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City Report · OR

Portland

Pop. 641,165·38th most expensive in Oregon·Rental market data updated monthly for Portland, OR
Median rent (all units)
$1,721/mo
Year-over-Year
+1.5%
Month-over-Month
-0.2%
vs US Median
-$244
Stable (Monthly)
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Most AffordableMost Expensive
Portland · $1,721
More affordable than 60% of US cities · National median $1,965/mo
Rent Reality Score
59/100
Fairly priced
OverheatedFairGreat value

Rents are 4% below what Portland's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$1,721/mo
Expected by trend
$1,798/mo
The Rent Reality Score compares today's median rent to where Portland's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,663
1 BR
$1,785
2 BR
$2,039
3 BR
$2,802
4 BR+
$3,280
Research median
$2,039/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$20,652/yr
At $1,721/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+1.5% YoY, -0.2% MoM), not inventory.
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Demographics

Who lives here

Portland, OR is roughly split between renters and owners, has a median income above the national average, 53.8% of residents hold a bachelor's degree or higher.

Population
641,165
Median income
$90,919
Median age
38.8
Renters
48%
Age distribution
16.3%
26.5%
32.2%
14.5%
Under 1816.3%
18–3426.5%
35–5432.2%
55–6410.5%
65+14.5%
Gender
49.7%
50.3%
Male49.7%
Female50.3%
Race & ethnicity
68.1%
12%
White68.1%
Black5.7%
Hispanic12%
Asian8.1%
Other6.1%
Education (25+)
14.6%
25%
53.8%
No HS diploma6.6%
HS diploma14.6%
Some college25%
Bachelor's+53.8%
Housing tenure
52%
48%
Owner52%
Renter48%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Portland, OR has changed in 5 years

Rent
$1,460 → $1,721
up 17.9%
Income
$78,476 → $90,919
up 15.9%
Population
647,176 → 641,165
down 0.9%
Renter share
46.6% → 48%
+1.4 pts
Bachelor's+
51.9% → 53.8%
+1.9 pts
Median age
37.9 → 38.8
+0.9 yrs

Across the past five years, the going rent in Portland, OR has shifted from $1,460 to $1,721, up 17.9% since 2021. Census figures show median household income at $90,919 today, compared with $78,476 five years earlier. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

Discussions about Portland

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View Portland rent history (2015–2026) →
Salary vs rent

Can you afford rent in Portland on your salary?

At $1,721/mo, how Portland rent compares to typical pay (30% rule).

By apartment size

Portland rent by bedroom count

Median rent for each apartment size in Portland. Click any size for full breakdown.

Local insights

Tips for renters in Portland

About renting in Portland, OR

Last updated: July 20, 2026

The median rent in Portland is $1,721/mo as of July 2026. A studio apartment averages $1,663/mo while a 2-bedroom runs $2,039/mo. One-bedroom apartments average $1,785/mo and 3-bedroom units go for $2,802/mo.

At 23% of local median household income ($90,919/yr), Portland ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.5% over the past year.

FAQ

Frequently asked questions

Is Portland an affordable city for renters?

Portland is considered very affordable for renters. At $1,721/mo, rent takes approximately 23% of the local median household income ($90,919/yr). The standard benchmark is 30%. Portland falls comfortably within that range.

How much income do you need to rent in Portland?

To keep rent at or below 30% of gross income, you would need to earn at least $69,000/year (~$33/hour full-time) to afford the median rent of $1,721/mo in Portland. The local median household income is $90,919/yr, meaning the typical Portland household meets that threshold.

Is rent going up or down in Portland?

Rent in Portland has increased 1.5% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Portland neighborhoods have the lowest rent?

The most affordable ZIP codes in Portland are 97230 ($1,523/mo), 97218 ($1,546/mo), and 97216 ($1,556/mo). Citywide, the median rent in Portland is $1,721/mo.

How does Portland rent compare to other cities in Oregon?

Portland is middle-of-the-pack for Oregon for rent, ranking #38 out of 65 tracked cities at $1,721/mo.

Which nearby cities are cheaper to rent in than Portland?

Several nearby cities have lower median rents than Portland ($1,721/mo): Raleigh Hills ($1,652/mo), Milwaukie ($1,691/mo).

What percentage of Portland residents rent vs. own?

According to Census data, approximately 48% of Portland households are renters, while 52% are owner-occupied. Portland leans toward homeownership, which can mean a smaller rental inventory.

How does Portland rent compare to the national average?

Portland's median rent of $1,721/mo is $244 (12%) below the US national median of $1,965/mo. Within Oregon, it ranks #38 out of 65 tracked cities.
Income Affordability
23%
VERY AFFORDABLE

At $1,721/mo, rent takes ~23% of Portland's median household income ($90,919/yr). The standard benchmark is 30%.

Portland 23%Benchmark 30%
State income tax4.75–9.9%
Run the Portland affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Portland, OR

Recent submissions

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