Downtown Portland, Portland, OR Rental Market Trends
Last updated: February 25, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Downtown Portland is $1,897, a 1.93% decrease compared to the previous year, when the average rent was $1,934.
Studio Apartments at $1,280 offer the most budget-friendly option with 447 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 690 square feet for $1,737, balancing privacy and affordability.
Two-beedroom units at $2,644 offer 1,045 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,625 sq ft) for $4,795, suitable for larger households.
Average rent in Downtown Portland, Portland, OR
Last updated: February 25, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,897 | 732 sq. ft. |
| Studio | $1,280 | 447 sq. ft. |
| 1 Bed | $1,737 | 690 sq. ft. |
| 2 Beds | $2,644 | 1,045 sq. ft. |
| 3 Beds | $4,795 | 1,625 sq. ft. |
Downtown Portland, Portland, OR rent trends
Rental prices in Downtown Portland, Portland, OR have decreased by 1.93% over the past year. The average rent moved from $1,934 to $1,897.
What's the typical rent budget in Downtown Portland, Portland, OR?
The largest share of rentals in Downtown Portland, Portland, OR (33%) fall between $1,501-$2,000 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Downtown Portland, Portland, OR?
2,809 or 76% of the households in Downtown Portland, Portland, OR are renter-occupied while 903 or 24% are owner-occupied.
Most affordable neighborhoods in Downtown Portland?
Portland Heights $1,046/month
Parkrose $1,228/month
Old Town Portland - Chinatown $1,303/month
All of these neighborhoods fall below the city wide average of $1,702/month.Most expensive neighborhoods in Downtown Portland?
South Waterfont $1,960/month
Hayden Island $1,981/month
The Pearl $2,071/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Portland, OR By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| The Pearl | $2,071 |
| Hayden Island | $1,981 |
| South Waterfont | $1,960 |
| Madison South | $1,919 |
| Downtown Portland | $1,897 |
| Mount Scott North | $1,868 |
| Southwest Gresham | $1,867 |
| Nob Hill - Northwest District | $1,824 |
| Boise | $1,798 |
| Bridgeton | $1,783 |
| Buckman | $1,772 |
| Northwest Gresham | $1,759 |
| Goose Hollow | $1,738 |
| Beaumont - Wilshire | $1,714 |
| Kerns | $1,694 |
| Portsmouth | $1,687 |
| Mount Hood | $1,684 |
| Kelly Creek | $1,675 |
| Sullivan's Gulch | $1,673 |
| Powell Valley | $1,671 |
| Lloyd District | $1,664 |
| Corbett - Terwilliger - Lair Hill | $1,663 |
| Hollybrook | $1,653 |
| Creston - Kenilworth | $1,613 |
| Eliot | $1,611 |
| Sellwood - Moreland | $1,609 |
| Wilkes East | $1,605 |
| Multnomah | $1,602 |
| Sunnyside | $1,597 |
| Gresham Pleasant Valley | $1,584 |
| Reed | $1,584 |
| Richmond | $1,582 |
| Rose City Park | $1,581 |
| East Centennial | $1,578 |
| North Central Gresham | $1,577 |
| Wilkes | $1,569 |
| Hillsdale | $1,565 |
| Irvington | $1,565 |
| Central Gresham City | $1,554 |
| Hosford - Abernethy | $1,543 |
| Northeast Gresham | $1,542 |
| Overlook | $1,540 |
| Hollywood | $1,521 |
| Mount Tabor | $1,506 |
| Parkrose Heights | $1,505 |
| West Portland Park | $1,498 |
| North Tabor - Center | $1,494 |
| Bridlemile | $1,489 |
| Argay | $1,486 |
| Cathedral Park | $1,480 |
| Rockwood | $1,467 |
| St. Johns | $1,461 |
| Homestead | $1,459 |
| West Centennial | $1,387 |
| Mill Park | $1,379 |
| Hazelwood | $1,371 |
| Lents | $1,361 |
| South Tabor | $1,330 |
| Powellhurst - Gilbert | $1,321 |
| Glenfair | $1,320 |
| Old Town Portland - Chinatown | $1,303 |
| Parkrose | $1,228 |
| Portland Heights | $1,046 |
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Portland | Rent Comparison by Neighborhood
Rent in Downtown Portland is 28% higher than in Argay
$1,897
Downtown Portland rent is the same as Portland average
Average Rent
$1,897
$1,486
Argay rent is 22% lower than Portland average
Average Rent
$1,486
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Downtown Portland apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.