Apartments for Rent in Downtown Portland, Portland, OR

Downtown Portland, Portland apartment availability

Downtown Portland's rental market offers a very strong selection of listings, with an average of 235 rentals available each month in 2024. The majority of rentals are 1-bedroom and studio apartments, making up a significant portion of the neighborhood's listings. Many of these apartments are pet-friendly, with over 55% allowing pets, making Downtown Portland a great option for renters with furry friends. The neighborhood's vibrant atmosphere and proximity to amenities make it a popular choice for renters looking for a lively urban lifestyle.

Downtown Portland, Portland rental market trends

Downtown Portland's rental market experienced a decline in 2024, with average monthly rents decreasing by 10.3% to $1,474. Breaking it down by bed count, 1-bedrooms averaged $1,497 per month, a 6.6% decrease from the previous year. The average rent for 2-bedrooms was $2,256, while studios came in at $1,112.

The market typically sees its highest rents in February, with a significant 17.8% increase compared to December, the month with the lowest rents. If you're looking for a new apartment, winter might be a good time to search, as prices tend to be lower. However, if you're looking for the most options, be prepared for a more competitive market during the rest of the year. Notably, the most substantial rent fluctuations occur between February and December, making these periods crucial for renters to consider when searching for a new place.

Why Downtown Portland, Portland is a great place to live

Downtown Portland is a hub for renters who value social living and environmental sustainability. With its high walk score, restaurant scene, and street infrastructure, this neighborhood is ideal for those who enjoy getting out and about with friends. The area's strong transit frequency and safety record add to its appeal. Downtown Portland also stands out for its eco-friendly features, including the use of non-toxic paint, rainwater harvesting, and community solar projects in many of its apartments. The neighborhood's walk score and access to parks and recreation areas make it easy to maintain a sustainable lifestyle outside of the home. Overall, Downtown Portland offers a unique blend of social and environmental benefits that make it an attractive choice for renters.