Average Rent in Portland, OR

Current Versus Historical Portland, OR Rents

Portland rentals average $1,150 for a studio rental to $3,475 for a 4-bedroom rental. The median price of all currently available listings is $1,495, or roughly $26 per square feet.

For the apartment units and housing in March 2023, median rents have risen over the last year. Studio rentals prices have decreased by $19 (-1.17%) year-over-year from $1,618 to $1,599. 1-bedroom rentals prices have increased by $162 (9.38%) year-over-year from $1,724 to $1,886. 2-bedroom rentals prices have increased by $129 (6.93%) year-over-year from $1,866 to $1,995. 3-bedroom rentals prices have increased by $107 (4.47%) year-over-year from $2,388 to $2,495. 4-bedroom rentals prices have increased by $366 (12.07%) year-over-year from $3,032 to $3,398. 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 up by 0.52% this month. 1-bedroom rents have gone up by 5.82% this month. 2-bedroom rents have gone down by 0.00% this month. 3-bedroom rents have gone up by 2.75% this month. 4-bedroom rents have gone up by 6.25% this month.

Beds	Price / Sqft	Mar 2023 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$35	$1,599	$1,618 (-1.17%)	$1,097 (45.76%)
1 BR	$29	$1,886	$1,724 (9.38%)	$1,295 (45.64%)
2 BR	$24	$1,995	$1,866 (6.93%)	$1,512 (31.92%)
3 BR	$22	$2,495	$2,388 (4.47%)	$2,038 (22.41%)
4+ BR	$18	$3,398	$3,032 (12.07%)	$2,571 (32.16%)

Historical Rents in Portland, OR

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Portland

There are a total of 4 cities nearby Portland. The average rent in Portland is currently $1,686 per month. Only one city nearby has an average rent lower than that. Our records show that Gresham, OR, with an average rent of $1,495, is the most affordable city nearby. In contrast, the most expensive city near Portland, OR is Hillsboro, OR. Monthly rents here are on average $2,150 per month.

Let's compare Portland, OR's rent against other top cities nearby by bedroom size. Typically, rent for studios in Portland, OR is on par with the other cities nearby. One bedrooms are about 0.99% more expensive. Two bedrooms in Portland, OR are about 0.22% more expensive. Finally, rent for three bedrooms are about 9.99% more expensive. Want more information? Check out the top 4 cities near Portland, OR in the following chart.

City	Studio	1 Bed	2 Bed	All
Gresham, OR	$1,200	$1,298	$1,495	$1,495
Vancouver, WA	$1,228	$1,297	$1,583	$1,575
Beaverton, OR	N/A	$1,565	$1,800	$1,797
Hillsboro, OR	$1,100	$1,465	$2,100	$2,150

Top Neighborhoods Near Portland

There are a total of 2 neighborhoods in or near Portland. We've included all of these top 2 neighborhoods in or near Portland, OR in the following chart.

The average rent for these 2 neighborhoods in or near Portland, OR is currently around $1,413 per month. A total of one neighborhood has a lower average rent. Meaning, only a single neighborhood out of these neighborhoods has a higher average rent. Out of all the neighborhoods in or near Portland, Northwest District has the most affordable average rent at $1,300 per month. Whereas, at $1,525 average rent per month, Sellwood - Moreland is the most expensive neighborhood in or near Portland. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Northwest District, Portland, OR	$1,150	$1,400	$2,073	$1,300
Sellwood - Moreland, Portland, OR	$1,350	$1,500	$1,660	$1,525

Top Counties Near Portland

There are a total of 2 counties located by Portland, OR. Some of these counties include Multnomah, OR, Clark, WA, and Washington, OR. The average rent for rentals in these counties is $1,699. That's roughly around $21 per sqft. A total of 1 counties have a lower average rent. 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 $2,007, Washington, OR is the most expensive county by Portland, OR.

Typically, rent for studios in Portland, OR is 2.17% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Portland, OR is on par with the other counties nearby. Finally, rent for two bedrooms in Portland, OR is 2.65% 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	$1,395	$1,650	$1,495
Clark, WA	$1,228	$1,375	$1,595	$1,699
Washington, OR	$1,175	$1,458	$1,767	$2,007

Top Zipcodes Near Portland

There are a total of 13 zipcodes in or near Portland, OR. The average rent for all of these zipcodes is $1,495. A total of 7 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 97209, Portland, OR at $1,250 per month. In comparison, the zipcode with the most expensive average rent of $2,200 per month is 97006, Beaverton, OR.

Studios in these zipcodes have an average rent of $1,130. That's at least $35 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Portland, OR is $1,398 per month. Or in other words, $28 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,695 per month. Which comes out to $24 per sqft. The following chart includes the top 10 zipcodes in Portland, OR. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
97217, Portland, OR	$1,212	$1,398	$2,125	$1,495
97202, Portland, OR	$1,250	$1,437	$1,695	$1,545
97006, Beaverton, OR	N/A	$1,450	$2,095	$2,200
97233, Portland, OR	$995	$1,113	$1,325	$1,300
97209, Portland, OR	$1,130	$1,438	$2,800	$1,250
97214, Portland, OR	$1,260	$1,400	$1,695	$1,398
98661, Vancouver, WA	$995	$1,269	$1,545	$1,495
97206, Portland, OR	N/A	$1,238	$1,495	$1,550
97203, Portland, OR	$1,200	$1,413	$1,795	$1,510
97210, Portland, OR	$1,170	$1,433	$2,073	$1,400

Frequently Asked Questions - Portland Average Rents

What is the average rent price in Portland, OR?

The average monthly rental price for Portland, OR apartments for rent is approximately $1,495. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 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 Portland, OR.

How much is a studio apartment in Portland, OR?

The average monthly rental price for studio apartments is $1,150 and an average price per square feet of $35.29. There are a total of 216 studio apartment listings currently available for rent in Portland.

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

The average monthly rental price for one bedroom apartments is $1,395 and an average price per square feet of $28.99. There are a total of 442 one bedroom apartment listings currently available for rent in Portland.

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

The average monthly rental price for two bedroom apartments is $1,695 and an average price per square feet of $23.91. There are a total of 370 two bedroom apartment listings currently available for rent in Portland.

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

Rent prices for rentals in Portland, OR can fluctuate yearly. Specifically, studio rental prices have changed by -0.01%, one bedroom rental prices have changed by 0.09%, two bedroom rental prices have changed by 0.07%, and three bedroom rental prices have changed by 0.04% year-over-year.

What is a reasonable rent price in Portland, OR?

A reasonable rent price in Portland, OR is around $1,196/month. You can search for these reasonably priced rental listings on RentHop.