Cheap Apartments for Rent in the Somerset Neighborhood of Ames, IA from $400 (75 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Somerset 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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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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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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Twin Oaks Apartments
Studio to 2 Bedroom Apartments

Twin Oaks Apartments

4210 Lincoln Swing StAmes, IA 50014
  • Utilities Included
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520 5th St
1 Bedroom Apartments

520 5th St

520 5th StAmes, IA 50010
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307 Lynn Ave
1 to 4 Bedroom Apartments

307 Lynn Ave

307 Lynn AveAmes, IA 50014
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Furman Regency Court
1 to 2 Bedroom Apartments

Furman Regency Court

3020 Regency CtAmes, IA 50010
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1005 28th St
1 to 2 Bedroom Apartments

1005 28th St

1005 28th StAmes, IA 50010
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Spruce Pointe
1 to 2 Bedroom Apartments

Spruce Pointe

126 Beedle DrAmes, IA 50014
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4112 Lincoln Swing
1 to 2 Bedroom Apartments

4112 Lincoln Swing

4112 Lincoln Swing StAmes, IA 50014
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2713 Luther Dr
2 Bedroom Apartments

2713 Luther Dr

2713 Luther DrAmes, IA 50010

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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230 Campus Ave
1 to 2 Bedroom Apartments

230 Campus Ave

230 Campus AveAmes, IA 50014
  • Utilities Included
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4606 Ontario St
2 Bedroom Apartments

4606 Ontario St

4606 Ontario StAmes, IA 50014
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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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2707 Luther Dr
2 Bedroom Apartments

2707 Luther Dr

2707 Luther DrAmes, IA 50010
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3319 Story St.
2 to 4 Bedroom Apartments

3319 Story St.

3319 Story StAmes, IA 50014
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4518 Hutchison St
Studio to 2 Bedroom Apartments

4518 Hutchison St

4518 Hutchison StAmes, IA 50014
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Showing Results 1-50, Page 1 of 2

Somerset, Ames, IA Local Guide

Cheapest Available Somerset Apartments for Rent

 

The cheapest available apartment rental in the Somerset area of Ames, IA is a Studio unit found at 304 Welch Ave priced from $635. Campus Flats has the second lowest priced unit, which is a 4 Beds apartment currently listed from $655. Here are the most affordable Somerset apartments for rent in Ames, IA:

Apartment ListingModel NameBed/BathPriced From
304 Welch AveStudioStudio,1BA$635
Campus Flats4 Bed - Rent by Room4BR,4BA$655
Furman 24th Street Apartments1 Bedroom1BR,1BA$710
Windsor PointeAspen 60%1BR,1BA$725
Western Hills Apartments1 Bed/1 Bath Apartment1BR,1BA$745
Grandview Square Apartments2bed 1bth2BR,1BA$765
Wyndsor TerraceStudioStudio,1BA$765
Hickory Ridge Apartments0 bed, 1 bathStudio,1BA$799
Hyland Apartments1 Bedroom Apartment1BR,1BA$820
Aspen Village2522 Aspen (1 Bedroom)1BR,1BA$820

Best Value Apartments for Rent in Somerset, IA

As of April 17, 2026 the best value apartment in the Somerset 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 Somerset apartment is the 1412 North Dakota Ave Model at 1412 North Dakota Ave, Unit 1412 starting at $1,650 with a $1.00 price per square foot in the Eagle Ridge neighborhood. Here is today’s list of the best values for Somerset apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Walnut Ridge3515 Lincoln Way ( 4 bdrm )4BR,3BA$1.02
1412 North Dakota Ave, Unit 14121412 North Dakota Ave4BR,2BA$1.00
Campus Flats3 Bed - Rent by Room3BR,3BA$0.66
Alpine Manor Apartments3 Bedroom, 2 Bath Remodel3BR,2BA$1.12
Grandview Square Apartments2bed 1bth2BR,1BA$0.77
Somerset Apartments2 Bed/1 Bath Apartment2BR,1BA$1.18
Western Hills Apartments2 Bed/2 Bath Apartment2BR,2BA$1.05
Point at AmesFrisco B2BR,2BA$1.06
Beautiful Location with Lots of Trees and Greenspace2BR/1.0BA2BR,1BA$1.10
Furman 24th Street Apartments1 Bedroom1BR,1BA$1.16

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
Somerset, Ames, IA

Ranked #11

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals in cities across the United States, including Ames. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, kid and pet-friendly communities, availability of transit options, in addition to floorplans, availablity, and pricing. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Somerset Apartments

What is a cheap apartment in Somerset?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Somerset is under $820.

What is the price of a cheap apartment in Somerset?

The cheapest apartment in Somerset is Furman 24th Street Apartments which is listed at $710, while the average apartment in Somerset costs $1,350.

What types of apartments are the cheapest in Somerset?

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 44 regular apartments in Somerset 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 Somerset?

Cheap apartments in Somerset have an average cost of $512 which is $838 cheaper than the average rent for all rentals in Somerset.

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 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.

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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.

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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.