Portland is $1,814, you’ll want to make about $6,046 per month or $72,552 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Portland, ME is 12.1% higher than the national average. Generally, housing in Portland is 28.7% more expensive than the national average, with rent falling between $1,546 - $2,714. You can expect to pay 1.6% more for groceries, 10.8% more for utilities, and 7.7% more for transportation.
How does Portland, ME compare to other nearby cities and neighborhoods?
Use the tool below to compare Portland, ME to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,719/month
$1,565/month
One Bedroom
$1,931/month
$1,816/month
Two Bedroom
$2,350/month
$2,184/month
Three Bedroom
$2,617/month
$3,012/month
Nearby City Rent Trends
Apartment communities in Portland we think you'll love
Property Management Companies in Portland, ME
Two Coast Living
-
91
Communities
-
27,770
Units
-
78
Cities
2 Communities in Portland
Princeton Properties
-
29
Communities
-
5,690
Units
-
21
Cities
2 Communities in Portland
SHP Management Corporation
-
21
Communities
-
2,855
Units
-
20
Cities
1 Community in Portland
URS Capital Partners
-
12
Communities
-
2,347
Units
-
11
Cities
1 Community in Portland
Learn More with Helpful Articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
Methodology
† 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.
* Percentages may not total 100 due to rounding.