Cheap Apartments for Rent in the Old Town Neighborhood of Ames, IA from $500 (26 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Old Town area of 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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520 5th St
1 Bedroom Apartments

520 5th St

520 5th StAmes, IA 50010
  • Utilities Included
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640 S. 4th St.
Studio to 2 Bedroom Apartments

640 S. 4th St.

620-640 S 4th StAmes, IA 50010
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514-520 Carroll Ave
1 Bedroom Apartments

514-520 Carroll Ave

514-520 Carroll AveAmes, IA 50010
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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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Oak Brooke
2 to 3 Bedroom Apartments

Oak Brooke

422 Stonehaven DrAmes, IA 50010
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South Oak
Studio to 2 Bedroom Apartments

South Oak

221 S Oak AveAmes, IA 50010
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Stonehaven Apartments
1 Bedroom Apartments

Stonehaven Apartments

421 Stonehaven DrAmes, IA 50010
Senior Living
  • Utilities Included
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301 Main
1 Bedroom Apartments

301 Main

301 Main StAmes, IA 50010

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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428 S 4th St
3 to 4 Bedroom Apartments

428 S 4th St

428 S 4th StAmes, IA 50010
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Willow Run
2 to 3 Bedroom Apartments

Willow Run

645 Stonehaven DrAmes, IA 50010
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Riverbirch
Studio to 2 Bedroom Apartments

Riverbirch

201 S 5th StAmes, IA 50010
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Maple Glen
1 to 3 Bedroom Apartments

Maple Glen

229 S 5th StAmes, IA 50010
  • Utilities Included

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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South View Apartments
2 Bedroom Apartments

South View Apartments

209-227 S 5th StAmes, IA 50010
Corporate Housing
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Showing Results 1-26, Page 1 of 1

Old Town, Ames, IA Local Guide

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 640 S. 4th St. priced from $785. 301 Main has the second lowest priced unit, which is a 1 Bed apartment currently listed from $880. Here are the most affordable Old Town apartments for rent in Ames, IA:

Apartment ListingModel NameBed/BathPriced From
640 S. 4th St.640 S. 4th St. - Unit...1BR,1BA$785
301 Main1 Bed 1 Bath1BR,1BA$880
1108 S. 4th Street3 Bed/ 1.5 Bath3BR,1BA$980
South View ApartmentsLandmark | Classic2BR,1BA$1,050
Prairie West2 Bedroom (Renovated)2BR,1BA$1,225

Best Value Apartments for Rent in Old Town, IA

As of April 26, 2026 the best value apartment in the Old Town area is the $0.98 price per square foot 3 Bed/ 1.5 Bath Model at 1108 S. 4th Street in the in the Grand Junction neighborhood starting from $980. The second greatest value Old Town apartment is the 2 Bedroom (Renovated) Townhome Model at Prairie West starting at $1,405 with a $1.48 price per square foot in the Eagle Ridge neighborhood. Here is today’s list of the best values for Old Town apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1108 S. 4th Street3 Bed/ 1.5 Bath3BR,1.5BA$0.98
Prairie West2 Bedroom (Renovated) Townhome2BR,1.5BA$1.48
South View ApartmentsOutlook | Renovated2BR,1BA$1.21
640 S. 4th St.640 S. 4th St. - Unit...1BR,1BA$1.26

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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Quick Rent Budget Calculator

How much rent can you afford?

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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Pet Friendly Lifestyle
Old Town, Ames, IA

Ranked #10

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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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 $940 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

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

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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.