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?
$1,754/month
Average Rent
579 Sq Ft
Average Apartment Size
+0.4%
Increase in the Last Year
As of February 2025, the average rent in Portland, ME is $1,754 per month. For comparison, the national average rent price in the US is currently $1,557/month, which means Portland rent prices are 13% higher than the national average. When you rent an apartment in Portland, you can expect to pay about $1,470 per month for a studio, $1,754 for a one-bedroom apartment, and around $2,148 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,741 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 increased by 0.4%, which averages out to $7 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated February 2025
Legend
2024
2025
Rent Ranges in Portland, ME
Last Updated February 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
6%
$700 - $1,000/month
41%
$1,001 - $1,500/month
37%
$1,501 - $2,000/month
16%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Portland?
Based on current rent prices, Valley Street, Oakdale and North Deering 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, City Center, West End and West Bayside 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 $1,754, you’ll want to make about $5,846 per month or $70,152 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.
Cost of Living
The cost of living in Portland, ME is 10.7% higher than the national average. Generally, housing in Portland is 22.4% more expensive than the national average, with rent falling between $1,470 - $2,741. You can expect to pay 2.1% more for groceries, 7.6% more for utilities, and 8.2% more for transportation.
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
$988/month
$1,509/month
One Bedroom
$949/month
$1,824/month
Two Bedroom
$1,119/month
$2,307/month
Three Bedroom
-
-
Nearby City Rent Trends
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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.