Cheap Apartments for Rent in the Homestead Terrace Neighborhood of Phoenix, AZ from $600 (36 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Homestead Terrace area of Phoenix.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Indigo Pointe
2 to 3 Bedroom Apartments

Indigo Pointe

475 N 43rd AvePhoenix, AZ 85009
  • Utilities Included
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Rise Encore
Studio to 3 Bedroom Apartments

Rise Encore

5775 W Roosevelt StPhoenix, AZ 85043
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The Graybriar
1 to 2 Bedroom Apartments

The Graybriar

3810 N Maryvale PkwyPhoenix, AZ 85031

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Sol District
1 to 3 Bedroom Apartments

Sol District

6515 W McDowell RdPhoenix, AZ 85035

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Showing Results 1-36, Page 1 of 1

Homestead Terrace, Phoenix, AZ Local Guide

Cheapest Available Homestead Terrace Apartments for Rent

 

The cheapest available apartment rental in the Homestead Terrace area of Phoenix, AZ is a Studio unit found at Tides on 51st priced from $699. Paloma Village has the second lowest priced unit, which is a Studio apartment currently listed from $699. Here are the most affordable Homestead Terrace apartments for rent in Phoenix, AZ:

Apartment ListingModel NameBed/BathPriced From
Tides on 51stStudioStudio,1BA$699
Paloma VillageStudioStudio,1BA$699
Los Vecinos ApartmentsStudioStudio,1BA$700
Aspire West Phoenix2B11P31BR,1BA$729
Tides on McDowellStudioStudio,1BA$800
Cove on 44thA11BR,1BA$925
Streamliner 67thStudioStudio,1BA$937
Desert WindSTOP FIGHTING OVER THE THERMOSTAT! CONTROL YOUR...1BR,1BA$949
Glenrosa ParkA11BR,1BA$950
Gran Jardin Apartments2BR/1.0BA2BR,1BA$950

Best Value Apartments for Rent in Homestead Terrace, AZ

As of June 14, 2026 the best value apartment in the Homestead Terrace area is the $1.14 price per square foot L2AC50RC Model at Rancho Cielo in the in the South Phoenix neighborhood starting from $1,140. The second greatest value Homestead Terrace apartment is the Two Bedroom, Two Bathroom Model at Aspire Desert West starting at $1,249 with a $1.31 price per square foot in the Maryvale neighborhood. Here is today’s list of the best values for Homestead Terrace apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Rancho CieloL2AC50RC2BR,2BA$1.14
Aspire Desert WestTwo Bedroom, Two Bathroom2BR,2BA$1.31
Casa Sol?1ST MONTHS RENT FOR FREE?2BR,2BA$1.53
Sol DistrictA1S1BR,1BA$1.24
Rise EncoreB1 Platinum2BR,2BA$1.68
Morada WestLaverna1BR,1BA$1.58
Stonybrook ApartmentsA2 Premier1BR,1BA$1.48
Glenrosa ParkA11BR,1BA$1.41
Gran Jardin Apartments2BR/1.0BA2BR,1BA$1.43
Portola West McDowellDahlia1BR,1BA$1.60

A Phoenix Expert's Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon

Working at a top Phoenix employer? Get the inside scoop on renting apartments in nearby neighborhoods like Encanto, Coronado, Riverside, and South Mountain Village for a great life and easy commute.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Expert's Guide to the Top Neighborhoods in Phoenix, AZ for College Renters

A Local Experts Guide to The 10 Best Neighborhoods Near Universities and Colleges in the Phoenix metro area for affordable living. Find your perfect Phoenix apartment, condo, or rental home today at ApartmentHomeliving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Best Local Schools in
Homestead Terrace, Phoenix, AZ

School data provided by Great Schools

Lifestyle Ratings

This website is happy to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, including Phoenix. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, places to raise kids, raising pets, transit options, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Homestead Terrace Apartments

What is a cheap apartment in Homestead Terrace?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Homestead Terrace is under $950.

What is the price of a cheap apartment in Homestead Terrace?

The cheapest apartment in Homestead Terrace is Aspire West Phoenix which is listed at $729, while the average apartment in Homestead Terrace costs $6,825.

What types of apartments are the cheapest in Homestead Terrace?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 50 regular apartments in Homestead Terrace that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Homestead Terrace?

Cheap apartments in Homestead Terrace have an average cost of $384 which is $6,441 cheaper than the average rent for all rentals in Homestead Terrace.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ

Written by: Andrew Jollett

I'm Andrew, your ApartmHomeLiving.com local expert for Phoenix. My earliest memories of Phoenix date back to the mid-2000s when 2 of my sisters moved there (one for work and the other for school).

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Experts Guide to the Top Neighborhoods in Phoenix, AZ for College Renters

Written by: Andrew Jollett

I never attended school in Phoenix. While living there for some time, I often longed to join in on the fun and adventure I saw students from a number of colleges in the area.

decorative image for A Phoenix Experts Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon article

A Phoenix Experts Relocation Guide: Best Neighborhoods to Rent Near Banner, ASU, & Amazon

Written by: Andrew Jollett

Phoenix has long been one of the fastest-growing metros in the United States. When I think about how much I’ve seen it change over the years, it’s no wonder so many young professionals flock to the area every year.

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New to Phoenix? Your Essential Guide to Top Neighborhoods, City Life and Transit Options

Written by: Andrew Jollett

Hi everyone! My name is Andrew, and I’m your local ApartmentHomeLiving.com guide for the greater Phoenix area. Today, I want to take you on an insider’s tour of the area.

Articles, How-To's, and Tips

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.