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We've got a portable one in our bedroom. It does the job, but if you have the choice - for the same price and noise factor (perhaps slightly less), I'd go for an old fashion box unit in the window. This is of course assuming you only want to spend around $5-600, a small split system for around...

Biggest factor is comparable rentals in the area. If every property has a/c except yours, guess which will be the last to be let out? May even be you don't get a premium for having a/c but a lower rental price because you don't have one. I know I wouldn't rent a place without one.