Cheap Apartments for Rent in the Homestead Neighborhood of Portland, OR from $600 (48 Rentals)

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

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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Park Avenue Gardens
Studio to 1 Bedroom Apartments

Park Avenue Gardens

2073 SW Park AvePortland, OR 97201
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WaterLane Apartments
1 Bedroom Apartments

WaterLane Apartments

3807-3811 SW Water AvePortland, OR 97239
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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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650 SW Sherman St
1 Bedroom Apartments

650 SW Sherman St

650 SW Sherman StPortland, OR 97201
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Hoodview Apartments
1 Bedroom Apartments

Hoodview Apartments

3300 SW Hood AvePortland, OR 97239
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Boathouse
Studio to 2 Bedroom Apartments

Boathouse

0444 SW Boundary StPortland, OR 97239
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The Allison
1 Bedroom Apartments

The Allison

3210 SW 12th AvePortland, OR 97239
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City's Edge
1 Bedroom Apartments

City's Edge

4210-4230 SW View Point TerPortland, OR 97239
Showing Results 1-48, Page 1 of 1

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 Koz on 4th priced from $912. The Fredrick has the second lowest priced unit, which is a Studio apartment currently listed from $1,000. Here are the most affordable Homestead apartments for rent in Portland, OR:

Apartment ListingModel NameBed/BathPriced From
Koz on 4thStudioStudio,1BA$912
The Fredrick0x1Studio,1BA$1,000
The AmyBurnsideStudio,1BA$1,095
Westfal ApartmentsOne Bedroom1BR,1BA$1,095
Park Avenue Gardens1 Bed 1 Bath1BR,1BA$1,099
WaterleafStudio-60%Studio,1BA$1,156
Sanctuary ApartmentsHamilton BStudio,1BA$1,181
Park PlazaStudioStudio,1BA$1,192
AcquaStudioStudio,1BA$1,199
TreeHouseStudioStudio,1BA$1,275

Best Value Apartments for Rent in Homestead, OR

As of March 27, 2025 the best value apartment in the Homestead area is the $2.30 price per square foot 3x1 Pettygrove Model at The Douglas in the in the Southwest Portland neighborhood starting from $3,150. The second greatest value Homestead apartment is the Three Bedroom Model at Marquam Heights starting at $2,810 with a $2.35 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.
The Douglas3x1 Pettygrove3BR,1BA$2.30
Marquam HeightsThree Bedroom3BR,2BA$2.35
The Matisse22F12BR,2BA$2.32
Downtown Living Starts At Lair Hill1x11BR,1BA$1.70
Hilltop House1 bedroom 1 bath large1BR,1BA$1.96
Park Avenue Gardens1 Bed 1 Bath1BR,1BA$1.64
Modern New Construction 1BR/1.0BA1BR,1BA$2.13
linc301 Apartments1x1 620 sq. ft. Hawthorne1BR,1BA$2.10
Westfal ApartmentsOne Bedroom1BR,1BA$1.83
WaterleafStudio-60%Studio ,1BA$2.02

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Pet Friendly Lifestyle
Homestead, Portland, OR

Ranked #45

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 $1,275.

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 $3,075.

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 $279 which is $2,796 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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.