Cheap Apartments for Rent in the Homestead Neighborhood of Portland, OR from $800 (54 Rentals)

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

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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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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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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Hillcrest style
Studio to 2 Bedroom Apartments

Hillcrest style

3518 SW 11th AvePortland, OR 97239
  • Utilities Included
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Curry Court Apartments
Studio Apartments

Curry Court Apartments

11 SW Curry StPortland, OR 97239
Student Housing
  • Utilities Included
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WaterLane Apartments
1 to 2 Bedroom Apartments

WaterLane Apartments

3807-3811 SW Water AvePortland, OR 97239
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Lair Hill
Studio to 2 Bedroom Apartments

Lair Hill

3030-3032 SW Fourth AvePortland, OR 97201
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Water Meade Apartments
Studio to 2 Bedroom Apartments

Water Meade Apartments

103 S Meade StPortland, OR 97201
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Hoodview Apartments
Studio to 2 Bedroom Apartments

Hoodview Apartments

329 S Whitaker StPortland, OR 97239
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MacAdam Apartments
Studio to 2 Bedroom Apartments

MacAdam Apartments

5885 SW Macadam AvePortland, OR 97239
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650 SW Sherman St
Studio to 1 Bedroom Apartments

650 SW Sherman St

650 SW Sherman StPortland, OR 97201
  • Utilities Included
  • Smoke Free
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La Stella Apartments
Studio to 2 Bedroom Apartments

La Stella Apartments

3535 SW Corbett AvePortland, OR 97239

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Homestead, Portland, OR Local Guide

Cheapest Available Homestead Apartments for Rent

 

The cheapest available apartment rental in the Homestead area of Portland, OR is a Studio unit found at Hillcrest style priced from $925. Koz on 4th has the second lowest priced unit, which is a Studio apartment currently listed from $932. Here are the most affordable Homestead apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Hillcrest styleStudioStudio,1BA$925
Koz on 4thStudioStudio,1BA$932
The AmyBurnsideStudio,1BA$950
WaterleafStudio-60%Studio,1BA$999
Acqua Apartments - Student AffordableStudioStudio,1BA$1,005
The Fredrick0x1Studio,1BA$1,025
Westfal ApartmentsOne Bedroom1BR,1BA$1,095
Hoodview Apartments0BR/1.0BAStudio,1BA$1,100
MARQUAM MANOR APARTMENTS (MCM03)Studio ('01s,'02s,'03s,'04s,'08s,'09s)Studio,1BA$1,175
The DouglasStudio IrvingStudio,1BA$1,177

Best Value Apartments for Rent in Homestead, OR

As of November 07, 2025 the best value apartment in the Homestead area is the $2.17 price per square foot 2 bedroom 2 bath flat large Model at Sophia's View in the in the Southwest Portland neighborhood starting from $3,490. The second greatest value Homestead apartment is the 131 SW Hooker St Model at 131 SW Hooker St, Unit 131 starting at $2,175 with a $1.98 price per square foot in the Southwest Portland neighborhood. Here is today’s list of the best values for Homestead apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sophia's View2 bedroom 2 bath flat large2BR,2BA$2.17
131 SW Hooker St, Unit 131131 SW Hooker St2BR,1BA$1.98
3022 SW 12th Ave, Unit 30223022 SW 12th Ave2BR,1BA$1.75
Town and Country Apartments2BR/1.0BA2BR,1BA$1.78
Hilltop House Apartments1 bedroom 1 bath large1BR,1BA$1.96
Modern New Construction 1BR/1.0BA1BR,1BA$1.94
The Matisse01F1Studio ,1BA$2.11
linc301 Apartments1x1 620 sq. ft. Hawthorne1BR,1BA$2.11
Westfal ApartmentsOne Bedroom1BR,1BA$1.83
WaterleafStudio-60%Studio ,1BA$1.74

The Portland Power Commute: Top Neighborhoods for Renters Near the City’s Major Job Hubs

Balance work and life in Portland. Explore the neighborhoods for renting that offer great amenities and quick commutes to the city's top major employers. Find your Portland apartment today!

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Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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A Local Experts Guide To the Best Student Friendly Neighborhoods to Rent Near Colleges in Portland

A Local Experts guide to the Best Student Friendly Neighborhoods Near Colleges in the Portland area. Find your perfect Student apartment, condo, or rental home today

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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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Pet Friendly Lifestyle
Homestead, Portland, OR

Ranked #40

Among cities in Oregon for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals and neighborhoods across the USA, including Portland. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for easy access to the parks, luxury amenities, pet-friendly features, family-friendliness, proximity to transit, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Homestead Apartments

What is a cheap apartment in Homestead?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Homestead is under $1,177.

What is the price of a cheap apartment in Homestead?

The cheapest apartment in Homestead is Westfal Apartments which is listed at $1,095, while the average apartment in Homestead costs $7,215.

What types of apartments are the cheapest in Homestead?

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 18 regular apartments in Homestead 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?

Cheap apartments in Homestead have an average cost of $194 which is $7,021 cheaper than the average rent for all rentals in Homestead.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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A Portland Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent

Written by: Chad Deitchley

As your ApartmentHomeLiving.com Local Expert for Portland, Oregon, I’d like to briefly introduce myself. My name is Chad, and I come to the ApartmentHomeLiving.com team after living in Portland for decades.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.