8 Most Affordable Neighborhoods in Portland: Best Bang For Your Buck

When it comes to buying a home, everyone is looking for something different in the Portland real estate market. Some seek sprawling estates in the area's most expensive neighborhoods, while others prefer the convenience of Portland's walkable neighborhoods. Since Portland is one of the fastest-growing communities in the nation, there are a plethora of neighborhoods to choose from. With such a broad selection of communities, there are homes for sale in and around the city that match any preferences. Are you looking for the best homes within your budget? Keep reading to learn about the eight most affordable neighborhoods in Portland.

Bridgeton

Bridgeton is a little strip of land situated in the North Portland area. Resting against the Columbia River, the neighborhood faces Hayden Island and the boundary between Oregon and the city of Vancouver, WA. Bordered on the east by the I-5, the community covers the land between the river and N. Marine Drive to the south. Most of the community is centered around NE Bridgeton road and its cross streets.

As evident by the location, boating is one of the most popular activities in the region. With South Channel Marina, Columbia Way West, and the Portland Yacht Club, there are many places to serve as a headquarters for a home on the waters. However, several apartment buildings and streets full of single-family homes are also available. The community's western edge also has several hotel chains, including Courtyard Marriott and Fairfield Inn & Suites.

Renters moving to Bridgeton can expect to pay about $1709 each month. The neighborhood's population is about 4,000 people, making it among the smallest in the city. However, most residents are property owners, with just over a third being renters. Homes for sale in Bridgeton cost between $325,000 and $641,000.

Nob Hill

Part of the Northwest Portland area, Nob Hill is a small "L" shaped neighborhood outside the Downtown Portland neighborhood. The community is bordered on the north by US Route 30, and in the south at W Burnside St. Eastern and western barriers are mainly NW 20th Ave and NW 23rd Ave. Although the region is landlocked, it is only a few blocks away from the Fremont Bridge over the Willamette River.

As part of the central city, the neighborhood is relatively dense, with opportunities for shopping and dining. Legacy Good Samaritan Medical Center is a hospital in the area offering emergency care and long-term services. Those seeking delightful oddities may enjoy visiting the Freakybuttrue Peculiarium and Museum. Created in the late 1960s, the facility celebrates strange and exciting exhibits from all over the planet.

New residents to the neighborhood may want to start with rental properties, with monthly rents averaging $1,741 per month. Most Northwest area residents remain in a rental situation, with only about 30% choosing to own. Nob Hill real estate is mainly made up of condos, which cost between $150,000 and $429,000.

Hayden Island

Hayden Island is a neighborhood marked by its fantastic selection of affordable waterfront homes in Portland. The island's western end is almost entirely natural, although not formally designated as a park. The island's eastern side packs lots of hotspots into a small area. Visitors will find several hotels, including the Oxford Suites Portland. Boating is big business in the region, with options like X-treme Boat Rentals for those who want an afternoon of fun on the Columbia River.

Although there are areas for docking personal water vehicles, most people access the island via the I-5. The highway continues over the Columbia River and directly into Washington State. Because of its proximity to Vancouver, it is a popular destination for people from both states. However, the island boasts plenty of apartments, condominiums, and single-family homes for those who wish to stay.

Monthly rents for Hayden Island average about $1,723, and most properties are within about two blocks of the water. Hayden Island homes for sale often cost between $250,000 and $900,000. As this is an island, the area population is only about 2,378. This is one of the smallest communities within the city.

Goose Hollow

Goose Hollow neighborhood is another reasonably small community just west of the downtown area. It can be found in between the I-405 and the Portland Japanese Garden. W Burnside St creates the region's northern edge, with SW Montgomery St containing the southern portions.

Perhaps the most impressive feature of the community is Providence Park. As the home of the Portland Timbers, the park hosts both baseball and soccer games. First constructed in 1926, it is one of the oldest soccer arenas in the country. As expected, the area around the field is full of lots of bars and restaurants designed to help visitors make a full day of visiting the community.

Those that decide to stay in the community can expect to pay about $1,528 for monthly rent. Goose Hollow homes for sale typically cost between $200,000 and $715,000. Like most neighborhoods near downtown, Portland condos are the most prominent housing style here.

Lents

Located southeast of downtown Portland, Lents is a gem of the East Portland area. However, it is close enough to require only a five-minute commute into the central city. That makes it an excellent idea for those that want to live a little further away from the action. The area is centered around I-205, with US Route 26 to the northern edge. Oregon Route 213 forms the neighborhood's western boundary, with the eastern border being SE 111th Ave.

The neighborhood has many popular locations, with some of the best-loved green spaces. Lents Park is managed by the city and includes several exciting features. The Nature Patch is explicitly designed to create shared spaces between humans and the environment in a garden format. The park also contains a playground, soccer field, baseball field, picnic area, and tennis courts. Residents with furry friends will love the off-leash dog area and walking paths.

Beggars-Tick Wildlife Refuge is another outdoor option. The area is a designated wetland with a few popular paths for hiking.

Renting an apartment or house in the Lents has an average rate of $1334 per month, one of the lowest in the community. However, homes for sale in Lents cost between $350,000 and $670,000. Nearly 28,000 people live within the neighborhood, making it one of the largest in the metro area. Lents is also one of the best neighborhoods to find new construction homes in Portland.

St. Johns

Part of the northwestern edge of the community, St. Johns is bordered by green space on three sides. The region abuts the Smith and Bybee Wetlands Natural Area to the northeast. Managed by the state, the area is a great place to visit with nature, including opportunities to see beavers, deer, and bald eagles. Boating enthusiasts and hikers will find several possible routes to explore within the region.

The Northwest and Southwest borders of St Johns rest against Sauvie Island and Forest Park. The Willamette River immediately surrounds the community to the west and southwest. Within the neighborhood itself, there are two distinct regions. The northwest portion is filled with industrial facilities and distribution centers, including Evraz Oregon Steel Mills.

At the eastern end are the residential neighborhoods. Chimney Park and Pier Park are between the two regions, two urban parks including play areas and a walking path. Rents in St. Johns average about $1608 each month. With over 20,400 people living in the community, nearly 60% are homeowners. St. Johns homes for sale have prices that range from $325,000 and $600,000.

Brentwood-Darlington

The Brentwood-Darlington neighborhoods are southeast of downtown, with the eastern edge being Oregon Route 213. SE Duke and SE Clatsop Streets form the majority of the northern and southern borders. Unlike many of the regions on this list that are mixed zoned, this is primarily residential. That can be good news for those that do not want to live near traffic and commotion.

The region contains several green spaces, including Harney City Park and Brentwood City Park. Brentwood Park has over 14 acres of land and includes picnic tables, playgrounds, and a leash-free dog area. Although the community is primarily single-family homes, there are a few interesting venues. Mehri's Cafe and Bakery is a full-service restaurant featuring many exciting desserts and meals. Try the Baked Cinnamon Roll French Toast or the Prawn Scramble for breakfast.

Rents within this community are among the most affordable in the region, at $1,196 monthly. However, around 70% of residents in the neighborhood are in owner-occupied housing. Brentwood-Darlington real estate presents prices that range from $335,000 to $900,000. This is one of the larger populations at just over 17,300 people.

Montavilla

With its northeastern corner at the intersection of I-84 and I-205, Montavilla is a spacious neighborhood located east of Portland. I-205 runs along the eastern spine of the community, with I-84 creating the northern edge. SE 76th Ave and SE Division St create the western and southern boundaries.

The region is mainly residential, but it includes several retail and restaurants due to its sheer size. My Brother's Crawfish offers a great variety of seafood items, including seafood boils with lobster or crab. Utopia Restaurant and Lounge is the area hotspot for drinks with friends over delicious Vietnamese-inspired dishes.

Despite the neighborhood's large physical size, the population is just over 22,700 people. That reflects that most of the addresses are single-family homes with yards. But the percentage of owners is only 55%, meaning there is plenty of rental space as well. Montavilla homes for sale come at prices ranging from $300,000 to $700,000.

Find Affordable Homes in Portland Neighborhoods

Portland is the perfect example of a city with many quirky neighborhoods. Whether shopping in the heart of town or in the best suburbs of Portland, there's a property in every part of town to suit any budget. With a little bit of research, you can find the Portland home of your dreams without breaking the bank.