36

Studio Apartments for Rent in Portland, ME

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  • /55

    Starting at $2,029 Per Month

    • Studio - 2 Beds

    52 Hanover St, Portland, ME 04101

    Now open! The Armature features 171 modern apartments that draw inspiration from its industrial setting. The Armature offers a variety of spacious studios, one-bedrooms, one-bedroom + offices, two-bedrooms, and two-bedroom + offices throughout its eight floors. Experience an unmatched residential experience complete with high-end finishes, smart home build-ins, private balconies (select units),

    The Armature

    52 Hanover St, Portland, ME 04101
  • /45

    Starting at $2,290 Per Month

    • Studio - 1 Bed

    201 Federal St, Portland, ME 04101

    Discover elevated downtown Portland living at The Casco—Maine's tallest residential tower featuring an 18th-floor Ocean-View lounge, Modern Designer Interiors, In-Unit Laundry, and unbeatable Walkability in the Heart of the Old Port.Step outside and you're in the heart of it all. J's Oyster Co., Eventide, and Fore Street are steps away. Catch a movie at the Nickelodeon, then grab drinks at Cuties

    The Casco

    201 Federal St, Portland, ME 04101
  • /35

    Starting at $2,331 Per Month

    • Studio - 1 Bed

    144 State St, Portland, ME 04101

    Live in Portland's premier West End community at Nightingale—an upscale, fully renovated landmark, Mercy Hospital, offering all-utilities-included living, stunning Casco Bay views, co-working suites, fitness and yoga/barre studio, and walkable access to the Arts District and Old Port. Modern Units feature stainless steel appliances, granite countertops and In Unit Laundry. At the nexus of

    Nightingale

    144 State St, Portland, ME 04101
  • /35

    Starting at $1,700 Per Month

    • Studio - 1 Bed

    117 Preble St, Portland, ME 04101

    Now's the perfect time to make 117 Lofts your new home! Studios start at just $1,495, and 1-bedroom apartments are available from $1,600. Contact us now to schedule your tour and secure your new space today!

    117 Lofts

    117 Preble St, Portland, ME 04101
  • /25

    Starting at $2,627 Per Month

    • Studio

    46 Market St, Portland, ME 04101

    Charming Loft-Style Studio in the Heart of Portland's Old PortExperience the best of downtown Portland living from this charming loft-style studio apartment, perfectly situated in the heart of the historic Old Port district. Surrounded by cobblestone streets, waterfront views, award-winning restaurants, local boutiques, galleries, breweries, and coffee shops, this prime location puts

    46 Market St, Portland, ME 04101
  • /18

    Starting at $1,556 Per Month

    • Studio - 1 Bed

    643-649 Congress St, Portland, ME 04101

    Our apartments at 645 Congress offer the ultimate urban living experience in downtown Portland, Maine. Fifty-six large studio and one-bedroom apartments are situated in a vibrant neighborhood.Located between Longfellow Square and Congress Square, Portland’s thriving Arts District encompasses restaurants, galleries, performance venues, local shops, working art studios, hotels, and the

    645 Congress Apartments

    643-649 Congress St, Portland, ME 04101
  • /22

    Starting at $1,875 Per Month

    • Studio

    1006 Congress St, Portland, ME 04102

    JM REAL ESTATE REPRESENTS MULTIPLE APARTMENT BUILDINGS IN PORTLAND MAINE: THIS POSTING REFERS TO RENTAL UNITS LOCATED AT:-1006 CONGRESS STREET PORTLAND, ME 04102-50 MONUMENT SQUARE PORTLAND, ME 04101**WHEN INQUIRING: PLEASE SPECIFY IF YOU ARE INTERESTED IN 50 MONUMENT SQUARE OR 1006 CONGRESS STREET. PLEASE READ THE DESCRIPTION OF EACH BUILDING AS AMENITIES DIFFER AT EACH

    JM Real Estate Portland Rentals

    1006 Congress St, Portland, ME 04102

Why Live in Portland

Portland's historic Old Port district features cobblestone streets lined with local shops and working waterfront views. The Eastern Promenade provides scenic walking paths overlooking Casco Bay and its islands, while the iconic Portland Head Light lighthouse stands guard at nearby Fort Williams Park. Food lovers flock to acclaimed restaurants like Eventide Oyster Company for their brown butter lobster rolls and Fore Street for locally-sourced fine dining featured on Anthony Bourdain's shows. The arts scene thrives with the Portland Museum of Art's modern collections and Victoria Mansion's preserved 19th-century architecture. Outdoor recreation includes kayaking Casco Bay, cycling the Back Cove trail on Baxter Boulevard, and exploring Peaks Island by bike.

The median sale price for homes in Portland is $580,000. Single-family homes in the West End command a median price of $1,550,000, while Back Cove's median is $687,500. Downtown Portland one-bedroom condos have a median price of $542,500, with two-bedrooms at $971,300. The East End sees median condo prices of $498,500 for one-bedrooms and $807,500 for two-bedrooms.

Living costs run 12.6% above the national average. A family with school-age children needs $119,000 annually to live comfortably, including $38,000 for housing and $19,000 for groceries. Cumberland County's property tax rate is 1.11%, while Maine's state income tax is 7.15% on $76,320 earnings. The state sales tax rate is 5.50% with no additional local taxes. Gasoline costs $3.305 per gallon. Private schools like Waynflete School serve multiple neighborhoods with A+ ratings, while Frank H. Harrison Middle School ranks among the top public options. The University of Southern Maine maintains its main campus in Portland.

Frequently Asked Questions

How much does it cost to rent a home in Portland, ME?
The median rent for a home in Portland, ME is $2,400 per month, though prices vary by neighborhood, size, and property type. As of July 2026, townhouses tend to be the most affordable option while condos and single-family homes are currently more expensive.
How much do you need to make to afford rent in Portland, ME?
To comfortably afford the median rent in Portland, ME, a household needs to earn roughly $96,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,400 per month in Portland, ME, renters typically need to show $7,200 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Portland, ME?
In Portland, ME, the price-to-rent ratio is 20.0, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
7
Median Rent
$2,400
Median Single Family Home Rent
$3,250
Median Townhouse Rent
$2,134
Median Condo Rent
$2,400
How to Rent a Home