South Waterfront

Portland, OR

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South Waterfront - Portland, OR

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High rises and higher education thrive along the Willamette River

Universities Riverfront Urban Parks Up-and-Coming

Portland’s South Waterfront is an up-and-coming neighborhood overlooking the Willamette River just moments from Downtown. Boasting high rise buildings and Oregon Health & Science University, the South Waterfront is a thriving riverfront destination for renters with proximity to other intellectual hubs such as Portland State University. Enjoy the perk of having a tramway, the South Waterfront Tram Terminal, for a quick ride above downtown with panoramic city views, along with the convenient proximity to Interstate 5 for commuting purposes.

South Waterfront is in the heart of Portland, so it’s great for renters looking to live in the inner city. Ross Island Bridge, a car-free bridge, is a beautiful site to see after dusk, and there are numerous community parks in this urban area. Elizabeth Caruthers Park is a beautiful green space offering bocce courts, a splash pad, local art, and scenic pathways. And for beautiful riverfront views along walking and biking trails, be sure to visit the South Waterfront Greenway!

Rent Trends

As of April 2025, the average apartment rent in South Waterfront is $1,506 for a studio, $1,933 for one bedroom, $3,199 for two bedrooms, and $5,718 for three bedrooms. Apartment rent in South Waterfront has decreased by -0.9% in the past year.

  • Studio

  • 567 sq ft

    Average Sq Ft

  • $1,506/month

    Average Rent

  • 1 BR

  • 745 sq ft

    Average Sq Ft

  • $1,933/month

    Average Rent

  • 2 BR

  • 1,190 sq ft

    Average Sq Ft

  • $3,199/month

    Average Rent

  • 3 BR

  • 1,704 sq ft

    Average Sq Ft

  • $5,718/month

    Average Rent

Transportation

83

Very Walkable

out of 100 WalkScore® Rating

If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.

75

Excellent Transit

out of 100 TransitScore® Rating

You’ll have excellent transit living in this area, with several nearby transit stops.

96

Biker's Paradise

out of 100 BikeScore® Rating

Do you prefer to get around on two wheels? You’ll love living in this neighborhood, which is considered a biker’s paradise.

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Methodology

† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.

Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.

Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.