
Cheap Apartments for Rent in the Old Town Neighborhood of Ames, IA from $500 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in the Old Town area of Ames.


420 S 4th St

Beach View

210 Gray - Sunset View

Prairie West
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.

Willow Run

121 Beach Avenue

400 S 4th St

South View Apartments

Oak Brooke
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.

Riverbirch

Eastwood of Ames Apartments

South Oak

301 Main

Maple Glen
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.

Walnut Place

Glenbrook Apartments
Old Town, Ames, IA Local Guide

How much does it cost to rent an apartment in Old Town?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Old Town 1 Bedroom Apartments | $924 | $805 | $1,150 |
| Old Town 2 Bedroom Apartments | $1,227 | $700 | $1,973 |
| Old Town 3 Bedroom Apartments | $1,570 | $1,060 | $2,025 |
| Old Town 4 Bedroom Apartments | $2,825 | $2,825 | $2,825 |
Browse Apartments in this Neighborhood
There are currently 17 rentals with your search options within a 2 mile radius of the Old Town Neighborhood of Ames, IA.
See all Apartments in AmesExplore Ames
Cheapest Available Old Town Apartments for Rent
 The cheapest available apartment rental in the Old Town area of Ames, IA is a 1 Bed unit found at 301 Main priced from $880. 640 S. 4th St. has the second lowest priced unit, which is a 2 Beds apartment currently listed from $925. Here are the most affordable Old Town apartments for rent in Ames, IA:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 301 Main | 1 Bed 1 Bath | 1BR,1BA | $880 |
| 640 S. 4th St. | 640 S. 4th St. - Unit... | 2BR,1BA | $925 |
| South View Apartments | Landmark | Classic | 2BR,1BA | $1,050 |
| Prairie West | 2 Bedroom (Renovated) | 2BR,1BA | $1,225 |
Best Value Apartments for Rent in Old Town, IA
As of January 24, 2026 the best value apartment in the Old Town area is the $1.48 price per square foot 2 Bedroom (Renovated) Townhome Model at Prairie West in the in the Eagle Ridge neighborhood starting from $1,405. The second greatest value Old Town apartment is the Outlook | Renovated Model at South View Apartments starting at $1,065 with a $1.21 price per square foot in the Grand Junction neighborhood. Here is today’s list of the best values for Old Town apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Prairie West | 2 Bedroom (Renovated) Townhome | 2BR,1.5BA | $1.48 |
| South View Apartments | Outlook | Renovated | 2BR,1BA | $1.21 |
| 640 S. 4th St. | 640 S. 4th St. - Unit... | 2BR,1BA | $1.13 |
| 117 5th St, Unit 201 | 117 5th St | 2BR,1BA | $1.17 |
Frequently Asked Questions about Cheap Old Town Apartments
What is the lowest price for a Cheap Two Bedroom Old Town Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Old Town is starting from $925 at 640 S. 4th St..
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

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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.