Cheap Apartments for Rent in the Downtown Ames Neighborhood of Ames, IA from $400 (14 Rentals)

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

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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Gateway
Rent Specials
$799 - $1,299Studio to 4 Bedroom Apartments Available Aug 4, 2026

Gateway

1300 Gateway Hills Park DrAmes, IA 50014
Student Housing
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520 5th St
1 Bedroom Apartments

520 5th St

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

514-520 Carroll Ave

514-520 Carroll AveAmes, IA 50010
  • Smoke Free

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.

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 3 Beds unit found at Copper Beech priced from $600. Grandview Square Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $690. Here are the most affordable Downtown Ames apartments for rent in Ames, IA:

Apartment ListingModel NameBed/BathPriced From
Copper Beech3BR/3BA3BR,3BA$600
Grandview Square Apartments1 bedroom 1 bath1BR,1BA$690
Somerset ApartmentsStudio ApartmentStudio,1BA$800
Townhomes at Creekside3 Bedroom3BR,2BA$815
Hyland Apartments1 Bedroom Apartment1BR,1BA$820

Best Value Apartments for Rent in Downtown Ames, IA

As of November 29, 2025 the best value apartment in the Downtown Ames area is the $0.56 price per square foot 3 Bedroom Model at Townhomes at Creekside in the in the Fountainview neighborhood starting from $815. 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.
Townhomes at Creekside3 Bedroom3BR,2BA$0.56
The Quarters AmesB - 2x22BR,2BA$0.63
Northern Lights Apartments3427 Polaris ( 3 bedroom )3BR,2BA$1.14
Grandview Square Apartments2bed 1bth2BR,1BA$0.78
The Grove2BR/2BA2BR,2BA$0.75
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
Point at AmesFrisco A2BR,2BA$1.10

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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Pet Friendly Lifestyle
Downtown Ames, Ames, IA

Ranked #9

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

What is the price of a cheap apartment in Downtown Ames?

The cheapest apartment in Downtown Ames is Grandview Square Apartments which is listed at $690, while the average apartment in Downtown Ames costs $1,080.

What types of apartments are the cheapest in Downtown 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 58 regular apartments in Downtown 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 Downtown Ames?

Cheap apartments in Downtown Ames have an average cost of $717 which is $363 cheaper than the average rent for all rentals in Downtown Ames.

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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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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.