Cheap Apartments for Rent in Allison, IA from $500 (22 Rentals)

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Search the lowest-cost Apartments available for rent right now in Allison.

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Meadow Ridge Apartments
1 to 3 Bedroom Apartments

Meadow Ridge Apartments

765-791 Russell RdWaterloo, IA 50701
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Le Chateau
1 to 2 Bedroom Apartments

Le Chateau

733-747 Russell RdWaterloo, IA 50701
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1637 Carriage Hill
2 Bedroom Apartments

1637 Carriage Hill

1637 Carriage Hill DrWaterloo, IA 50701
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Westwood Apartments
2 Bedroom Apartments

Westwood Apartments

3270-3320 W 4th StWaterloo, IA 50701
  • Utilities Included

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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.

Allison, IA Local Guide

Cheapest Available Allison Apartments for Rent and Nearby

 

The cheapest available apartment rental in Allison, IA is a 4 Beds unit found at Residences on College Hill in the Downtown Cedar Falls neighborhood priced from $295. Russell Lamson in the Downtown Waterloo neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $675. Here is today’s list of the most affordable Allison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Residences on College HillPrivate Bedroom in a 4BR Unit-Furnished Common ...4BR,1BA$295
Russell LamsonStudioStudio,1BA$675
Pheasant Hollow Apartments2 Bed 1 Bath - 1274 Sq. Ft.2BR,1BA$705
Gold Falls Villa Apartments1 BR/ 1 Bath1BR,1BA$720
Le Chateau1BR/1.0BA1BR,1BA$725

Best Value Apartments for Rent in Allison, IA and Nearby

As of August 29, 2025 the best value apartment in the Allison area is the $0.61 price per square foot 3 Bed 1 Bath Model at Pheasant Hollow Apartments in the starting from $850. The second greatest value Allison apartment is the 3 BR/ 1 BA Model at 1224-1282 W Mullan Ave starting at $775 with a $0.70 price per square foot in the Downtown Waterloo neighborhood. Here is today’s list of the best values for Allison apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Pheasant Hollow Apartments3 Bed 1 Bath3BR,1BA$0.61
1224-1282 W Mullan Ave3 BR/ 1 BA3BR,1BA$0.70
Whispering Meadows CondominiumsTwo Bedroom w/Attached Garage2BR,2BA$1.20
Pineview Place Apartments2 Bedroom/1 Bath2BR,1BA$1.03
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.00
2557 W 3rd St2 BR/ 1 BA2BR,1BA$1.18
Residences on College HillLuxury 4-Bedroom 1-Bath Apartment!4BR,1BA$1.11
1150 Home Park Blvd2BR/1.0BA2BR,1BA$1.09
University Manor1 BR/ 1 BA (Sept '25 )1BR,1BA$1.26
Le Chateau1BR/1.0BA1BR,1BA$1.20

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Getting Around Allison, IA

Walk Score®

7 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

34 / 100

Somewhat Bikeable

Minimal bike infrastructure

Frequently Asked Questions about Cheap Allison Apartments

What is the Cheapest Studio apartment in Allison?

Currently the most affordable Cheap Studio Apartment in Allison is at Russell Lamson listed at $675.

How much is rent for a Cheap One Bedroom Allison Apartment?

The lowest price for a Cheap One Bedroom Allison Apartment is $295 at Residences on College Hill.

What is the lowest price for a Cheap Two Bedroom Allison Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Allison is starting from $525 at Residences on College Hill.

What is the most affordable Allison Three Bedroom Apartment?

The best deal on a cheap Allison Three Bedroom Apartment rental is at 1224-1282 W Mullan Ave and starts from $775.

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.