Cheap Apartments for Rent in the Homestead Neighborhood of Portland, OR from $600 (48 Rentals)
Search the lowest-cost Apartments available for rent right now in the Homestead area of Portland.

The Fredrick

Griffis South Waterfront

Westfal Apartments

1015 SW Woods St

Hillcrest Apartments

The Douglas
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

Sanctuary Apartments

Acqua

The Dylan

3507 SW 11th Ave

930 SW Gibbs St

Medina

TreeHouse

linc301 Apartments

The Emery

The Matisse

3512 SW 10th Ave

The Woods on Marquam Hill

3521-1019 SW 10th Ave

Harrison Tower Apartment Homes

3719 S Hood Ave

5703 S Corbett Ave

linc245 Apartments

Osprey
Homestead, Portland, OR Local Guide

How much does it cost to rent an apartment in Homestead?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Homestead Studio Apartments | $1,456 | $912 | $5,695 |
Homestead 1 Bedroom Apartments | $1,879 | $1,056 | $6,101 |
Homestead 2 Bedroom Apartments | $3,315 | $1,430 | $10,000+ |
Homestead 3 Bedroom Apartments | $3,899 | $1,678 | $7,270 |
Browse Apartments in this Neighborhood
There are currently 48 rentals with your search options within a 1 mile radius of the Homestead Neighborhood of Portland, OR.
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Homestead, Portland, OR Local Guide
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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 Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Koz on 4th | Studio | Studio,1BA | $912 |
The Fredrick | 0x1 | Studio,1BA | $1,000 |
The Amy | Burnside | Studio,1BA | $1,095 |
Westfal Apartments | One Bedroom | 1BR,1BA | $1,095 |
Park Avenue Gardens | 1 Bed 1 Bath | 1BR,1BA | $1,099 |
Waterleaf | Studio-60% | Studio,1BA | $1,156 |
Sanctuary Apartments | Hamilton B | Studio,1BA | $1,181 |
Park Plaza | Studio | Studio,1BA | $1,192 |
Acqua | Studio | Studio,1BA | $1,199 |
TreeHouse | Studio | Studio,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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
The Douglas | 3x1 Pettygrove | 3BR,1BA | $2.30 |
Marquam Heights | Three Bedroom | 3BR,2BA | $2.35 |
The Matisse | 22F1 | 2BR,2BA | $2.32 |
Downtown Living Starts At Lair Hill | 1x1 | 1BR,1BA | $1.70 |
Hilltop House | 1 bedroom 1 bath large | 1BR,1BA | $1.96 |
Park Avenue Gardens | 1 Bed 1 Bath | 1BR,1BA | $1.64 |
Modern New Construction | 1BR/1.0BA | 1BR,1BA | $2.13 |
linc301 Apartments | 1x1 620 sq. ft. Hawthorne | 1BR,1BA | $2.10 |
Westfal Apartments | One Bedroom | 1BR,1BA | $1.83 |
Waterleaf | Studio-60% | Studio ,1BA | $2.02 |
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Pet Friendly LifestyleHomestead, Portland, OR
Ranked #45
Among neighborhoods in Portland, OR for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
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.

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.

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.

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.

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.