Cheap Apartments for Rent in Ankeny, IA from $500 (94 Rentals)

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Search the lowest-cost Apartments available for rent right now in Ankeny.

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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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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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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property at 201 SW State St

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

2 Bedroom, 1 Bath Townhome for Rent

Available Now

201 SW State St

AnkenyIA50023

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Ankeny, IA Local Guide

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Local Guide Expert

Cheapest Available Ankeny Apartments for Rent

 

The cheapest available apartment rental in Ankeny, IA is a 1 Bed unit found at 114 NW College Ave in the Georgetown neighborhood priced from $725. Grand Homes (55+ Community) in the Castalia Plaza neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $800. Here is today’s list of the most affordable Ankeny apartments for rent:

Apartment ListingModel NameBed/BathPriced From
114 NW College Ave1 Beds, 1 Baths1BR,1BA$725
Grand Homes (55+ Community)One Bedroom1BR,1BA$800
218 NW State St2 BD Legacy2BR,1BA$845
Applewood PropertiesTwo Bedroom2BR,1BA$875
Lake Shore ParkB52BR,1BA$949
Brick Towne at Signature Village1 Bedroom1BR,1BA$950
Lake Shore PlaceB12BR,1BA$989
Maple Apartments2BR/1.0BA2BR,1BA$995

Best Value Apartments for Rent in Ankeny, IA

As of July 08, 2026 the best value apartment in the Ankeny area is the $0.77 price per square foot Four bed Model at Prairie Trails in the in the Hayes Acres neighborhood starting from $2,300. The second greatest value Ankeny apartment is the Prairie Trail - 4 Model at Prairie Trails starting at $2,500 with a $1.02 price per square foot in the Hayes Acres neighborhood. Here is today’s list of the best values for Ankeny apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Prairie TrailsFour bed4BR,3BA$0.77
Prairie TrailsPrairie Trail - 44BR,3BA$1.02
Centennial Pointe WestCentennial Pointe West3BR,3BA$1.00
The Ridge at Canyon Landing TownhomesPearson3BR,2.5BA$1.18
Fieldstream Apartment HomesTwo Bedroom2BR,2BA$1.17
Applewood PropertiesTwo Bedroom2BR,1BA$0.87
Maple Apartments2BR/1.0BA2BR,1BA$1.11
Lake Shore PlaceB12BR,1BA$1.13
218 NW State St2 BD Legacy2BR,1BA$1.06
Grand Homes (55+ Community)One Bedroom1BR,1BA$1.00

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Ankeny Overview

Ankeny, Iowa is an amazing place to live with many opportunities for recreation, access to public transportation, as well as optimal seasonal weather. The town is a great place to raise a family and the town has even been recognized for this fact.

Why live in Ankeny, IA?

The town of Ankeny, Iowa is a very nice place to live because of it's focus on family and building a strong community. The city offers several opportunities for family recreation including hiking, classes, and events all year long. Because of the town's efforts to make the town a great place for families, Ankeny was recognized by Family Circle one of the top ten places in the US to live. A year later, the town placed #62 on the top 100 places to live in MONEY Magazine. If you want a great place to raise your family, choose Ankeny, Iowa.

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Ankeny, IA

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Ankeny Apartments

What is the Cheapest Studio apartment in Ankeny?

Currently the most affordable Cheap Studio Apartment in Ankeny is at Sterling of Prairie Trail listed at $1,080.

How much is rent for a Cheap One Bedroom Ankeny Apartment?

The lowest price for a Cheap One Bedroom Ankeny Apartment is $725 at 114 NW College Ave.

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

Today's best deal for a Cheap Two Bedroom Apartment in Ankeny is starting from $845 at 218 NW State St.

What is the most affordable Ankeny Three Bedroom Apartment?

The best deal on a cheap Ankeny Three Bedroom Apartment rental is at Grand Homes (55+ Community) and starts from $975.

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 A Local Expert's Guide To the Top Budget-Friendly Neighborhoods to Rent in Des Moines, Iowa article

A Local Expert's Guide To the Top Budget-Friendly Neighborhoods to Rent in Des Moines, Iowa

Written by: Joseph Isenberg

I'm Joe, the ApartmentHomeLiving.com Local Expert for Des Moines and Central Iowa. My parents moved to Central Iowa in 1967, and my family has been here ever since.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.