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40 Free Street is a well-rated property with strong marks for value, amenities, location, and trustworthiness, supported by features like air conditioning, in-unit laundry, off-street parking, stainless steel appliances, elevator access, and bike storage. It also stands out for walkability, nearby transit, parks, dining, cultural spots, and resources that support pets, wellness, and working from home, while offering convenient access to a highly rated high school and competitive value per square foot.
Things you’ll love
High school nearbyMore spaceDishwasherGreat for
Pet owners
Wellness
Social life| 1BR/1.0BA | 1 bed | 1 bath | 652+ sqft | $2,276–$2,430 /mo | 4 units available | $2,276 - This apartment is part of Portland’s Inclusionary Zoning Program, which sets specific household income limits and maximum allowable rent. ***Please review all details and confirm that your household qualifies before applying.*** Household Size: Minimum 1 tenant / Maximum 2 tenants Income Range for a 2-person household: → Minimum annual income: $59,850 → Maximum annual income: $111,300 Enjoy modern city living in this beautiful 2nd-floor unit featuring beautiful city views. Located in a newer building completed in 2021, this apartment offers in-unit laundry, stainless steel appliances, and air conditioning. Just steps away from local coffee shops, restaurants, and downtown attractions, you’ll have everything Portland has to offer right outside your door. Rent Includes: • Cold Water • Sewer Tenant Pays: • All other utilities (high-efficiency electric systems) Apartment Features: • Corner Unit, Free St View • Pets allowed for $40/Month per pet, Proof of vaccines required (Size and Breed Restrictions apply) • In-unit laundry • Stainless steel appliances • Air conditioning 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., $2,455 rent → $6,137.50 monthly income) | |
| 2BR/2.0BA | 2 bed | 2 bath | 1,007 sqft | $3,455 /mo | 1 unit available | **Photos are of a similar unit Enjoy modern city living in this beautiful 4th-floor unit featuring beautiful Ocean and City views. Located in a newer building completed in 2021, this apartment offers in-unit laundry, stainless steel appliances, and air conditioning. Just steps away from local coffee shops, restaurants, and downtown attractions, you’ll have everything Portland has to offer right outside your door. Rent Includes: • Cold Water • Sewer Tenant Pays: • All other utilities (high-efficiency electric systems) Apartment Features: • Ocean Views • Pets allowed for additional fee of $40/Month per pet (Size and Breed Restrictions apply, Proof of Vaccines required) • In-unit laundry • Stainless steel appliances • Air conditioning 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., $2,645 rent → $6,612.50 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 |
| Patio |
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 | High Efficiency Heat Pump |
One-time.
One-time. Refundable.
Questions about this property’s policies and fees?
| Units | 51 |
|---|
$2,276 - This apartment is part of Portland’s Inclusionary Zoning Program, which sets specific household income limits and maximum allowable rent. ***Please review all details and confirm that your household qualifies before applying.*** Household Size: Minimum 1 tenant / Maximum 2 tenants Income Range for a 2-person household: → Minimum annual income: $59,850 → Maximum annual income: $111,300 Enjoy modern city living in this beautiful 2nd-floor unit featuring beautiful city views. Located in a newer building completed in 2021, this apartment offers in-unit laundry, stainless steel appliances, and air conditioning. Just steps away from local coffee shops, restaurants, and downtown attractions, you’ll have everything Portland has to offer right outside your door. Rent Includes: • Cold Water • Sewer Tenant Pays: • All other utilities (high-efficiency electric systems) Apartment Features: • Corner Unit, Free St View • Pets allowed for $40/Month per pet, Proof of vaccines required (Size and Breed Restrictions apply) • In-unit laundry • Stainless steel appliances • Air conditioning 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., $2,455 rent → $6,137.50 monthly income)
How 40 Free Street compares to other nearby properties.
Positives
Considerations
1-bedroom apartments here are priced 13% 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 14% less than the average for similarly sized apartments in Downtown Portland.
| Month | Median Rent |
|---|---|
| September 2024 | $1,675 |
| 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 | $1,951 |
| May 2026 | $1,879 |
| June 2026 | $1,831 |
| July 2026 | $1,750 |
| August 2026 | $1,819 |
| September 2026 | $1,869 |
| Month | Median Rent |
|---|---|
| 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 | $2,142 |
| May 2026 | $2,124 |
| June 2026 | $2,133 |
| July 2026 | $2,180 |
| August 2026 | $2,146 |
| September 2026 | $2,084 |
Can I afford to live at 40 Free St?
Bedrooms
Rent-to-income ratio
30%
$91,040/yr
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3 Beds
$3,000
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4 Beds
$3,100
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2 Beds
$3,000
East End • 95 Congress St #NA
2 Beds
$3,000
