Rachel and Bob's Purple House PDX is an absolutely wonderful studio at an unbeatable price. I went to Portland recently for my first vacation in almost a year and I was NOT disappointed! I didn't have the chance to meet Bob, but Rachel was communicative, welcoming, and extremely warm. We walked through the apartment when I arrived and she answered all of my questions and then left me to my own devices with a plate of cheese and crackers and a bottle of wine to say hello. The space was open and well furnished and extremely comfortable. They're right about it being almost soundproof! I spent a good amount of time on the small balcony (which has some fantastic views, although it IS right out snuggled up against nature, so expect some critter friends) and I couldn't hear anything through the doors, even though I had the radio on somewhat loudly. The area is hilly, so bear that in mind if you decide to walk anywhere, but there's a deli, convenience store, bar, and several restaurants an easy five to ten minute walk away.
If you're planning on spending a lot of time downtown, or commuting back and forth, this might not be for you. But for the recreational traveler, I can't think of a better place to stay.