Cheap Apartments for Rent in Ames, IA from $400 (146 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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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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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property at 813 Delaware Ave

$935

Total Monthly Price

Total Monthly Price

Base Rent
$935
Total Monthly Price
$935

3 Bedroom, 1 Bath Townhome for Rent

Available Aug 1

813 Delaware Ave

AmesIA50014

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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Ames, IA Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Ames, IA

Pricing Updated: 05/07/2026

Current apartment rentals in the Ames, IA area range in price from $429 to $2,300 with an overall median price of $1,143. The three Ames neighborhoods with the lowest median rent pricing are Dauntless at $429, Fountainview at $429, and Grand Junction at $610. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Ames Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Dauntless$910$429125
Fountainview$920$429141
Grand Junction$950$6109
North Ames$950$429167
South Ames$955$429183
West Ames$969$429222
West Campus Village$969$429143
Downtown Ames$980$44587
East Ames$980$44537
Eagle Ridge$1,149$610102

Cheapest Available Ames Apartments for Rent

 

The cheapest available apartment rental in Ames, IA is a 2 Beds unit found at The Social West Ames Steinbeck in the Fountainview neighborhood priced from $529. Campus Flats in the Eagle Ridge neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $655. Here is today’s list of the most affordable Ames apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Social West Ames SteinbeckBeckett A - Station2BR,2BA$529
Campus Flats4 Bed - Rent by Room4BR,4BA$655
Copper Beech3BR/3BA3BR,3BA$660
Melrose Park Apartments1 Bed/1 Bath Apartment1BR,1BA$785
640 S. 4th St.640 S. 4th St. - Unit...1BR,1BA$785
Grandview Square Apartments2bed 1bth2BR,1BA$790
Hickory Ridge Apartments0 bed, 1 bathStudio,1BA$799
Western Hills Apartments1 Bed/1 Bath Apartment1BR,1BA$800
Somerset ApartmentsStudio ApartmentStudio,1BA$800

Best Value Apartments for Rent in Ames, IA

As of May 07, 2026 the best value apartment in the Ames area is the $1.02 price per square foot 3515 Lincoln Way ( 4 bdrm ) Model at Walnut Ridge in the in the Eagle Ridge neighborhood starting from $2,300. The second greatest value Ames apartment is the 3 Bed - Rent by Room Model at Campus Flats starting at $750 with a $0.66 price per square foot in the Eagle Ridge neighborhood. Here is today’s list of the best values for Ames apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Walnut Ridge3515 Lincoln Way ( 4 bdrm )4BR,3BA$1.02
Campus Flats3 Bed - Rent by Room3BR,3BA$0.66
The Madison3x3 Furnished3BR,3BA$0.55
The Social ReserveJasper Renovated - Reserve2BR,2BA$0.63
Grandview Square Apartments2bed 1bth2BR,1BA$0.79
1108 S. 4th Street3 Bed/ 1.5 Bath3BR,1.5BA$0.98
The Grove2BR/2BA2BR,2BA$0.77
Furman Western Hills2BR 2BA2BR,2BA$1.02
The Landing AmesB1 - 2x22BR,2BA$0.68
The Social West Ames SteinbeckBeckett A - Station2BR,2BA$0.71

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Ames Overview

Recently listed by CNNMoney as one of their 'best places to live', Ames is an inviting slice of American heritage that's ideal for both working class families and ambitious Twenty-somethings alike. Home to a number of places of higher learning as well as an assortment of other industry, this Iowa hotspot is a must-consider for anyone in the market for a great new spot to call home.

Why live in Ames, IA?

From the area university...which has produced Pulitzer Prize winners, astronauts and more...to the wide array of historic structures and stately homes lining the downtown area, Ames apartments make a fantastic place to live, work and play. Offering easy access to the nightlife and job market of nearby Des Moines, Ames maintains an intrinsic charm all its own.

Best Local Schools in
Ames, IA

School data provided by Great Schools

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

Explore Ames, IA Rentals by Map

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See the most popular apartments and homes in Ames, IA

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Frequently Asked Questions about Cheap Ames Apartments

What is a cheap apartment in Ames?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Ames is under $800.

What is the price of a cheap apartment in Ames?

The cheapest apartment in Ames is Melrose Park Apartments which is listed at $785, while the average apartment in Ames costs $1,143.

What types of apartments are the cheapest in Ames?

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 896 regular apartments in Ames 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 Ames?

Cheap apartments in Ames have an average cost of $604 which is $539 cheaper than the average rent for all rentals in Ames.

Expert Rental Resources

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.

Articles, How-To's, and Tips

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.