Back Bay Tower
401 Cumberland Ave,
Portland, ME 04101
1-3 Beds | $1,800 - $3,600
Rental Market Trends in Portland, ME
What is the average rent in Portland, ME?
$1,748/month
Average Rent
579 Sq Ft
Average Apartment Size
-0.7%
Decrease in the Last Year
As of December 2024, the average rent in Portland, ME is $1,748 per month. For comparison, the national average rent price in the US is currently $1,560/month, which means Portland rent prices are 12% higher than the national average. When you rent an apartment in Portland, you can expect to pay about $1,486 per month for a studio, $1,748 for a one-bedroom apartment, and around $2,133 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,650 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Portland, ME?
In the past year, rent has decreased by 0.7%, which averages out to $12 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Portland, ME
Last Updated December 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
7%
$700 - $1,000/month
41%
$1,001 - $1,500/month
34%
$1,501 - $2,000/month
17%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Portland?
Based on current rent prices, North Deering, Riverton and Valley Street are the most affordable neighborhoods in Portland.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Portland?
Based on current rent prices, Old Port, City Center and Libbytown are the most expensive neighborhoods in Portland.
Neighborhood
Average Rent
Average Sq Ft
Which Portland neighborhoods have the most rentals available?
The neighborhoods in Portland with the most apartments available are Downtown Portland, West Bayside and East Bayside-India Street .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Portland, ME?
Because the average rent in Portland is $1,748, you’ll want to make about $5,826 per month or $69,912 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Portland, ME compare to other nearby cities and neighborhoods?
Use the tool below to compare Portland, ME to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
-
One Bedroom
$1,238/month
$1,524/month
Two Bedroom
$1,580/month
-
Three Bedroom
$1,782/month
-
Nearby City Rent Trends
Apartment communities in Portland we think you'll love
Property Management Companies in Portland, ME
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985
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6
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Princeton Properties
-
29
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-
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SHP Management Corporation
-
21
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-
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Methodology
† 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.
* Percentages may not total 100 due to rounding.