I grew up in a suburb of Portland, went to UW in Seattle for 4 years, then moved back to Portland after graduating.
I slightly prefer Portland, but love Seattle as well.
People definitely underestimate the better weather in Portland, everyone just assumes Seattle/Portland have the same weather, but it's always 5-10* hotter here and you get about an extra month of decent weather (
http://cliffmass.blogspot.com/2012/0...e-is-cool.html).
Like Seattle, Portland is broke down into subsections that suit pretty much everyone's needs. I lived on NW 23rd for 2 years, then moved to NE to be closer to my golf club/get more space for the dog. Rent in our new apartment on NW 23rd was $2,400/mo for 2bed/2bath, rent in our brand new condo in NE is $1,725 for 1b/1bath, but it's higher end. You can definitely get decent 1 beds for ~1k. Both are great depending on your needs. NW if you want to be able to walk out your building and get anything you need or walk to bars/restaurants. Eastside if you want cheaper rent on average, but everything is more spread out.
If you don't care about being in the city and are considering suburbs, that changes a lot of your options.
Don't live in one of the coast towns, they are great for about 3 days, then you'd slowly go insane.
Tough to beat Portland though, less than 2 hrs to some of the best mountain resorts and the coast. Only 3 from Seattle/Bend. Great food/beer as mentioned of course, very young and liberal.