How Much Is Rent in Portland, OR? (2026)

Updated September 2026. Based on Apartment List's August 2026 rent estimates, Vacancy Index, and time-on-market data.

Apartment List's Rent Index estimates Portland's median monthly rent at $1,561 in August 2026, with one-bedrooms at $1,418 and two-bedrooms at $1,682. These bedroom-specific figures give you a starting point for comparing apartments in the areas you're considering.

Portland's overall median rent in August 2026 was 1.2% lower than a year earlier but 3.4% higher than in January 2026, according to Apartment List's estimates. Below, compare nearby cities, see how prices and availability have changed, and explore what Portland's seasonal patterns could mean for your moving date.

How Much Is Rent in Portland Right Now?

Median Monthly Rent, Portland and U.S., August 2026

Source: Apartment List Rent Index and Portland rent report, August 2026.

Falling rents can still be above national levels. In August 2026, Portland's median was higher than the U.S. median overall and for both bedroom counts shown, according to Apartment List. These figures estimate the median rent on new leases across the whole city, so compare the listings you're considering with the median for your bedroom count rather than expecting them to match it.

Are Rents in Portland Going Up or Down Right Now?

It depends on where you start counting. Compared with a year ago, Portland's overall median rent was down 1.2% in August 2026; compared with January, it was up 3.4%; compared with July, it barely moved, according to Apartment List's estimates.

Each comparison ends in August 2026. January's median was lower, while the previous August's was higher. That is how Portland rents can rise during the year while remaining below their year-earlier level.

Is Rent in Portland Still Lower Than Last Year?

Yes, and it has been for 17 months running. August 2026 was the 17th consecutive month in which Portland's overall median rent came in below the same month a year earlier, in Apartment List's estimates; the run began in April 2025.

The 2026 months show the winter low and the recovery from it. According to Apartment List's estimates, Portland's overall median fell to $1,510 in January 2026, its lowest point since the September 2022 peak, and rose to $1,561 by August, while every month stayed below its year-earlier level.

Portland Median Monthly Rent and Year-over-Year Change, January to August 2026

Source: Apartment List analysis of its monthly rent estimates, overall median, August 2026 data release.

The four months before that were the fall decline. Portland's overall median fell from $1,565 in September to $1,516 in December 2025, according to Apartment List's estimates, and ran 1.2% to 1.7% below year-earlier levels.

Portland Median Monthly Rent and Year-over-Year Change, September to December 2025

Source: Apartment List analysis of its monthly rent estimates, overall median, August 2026 data release.

How Much Have Portland Rents Dropped From Their High?

About $111 a month, or 6.6%. Portland's overall median rent peaked at $1,672 in September 2022 and stood at $1,561 in August 2026, according to Apartment List's analysis of its monthly rent estimates.

Apartment List's national research identifies new apartment construction as a contributor to the nationwide rent decline. That is context for Portland; the local rent, vacancy, and listing-time figures on this page do not establish what caused Portland's decline.

When Is the Best Time of Year to Rent in Portland?

Fall and winter, if price matters most. Leasing activity peaks in summer, when the most apartments turn over and rents rise fastest, and slows through fall and winter, when rents ease, according to Apartment List's research. Portland's overall median rent ended January below the previous September in all nine fall-to-winter periods from 2017-18 through 2025-26, by 1.1% to 4.5%, according to Apartment List's analysis of its monthly estimates; the most recent decline was 3.5%, from September 2025 to January 2026.

Do Apartments Rent Faster in Summer or Winter in Portland?

Summer, by about two weeks. Averaging each month's median listing time across 2019 to 2025, apartments that leased in February had been on the market about 39 days, against about 26 for those leased in August and September, according to Apartment List's analysis of its Portland time-on-market data. February's median exceeded September's in every one of those years.

Portland Seasonal Listing Times, 2019 to 2025

Source: Apartment List analysis of its time-on-market data, Portland city, 2019 to 2025.

Those figures describe apartments that already leased. For a place you are considering now, ask about its available move-in date and application timeline.

Where Is Rent Cheaper Near Portland?

Gresham. It had the lowest overall, one-bedroom, and two-bedroom median rents of the nine Portland-area cities compared here in August 2026, according to Apartment List. Beaverton ($1,396) was the only other city with a lower one-bedroom median than Portland's $1,418.

Median Monthly Rent in Nine Portland-Area Cities, August 2026

Source: Apartment List rent estimates, August 2026. Each row covers that city's own boundaries.

A higher citywide median doesn't necessarily mean higher rent for the apartment size you need, because the overall median pools every apartment size while the bedroom medians describe separate groups. Beaverton shows the difference: its overall median was higher than Portland's, but its one- and two-bedroom medians were slightly lower, by $22 and $7.

Beaverton is west of Portland, Gresham is east, and Vancouver is across the Columbia River in Washington. Whether a lower rent works for you also depends on where you need to go regularly.

Is It Hard to Find an Apartment in Portland Right Now?

A smaller share of apartments was available in Portland buildings covered by Apartment List's Vacancy Index in August 2026 than a year earlier. Median listing time was roughly unchanged. The available share was 6.16%, down from 6.73% in August 2025, and Portland apartments leased in August 2026 had been listed for a median of 32.3 days, compared with 31.2 days a year earlier, according to Apartment List's time-on-market data.

Listing Time and Available Share, Portland and U.S., August 2025 and August 2026

Source: Apartment List, time-on-market data and Vacancy Index, August 2026.

The available share measures how much of the covered stock is listed, while listing time describes apartments that already leased, so a lower available share can coexist with roughly unchanged leasing times.

Find a Portland Apartment That Fits Your Search

Use Apartment List's August 2026 medians for Portland, $1,418 for a one-bedroom and $1,682 for a two-bedroom, to set a price benchmark, then compare what apartments in that range actually offer.

For example, a Portland two-bedroom listed at $1,850 would be $168 above Apartment List's August 2026 two-bedroom median of $1,682. Its condition, location, lease terms, required monthly charges, and included utilities can help you judge whether that difference is worthwhile.

If your moving date is flexible, include fall and winter listings in your search; if it is fixed, compare the apartments available when you need to move.

Build a shortlist of places that meet your needs and compare their total monthly costs side by side. That gives you a practical next step: deciding which apartments deserve a tour and what to ask before applying.

Explore apartments in Portland

For help fitting rent into your broader budget, see our Portland cost of living guide.

Sources and Methodology

Rent, vacancy, and listing-time figures on this page come from Apartment List's August 2026 data release, published in September 2026. Earlier months are shown as revised in that release.

Data Sources and Calculation Methods Behind This Page

All three data series are published on Apartment List's data and rent estimates page.

Frequently Asked Questions About Portland Rent

What Is the Average Rent in Portland, OR?

Apartment List's Rent Index puts Portland's median rent at $1,561 in August 2026 across all apartment sizes, and $1,418 for a one-bedroom. Apartment List reports the median, the midpoint of new-lease rents signed in the month, so a figure another source labels an average rent is not directly comparable.

How Much Do You Need to Earn to Afford Rent in Portland?

To keep Apartment List's August 2026 Portland median rent of $1,561 within 30% of gross income, the HUD affordability standard, a household would need about $62,000 a year; the $1,418 one-bedroom median needs about $57,000 and the $1,682 two-bedroom median about $67,000. Those figures cover rent alone, so utilities and other housing costs need additional room in the budget. For the broader budget, see our Portland cost of living guide.

How Much Has Rent in Portland Gone Down in the Past Year?

About $19 a month. Apartment List's estimates put Portland's overall median rent at about $1,580 in August 2025 and $1,561 in August 2026, a decrease of 1.2%.

Has Rent in Portland Stopped Falling?

Compared with a year earlier, no. August 2026 was the 17th consecutive month in which Portland's overall median rent came in below the same month of the previous year, according to Apartment List's estimates; the gap narrowed to 0.4% in May 2026, then widened to 1.3% in July and 1.2% in August. Within the year, the median rose 3.4% from January to August 2026; over the same months of 2025 it rose 3.7%, then fell in each month from September through December.

How Much Has Rent in Portland Gone Up Since 2020?

Barely. Compared with March 2020, Portland's median rent was 1.1% higher in August 2026, while the national median was 19.7% higher, according to Apartment List, in dollar terms without adjusting for inflation. Portland's small net change includes a rise to its September 2022 peak of $1,672 and the decline since; the August 2026 median of $1,561 was close to its August 2019 level of about $1,557.

What Is the Difference Between Portland City and Portland Metro Rent?

The city figure covers the City of Portland, Oregon; the metro figure covers the Portland-Vancouver-Hillsboro metro area, which spans Oregon and Washington and includes the city. In August 2026, according to Apartment List's estimates, Portland's overall median of $1,561 was 5.8% below the metro's $1,657, while its one-bedroom median was 1.5% below the metro's and its two-bedroom median 1.1% above. Because the metro figure includes the city, it says nothing on its own about what any one surrounding city costs.