Cheap Apartments for Rent in the Downtown Ames Neighborhood of Ames, IA from $400 (12 Rentals)

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

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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520 5th St
1 Bedroom Apartments

520 5th St

520 5th StAmes, IA 50010
  • Utilities Included
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514-520 Carroll Ave
1 Bedroom Apartments

514-520 Carroll Ave

514-520 Carroll AveAmes, IA 50010
  • Smoke Free

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.

Downtown Ames, Ames, IA Local Guide

Cheapest Available Downtown Ames Apartments for Rent

 

The cheapest available apartment rental in the Downtown Ames area of Ames, IA is a 1 Bed unit found at Maplewood priced from $625. Grandview Square Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here are the most affordable Downtown Ames apartments for rent in Ames, IA:

Apartment ListingModel NameBed/BathPriced From
Maplewood1108 S 4th Street: Maplewood - 1 Bed/ 1 Bath (e...1BR,1BA$625
Grandview Square Apartments1 bedroom 1 bath1BR,1BA$700
246 N Hyland Ave1 bed/ 1 bath1BR,1BA$775
3500 Grand Ave1BR/1.0BA1BR,1BA$825
The Landing AmesS1 - 0x1Studio,1BA$830

Best Value Apartments for Rent in Downtown Ames, IA

As of October 14, 2025 the best value apartment in the Downtown Ames area is the $1.19 price per square foot 3 bed/ 2 bath Model at 246 N Hyland Ave in the in the Eagle Ridge neighborhood starting from $1,425. The second greatest value Downtown Ames apartment is the B - 2x2 Model at The Quarters Ames starting at $750 with a $0.63 price per square foot in the South Ames neighborhood. Here is today’s list of the best values for Downtown Ames apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
246 N Hyland Ave3 bed/ 2 bath3BR,2BA$1.19
The Quarters AmesB - 2x22BR,2BA$0.63
Grandview Square Apartments2bed 1bth2BR,1BA$0.80
Prairie WestAvailable- 2 Bedroom (Half-Renovated)2BR,1BA$1.28
2706 Kent Ave2706 Kent Ave ( 2 bedroom )2BR,2BA$1.23
Melrose Park Apartments2 Beds, 1 bath2BR,1BA$0.98
Crystal Street Apartments2br/2ba2BR,2BA$1.05
Laverne ApartmentsTwo Bedroom, Two Bath2BR,2BA$1.11
Timbercreek Apartments2 Bedrooms / 2 Bathrooms2BR,2BA$1.15
Maplewood1108 S 4th Street: Maplewood - 1 Bed/ 1 Bath1BR,1BA$1.11

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Pet Friendly Lifestyle
Downtown Ames, Ames, IA

Ranked #12

Among cities in Iowa for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Getting Around the Downtown Ames Neighborhood in Ames, IA

Walk Score®

89 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

84 / 100

Very Bikeable

Biking is convenient for most trips

Frequently Asked Questions about Cheap Downtown Ames Apartments

How much is rent for a Cheap One Bedroom Downtown Ames Apartment?

The lowest price for a Cheap One Bedroom Downtown Ames Apartment is $625 at Maplewood.

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Ames is starting from $800 at Grandview Square Apartments.

What is the most affordable Downtown Ames Three Bedroom Apartment?

The best deal on a cheap Downtown Ames Three Bedroom Apartment rental is at Maplewood and starts from $980.

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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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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.