Cheap Apartments for Rent in Ankeny, IA from $500 (77 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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property at 209 SW School St

$975

Total Monthly Price

Total Monthly Price

Base Rent
$975
Total Monthly Price
$975

2 Bedroom, 1 Bath Home for Rent

Available Now

209 SW School St

AnkenyIA50023

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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306 NW State St
1 Bedroom Apartments

306 NW State St

306 NW State StAnkeny, IA 50023
  • Utilities Included
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Mark III Apartments
1 Bedroom Apartments

Mark III Apartments

2101 W 1st StAnkeny, IA 50023
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Autumn Ridge
2 to 3 Bedroom Apartments

Autumn Ridge

2050 Four Seasons DrAnkeny, IA 50021
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Fletcher Estates
1 to 3 Bedroom Apartments

Fletcher Estates

205 NE Hayes DrAnkeny, IA 50021
  • 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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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 Ankeny Park Apartments in the Georgetown neighborhood priced from $700. 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
Ankeny Park Apartments1B1B1BR,1BA$700
Grand Homes (55+ Community)One Bedroom1BR,1BA$800
602 SE Grant St2 Bed 1 Bath2BR,1BA$825
Cozy 2 Bedroom 1 Bathroom in Prime Ankeny Location - $99 Deposit & Rent Special2 BD Legacy2BR,1BA$845
Timberland at CrestbruckStudioStudio,1BA$868
Applewood PropertiesTwo Bedroom2BR,1BA$875
Maple Apartments2BR/1.0BA2BR,1BA$895
Oakwood PlaceIronwood 40%2BR,1BA$910

Best Value Apartments for Rent in Ankeny, IA

As of May 22, 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 Henderson Park neighborhood starting from $2,300. The second greatest value Ankeny apartment is the Centennial Pointe West Model at Centennial Pointe West starting at $2,400 with a $1.00 price per square foot in the Georgetown 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
Centennial Pointe WestCentennial Pointe West3BR,3BA$1.00
Brixin at Kimberley CrossingE1 Pattison - 4 Bedroom4BR,2.5BA$1.18
Tradition Pointe2Bdrm - 1115 Building (A)2BR,2BA$1.22
Applewood PropertiesTwo Bedroom2BR,1BA$0.87
Maple Apartments2BR/1.0BA2BR,1BA$0.99
206 SW State St, Unit 5206 SW State St2BR,1BA$1.00
Grand Homes (55+ Community)One Bedroom1BR,1BA$1.00
Cozy 2 Bedroom 1 Bathroom in Prime Ankeny Location - $99 Deposit & Rent Special2 BD Legacy2BR,1BA$1.06
602 SE Grant St2 Bed 1 Bath2BR,1BA$1.04

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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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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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 Timberland at Crestbruck listed at $868.

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

The lowest price for a Cheap One Bedroom Ankeny Apartment is $700 at Ankeny Park Apartments.

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 $825 at 602 SE Grant 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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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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.

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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.