Right in the middle of my crush on Portland, the New York Times sends the "frugal traveler", Matt Gross, to the City of Roses to see what all the fuss is about. What he finds is cheap digs, lots of good food(and Coffee) and a whole lot of bikes.
He found the kind of hotel that I love. The Ace is European style hotel with rooms costing only $75 a night. Plus bikes are provided free of charge to guests! If you don't want the cheap bike, you could also rent a Batavus from Clever Cycles for $100/week. I'm going to keep this article handy for my next trip to Portland.