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40 Free Street offers excellent value and a premier amenity package, with air conditioning, in-unit laundry, stainless steel appliances, elevator access, bike storage, and utilities included, earning an expert rating of 8.5/10 and top marks for amenities, price, and location. Its walkable setting places residents near extensive parks, cultural venues, restaurants, coworking options, fitness and wellness resources, and pet services, while strong transparency from management and high value per square foot further enhance its appeal.
Things you’ll love
High school nearbyMore spaceDishwasherGreat for
Pet owners
Work-from-home
Wellness| 1BR/1.0BA | 1 bed | 1 bath | 654 sqft | $2,555 /mo | 1 unit available | Experience stylish city living at 40 Free Street, a contemporary 6-story building completed in 2021. Unit 505 is a beautiful 5th-floor, 1-bedroom, 1-bathroom apartment featuring a balcony with a view of Free St, modern finishes, and right in the heart of downtown Portland. Enjoy easy access to local shops, restaurants and coffee spots. Apartment Features: -5th-floor unit with balcony view of Free St. -In-unit laundry -Stainless steel appliances -Air conditioning -Bike storage on the first floor Rent Includes: -Cold water -Sewer Tenant Pays: -All other utilities (high-efficiency electric systems) Parking Options: -Outdoor surface lot: $160/month -Garage (waitlist): $180/month when available Pet-friendly building! $40/month per pet (size, age, and breed restrictions may apply) Showings: Available by appointment only Monday through Friday for qualified applicants who have submitted a complete rental application. The unit must be viewed in person (or by proxy) before an offer can be made. How to Apply: Click “APPLY NOW” on the listing to submit your application. Each person 18+ who will live in the unit must complete a separate online application and upload: -Proof of income -Photo ID -Pet photos & current vaccination records (if applicable) Qualification Requirements: -Minimum 2 years of positive rental history -Credit score of 680+ -No criminal history or bankruptcy -Monthly income at least 2.5x the rent (e.g., $2,455 rent → $6,137 monthly income) *If you’re new to renting, have limited credit, or don’t meet income requirements, a qualified co-signer may be accepted. | |
| 2BR/2.0BA | 2 bed | 2 bath | 933 sqft | $4,690 /mo | 1 unit available | $4,960 Unit 604 is a 2-bedroom and 2-bathroom penthouse with an ocean view and balcony located on the 6th floor of a 6-story building. Available Early July. This building was completed in 2021 and features modern living in downtown Portland! There are many local shops, restaurants and civic spaces throughout the area. Rent Includes: • Cold Water • Sewer Tenant Pays: • All other utilities (high-efficiency electric systems) Additional Features: • In-unit laundry • Stainless steel appliances • Air conditioning • Bike storage • Elevator • Pet friendly building (Size and breed restrictions apply) • Off-street parking in secure lot for $160/month Lease Terms: • Security Deposit: Equal to one month’s rent (due at offer acceptance) • First Month’s Rent: Due before move-in • Lease Term: 1 year • Renter’s Insurance required throughout tenancy Available by appointment only Monday through Friday for approved applicants who have submitted a complete application. The unit must be viewed in person (or by proxy) before an offer can be made. How to Apply: Click “APPLY NOW” on the listing to submit your application. Each person 18+ who will live in the unit must complete a separate online application and upload: -Proof of income -Photo ID -Pet photos & current vaccination records (if applicable) Qualification Requirements: -Minimum 2 years of positive rental history -Credit score of 680+ -No criminal history or bankruptcy -Monthly income at least 2.5x the rent (e.g., $4,690 rent → $11,725 monthly income) *If you’re new to renting, have limited credit, or don’t meet income requirements, a qualified co-signer may be accepted. |
Let's explore this property.
Apartment Amenities
| Air Conditioning | Heat Pump |
Appliances
| Dishwasher | Garbage Disposal |
| In-Unit Laundry | Stainless Steel Dishwasher |
| Stainless Steel Microwave | Stainless Steel Oven & Range |
| Stainless Steel Refrigerator |
Building
| Bike Storage | Cats OK |
| Controlled Entry | Dogs OK |
| Elevator | Sewer |
Grounds
| Storage |
Other
| Cold Water |
One-time.
One-time. Refundable.
Questions about this property’s policies and fees?
| Units | 51 |
|---|
Experience stylish city living at 40 Free Street, a contemporary 6-story building completed in 2021. Unit 505 is a beautiful 5th-floor, 1-bedroom, 1-bathroom apartment featuring a balcony with a view of Free St, modern finishes, and right in the heart of downtown Portland. Enjoy easy access to local shops, restaurants and coffee spots. Apartment Features: -5th-floor unit with balcony view of Free St. -In-unit laundry -Stainless steel appliances -Air conditioning -Bike storage on the first floor Rent Includes: -Cold water -Sewer Tenant Pays: -All other utilities (high-efficiency electric systems) Parking Options: -Outdoor surface lot: $160/month -Garage (waitlist): $180/month when available Pet-friendly building! $40/month per pet (size, age, and breed restrictions may apply) Showings: Available by appointment only Monday through Friday for qualified applicants who have submitted a complete rental application. The unit must be viewed in person (or by proxy) before an offer can be made. How to Apply: Click “APPLY NOW” on the listing to submit your application. Each person 18+ who will live in the unit must complete a separate online application and upload: -Proof of income -Photo ID -Pet photos & current vaccination records (if applicable) Qualification Requirements: -Minimum 2 years of positive rental history -Credit score of 680+ -No criminal history or bankruptcy -Monthly income at least 2.5x the rent (e.g., $2,455 rent → $6,137 monthly income) *If you’re new to renting, have limited credit, or don’t meet income requirements, a qualified co-signer may be accepted.
How 40 Free Street compares to other nearby properties.
Positives
Considerations
1-bedroom apartments here are priced 21% higher than 1-bedrooms in Downtown Portland.
If you decide to upgrade your space, you can expect 2-bedrooms at 40 Free Street to be 71% more than the average for similarly sized apartments in Downtown Portland.
| Month | Median Rent |
|---|---|
| May 2024 | $1,831 |
| June 2024 | $1,709 |
| July 2024 | $1,911 |
| August 2024 | $1,756 |
| September 2024 | $1,672 |
| October 2024 | $1,704 |
| November 2024 | $1,738 |
| December 2024 | $1,673 |
| January 2025 | $1,695 |
| February 2025 | $1,778 |
| March 2025 | $1,816 |
| April 2025 | $1,809 |
| May 2025 | $1,711 |
| June 2025 | $1,939 |
| July 2025 | $1,938 |
| August 2025 | $1,778 |
| September 2025 | $1,745 |
| October 2025 | $1,744 |
| November 2025 | $1,707 |
| December 2025 | $1,756 |
| January 2026 | $1,707 |
| February 2026 | $1,652 |
| March 2026 | $1,889 |
| April 2026 | $1,957 |
| Month | Median Rent |
|---|---|
| May 2024 | $2,204 |
| June 2024 | $2,186 |
| July 2024 | $2,500 |
| August 2024 | $2,096 |
| October 2024 | $2,146 |
| November 2024 | $1,889 |
| December 2024 | $1,806 |
| March 2025 | $1,990 |
| April 2025 | $2,093 |
| May 2025 | $2,380 |
| June 2025 | $2,450 |
| July 2025 | $2,385 |
| August 2025 | $2,227 |
| September 2025 | $2,290 |
| October 2025 | $2,323 |
| November 2025 | $2,427 |
| December 2025 | $2,483 |
| January 2026 | $2,392 |
| February 2026 | $2,385 |
| March 2026 | $2,322 |
| April 2026 | $2,153 |
Can I afford to live at 40 Free St?
Bedrooms
Rent-to-income ratio
30%
$102,200/yr
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