Millhouse
1985-1988 NW Savier St,
Portland, OR 97209
$1,349 - $4,135
Studio - 2 Beds
Rental Market Trends in Portland, OR
What is the average rent in Portland, OR?
$1,502/month
Average Rent
643 Sq Ft
Average Apartment Size
-1.2%
Decrease in the Last Year
As of January 2026, the average rent in Portland, OR is $1,502 per month. For comparison, the national average rent price in the US is currently $1,625/month, which means Portland rent prices are 8% lower than the national average. When you rent an apartment in Portland, you can expect to pay about $1,236 per month for a studio, $1,502 for a one-bedroom apartment, and around $1,793 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,095 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, OR?
In the past year, rent has decreased by 1.2%, which averages out to $18 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated January 2026
Legend
2025
2026
Rent Ranges in Portland, OR
Last Updated January 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
15%
$700 - $1,000/month
50%
$1,001 - $1,500/month
27%
$1,501 - $2,000/month
5%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Portland?
Based on current rent prices, Gateway, Rockwood and Centennial 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, Alphabet District, Goose Hollow and Pearl 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 Northeast Portland, Downtown Portland and Northwest Portland .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Portland, OR?
Because the average rent in Portland is $1,502, you’ll want to make about $5,006 per month or $60,072 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, OR is 15.5% higher than the national average. Generally, housing in Portland is 38.3% more expensive than the national average, with rent falling between $1,236 - $2,095. You can expect to pay 6.6% more for groceries, 4.4% less for utilities, and 24.3% more for transportation.
How does Portland, OR compare to other nearby cities and neighborhoods?
Use the tool below to compare Portland, OR 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
$1,148/month
-
One Bedroom
$1,217/month
-
Two Bedroom
$1,373/month
-
Three Bedroom
$1,675/month
-
Nearby City Rent Trends
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Property Management Companies in Portland, OR
Avenue5 Residential
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552
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122,349
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219
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52 Communities in Portland
Greystar
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3,446
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951,357
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887
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Legacy Property Management
-
33
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864
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5
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29 Communities in Portland
Meritus Property Group, LLC
-
24
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1,882
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6
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SVN International Corp
-
68
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3,537
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34
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16 Communities in Portland
Princeton Property Management
-
35
Communities
-
2,745
Units
-
12
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16 Communities in Portland
Commercial & Residential Management Group
-
28
Communities
-
2,668
Units
-
11
Cities
13 Communities in Portland
VCS Commercial Real Estate
-
13
Communities
-
519
Units
-
2
Cities
12 Communities in Portland
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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 November 2025.
* Percentages may not total 100 due to rounding.