Apartments Under $500 in Eugene, OR

  1. Home
  2. Eugene Apartments
  3. Apartments Under $500

Get your search on...
Apartments Under $500 in Eugene, OR

Search and browse 3313 apartments under $500 available for rent in Eugene, OR. With apartments that span the entire city, you will find an apartment in Eugene for just the right price. During your search, sort your favorite apartments under $500 by one of our listed amenities — covered parking, in-unit washer and dryer, a rooftop pool, a modern fitness center, an updated kitchen, energy efficient appliances, smart technology, online leasing, payments, and more. Want to tour a property? Schedule a tour online and you’ll be moving in to your new Eugene apartment before you know it.

Eugene:
August Rent Report

Welcome to the August 2020 Eugene Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the August 2020 key findings and figures for the Eugene rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Eugene and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Eugene rent prices in the chart below.

Monthly Rent Report

Eugene Rent Prices Decrease From July to August

Eugene rent prices decreased over the last month. From July to August, the city experienced a -0.48% decrease for the price of a one-bedroom apartment. The rent price for a Eugene one-bedroom apartments currently stands at $1,038.0.

When we take a look at the two-bedroom comparison from July to August, Eugene experienced a -1.53% decrease for the price of a two-bedroom apartment. The rent price for a Eugene two-bedroom apartments currently stands at $1,285.0.

August Prices: Eugene vs. Surrounding Areas

Rent Prices in Eugene and Surrounding Areas

Rent prices have decreased in Eugene over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 1 of the Eugene suburb increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Springfield, OR .

  • Rents did not decrease in any of the Eugene suburbs.

  • 1 suburb is currently priced lower than the city of Eugene.

August 2020 Pricing Trends: Eugene vs. National Comparisons

Eugene Rent Prices More Affordable Than Major Cities

Rent growth in Eugene over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Eugene rent prices appear to be relatively affordable for local residents.

The price for a Eugene one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

You can view the full rundown of ABODO's August 2020 National Apartment Report and data set here.

For more information about Eugene and surrounding area rent prices, take a look at the complete data set below.

Data set for Eugene and suburbs

1 BR August 1 BR M/M % Change 2 BR August 2 BR M/M % Change
Eugene, OR $1,043.0 -3.16% $1,305.0 -2.47%
Springfield, OR $973.0 0.52% $1,201.0 0.59%

Methodology

Each month, using over 1 million ABODO listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.