Cheap Apartments for Rent in the Homestead Neighborhood of Portland, OR from $800 (50 Rentals)

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

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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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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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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WaterLane Apartments
1 Bedroom Apartments

WaterLane Apartments

3807-3811 SW Water AvePortland, OR 97239
  • Utilities Included

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Water Meade Apartments
Studio to 1 Bedroom Apartments

Water Meade Apartments

103 S Meade StPortland, OR 97201
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Park Avenue Gardens
1 Bedroom Apartments

Park Avenue Gardens

2073 SW Park AvePortland, OR 97201
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650 SW Sherman St
1 Bedroom Apartments

650 SW Sherman St

650 SW Sherman StPortland, OR 97201
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Hillcrest style
2 Bedroom Apartments

Hillcrest style

3518 SW 11th AvePortland, OR 97239
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Hoodview Apartments
1 Bedroom Apartments

Hoodview Apartments

3300 SW Hood AvePortland, OR 97239
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City's Edge
1 Bedroom Apartments

City's Edge

4210-4230 SW View Point TerPortland, OR 97239

Portland’s Best Affordable Neighborhoods

Learn about Portland and the best places to live with original content written by our Portland, OR Local Expert Chad Deitchley

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The Allison
1 Bedroom Apartments

The Allison

3210 SW 12th AvePortland, OR 97239
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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 Modern New Construction priced from $975. Koz on 4th has the second lowest priced unit, which is a Studio apartment currently listed from $1,007. Here are the most affordable Homestead apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Modern New Construction 0BR/1.0BAStudio,1BA$975
Koz on 4thStudioStudio,1BA$1,007
The Fredrick0x1Studio,1BA$1,025
Park Avenue Gardens1 Bed 1 Bath1BR,1BA$1,099
MARQUAM MANOR APARTMENTS (MCM03)Studio ('01s,'02s,'03s,'04s,'08s,'09s)Studio,1BA$1,100
The AmyBurnsideStudio,1BA$1,150
Greenbriar VillageLarge One Bedroom1BR,1BA$1,170
Medina0BR/1.0BAStudio,1BA$1,175
The DouglasStudio IrvingStudio,1BA$1,203
WaterleafStudio-60%Studio,1BA$1,220

Best Value Apartments for Rent in Homestead, OR

As of July 12, 2025 the best value apartment in the Homestead area is the $2.17 price per square foot 2 bedroom 2 bath flat small Model at Sophia's View in the in the Southwest Portland neighborhood starting from $3,250. The second greatest value Homestead apartment is the Two Bedroom Model at The Woods on Marquam Hill starting at $2,375 with a $2.33 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 small2BR,2BA$2.17
The Woods on Marquam HillTwo Bedroom2BR,2BA$2.33
855 Southwest Broadway Drive, Unit Apt 23855 Southwest Broadway Drive2BR,1.5BA$2.44
Downtown Living Starts At Lair Hill1x11BR,1BA$1.82
Marquam Terrace ApartmentsTwo Bedroom 1 Bath2BR,1BA$2.42
Park Avenue Gardens1 Bed 1 Bath1BR,1BA$1.64
linc245 Apartments1x1 670 sq. ft. Columbia1BR,1BA$2.36
linc301 Apartments1x1 620 sq. ft. Hawthorne1BR,1BA$2.17
Greenbriar VillageLarge One Bedroom1BR,1BA$2.00
WaterleafStudio-60%Studio ,1BA$2.13

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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 #41

Among neighborhoods in Portland, OR 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 $1,220.

What is the price of a cheap apartment in Homestead?

The cheapest apartment in Homestead is Park Avenue Gardens which is listed at $1,099, while the average apartment in Homestead costs $2,746.

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 7 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 $161 which is $2,585 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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.