Average Rent in Downtown Portland, Portland, OR

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Current Versus Historical Downtown Portland, Portland, OR Rents

Downtown Portland rentals average $995 for a studio rental to $2,120 for a 2-bedroom rental. The median price of all currently available listings is $1,295, or roughly $2 per square feet.

For the apartment units and housing in April 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $412 (-29.17%) year-over-year from $1,412 to $1,000. 1-bedroom rentals prices have decreased by $524 (-30.39%) year-over-year from $1,724 to $1,200. 2-bedroom rentals prices have decreased by $1,242 (-42.29%) year-over-year from $2,937 to $1,695. 3-bedroom rentals prices have increased by $0 (0.00%) year-over-year from $5,552 to $5,552. 4-bedroom rentals prices have increased by $0 (0.00%) year-over-year from $699 to $699. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 15.64% this month. 1-bedroom rents have gone down by 16.49% this month. 2-bedroom rents have gone down by 24.65% this month. 3-bedroom rents have gone down by 0.00% this month. 4-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$2.96	$1,000	$1,412 (-29.17%)	$1,225 (-18.37%)
1 BR	$2.21	$1,200	$1,724 (-30.39%)	$1,445 (-16.97%)
2 BR	$2.14	$1,695	$2,937 (-42.29%)	$2,309 (-26.58%)

Historical Rents in Downtown Portland, Portland, OR

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Downtown Portland

There are a total of 5 cities nearby Downtown Portland. The average rent in Downtown Portland is currently $1,595 per month. Our records show that Gresham, OR, with an average rent of $1,450, is the most affordable city nearby. In contrast, the most expensive city near Downtown Portland, Portland, OR is Hillsboro, OR. Monthly rents here are on average $2,100 per month.

Let's compare Downtown Portland, Portland, OR's rent against other top cities nearby by bedroom size. Typically, rent for studios in Downtown Portland, Portland, OR is 4.77% more expensive than other cities nearby. One bedrooms are about 1.79% more expensive. Two bedrooms in Downtown Portland, Portland, OR are about 22.41% more expensive. Finally, rent for three bedrooms are about inf% more affordable. Want more information? Check out the top 5 cities near Downtown Portland, Portland, OR in the following chart.

City	Studio	1 Bed	2 Bed	All
Gresham, OR	$948	$1,195	$1,495	$1,450
Portland, OR	$1,150	$1,375	$1,645	$1,475
Vancouver, WA	$1,238	$1,395	$1,550	$1,595
Beaverton, OR	N/A	$1,350	$1,695	$1,600
Hillsboro, OR	N/A	$1,450	$1,750	$2,100

Top Neighborhoods Near Downtown Portland

There are a total of 1 neighborhoods in or near Downtown Portland. We've included all of these top 1 neighborhoods in or near Downtown Portland, Portland, OR in the following chart.

The average rent for these 1 neighborhoods in or near Downtown Portland, Portland, OR is currently around $1,299 per month. Meaning, only a single neighborhood out of these neighborhoods has a higher average rent. Interestingly, the neighborhoods' average rent is higher than Downtown Portland's average rent, which is only $1,295. Out of all the neighborhoods in or near Downtown Portland, Northwest District has the most affordable average rent at $1,299 per month. Whereas, at $1,299 average rent per month, Northwest District is the most expensive neighborhood in or near Downtown Portland. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Northwest District, Portland, OR	$1,150	$1,412	$1,923	$1,299

Top Counties Near Downtown Portland

There are a total of 1 counties located by Downtown Portland, Portland, OR. Some of these counties include Multnomah, OR, Clark, WA, and Washington, OR. The average rent for rentals in these counties is $1,730. That's roughly around $2 per sqft. The county that is the most affordable is Multnomah, OR. It's average rent per month is $1,495. Vice versa, with an average rent of $2,001, Washington, OR is the most expensive county by Downtown Portland, Portland, OR.

Typically, rent for studios in Downtown Portland, Portland, OR is 15.58% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Downtown Portland, Portland, OR is 0.36% more expensive than other counties nearby. Finally, rent for two bedrooms in Downtown Portland, Portland, OR is 23.35% more expensive than other counties nearby. We've listed all of these counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Multnomah, OR	$1,150	$1,358	$1,625	$1,495
Clark, WA	$1,295	$1,395	$1,595	$1,730
Washington, OR	$663	$1,395	$1,695	$2,001

Top Zipcodes Near Downtown Portland

There are a total of 8 zipcodes in or near Downtown Portland, Portland, OR. The average rent for all of these zipcodes is $1,395.

The following chart includes the top 8 zipcodes in Downtown Portland, Portland, OR. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
97201, Portland, OR	$1,000	$1,375	$2,245	$1,325
97209, Portland, OR	$1,125	$1,525	$2,255	$1,395
97214, Portland, OR	$1,200	$1,375	$1,745	$1,385
97202, Portland, OR	$1,125	$1,395	$1,610	$1,495
97210, Portland, OR	$1,195	$1,423	$1,950	$1,395
97217, Portland, OR	$1,198	$1,365	$1,895	$1,495
97233, Portland, OR	$1,010	$1,150	$1,350	$1,350
98661, Vancouver, WA	N/A	$1,198	$1,550	$1,595

Frequently Asked Questions - Downtown Portland Average Rents

What is the average rent price in Downtown Portland, Portland, OR?

The average monthly rental price for Downtown Portland, Portland, OR apartments for rent is approximately $1,295. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Downtown Portland, Portland, OR rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Downtown Portland, Portland, OR.

How much is a studio apartment in Downtown Portland, Portland, OR?

The average monthly rental price for studio apartments is $995 and an average price per square feet of $2.96. There are a total of 12 studio apartment listings currently available for rent in Downtown Portland.

How much is a one bedroom apartment in Downtown Portland, Portland, OR?

The average monthly rental price for one bedroom apartments is $1,400 and an average price per square feet of $2.21. There are a total of 17 one bedroom apartment listings currently available for rent in Downtown Portland.

How much is a two bedroom apartment in Downtown Portland, Portland, OR?

The average monthly rental price for two bedroom apartments is $2,120 and an average price per square feet of $2.14. There are a total of 8 two bedroom apartment listings currently available for rent in Downtown Portland.

How have rent prices in Downtown Portland, Portland, OR changed this year?

Rent prices for rentals in Downtown Portland, Portland, OR can fluctuate yearly. Specifically, studio rental prices have changed by -0.29%, one bedroom rental prices have changed by -0.30%, two bedroom rental prices have changed by -0.42%, and three bedroom rental prices have changed by 0.00% year-over-year.

What is a reasonable rent price in Downtown Portland, Portland, OR?

A reasonable rent price in Downtown Portland, Portland, OR is around $1,036/month. You can search for these reasonably priced rental listings on RentHop.