Cheap Apartments for Rent in the Drake University Neighborhood of Des Moines, IA from $500 (54 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Drake University area of Des Moines.

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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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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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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Harrington Studios
Studio Apartments

Harrington Studios

677 16th StDes Moines, IA 50314
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3809 University Ave
Studio Apartments

3809 University Ave

3809 University AveDes Moines, IA 50311
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Drake Collection
1 Bedroom Apartments

Drake Collection

2931 Cottage Grove AveDes Moines, IA 50311

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Kingman Gardens
1 to 3 Bedroom Apartments

Kingman Gardens

3010 Kingman BlvdDes Moines, IA 50311
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The Flats on 21st
1 Bedroom Apartments

The Flats on 21st

1313 21st StDes Moines, IA 50311
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Concord Apartments
Studio Apartments

Concord Apartments

732 18th StDes Moines, IA 50314
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Twin Manor
Studio to 1 Bedroom Apartments

Twin Manor

720 17th StDes Moines, IA 50314
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Drake Pointe
1 Bedroom Apartments

Drake Pointe

1101 25th StDes Moines, IA 50311
Student Housing
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University Park Place
2 Bedroom Apartments

University Park Place

3725-3727 University AveDes Moines, IA 50311
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718 18th St
1 Bedroom Apartments

718 18th St

718 18th StDes Moines, IA 50314
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Drake University, Des Moines, IA Local Guide

Cheapest Available Drake University Apartments for Rent

 

The cheapest available apartment rental in the Drake University area of Des Moines, IA is a Studio unit found at Village Green priced from $600. The Flats on 21st has the second lowest priced unit, which is a 1 Bed apartment currently listed from $650. Here are the most affordable Drake University apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
Village GreenStudioStudio,1BA$600
The Flats on 21st1 Bedroom1BR,1BA$650
Concord ApartmentsStudio 5Studio,1BA$675
2413 24th St2 Bedroom- 2411 24th2BR,1BA$695
Beaverdale Housing LLCStudioStudio,1BA$710
Pleasant CourtStudioStudio,1BA$725
1333 22nd Street1BR/1.0BA1BR,1BA$725
The Drake1 Bedroom 1 Bathroom1BR,1BA$730
Woodland Avenue Brickstone1x1 6301BR,1BA$730
MLK Brickstone ApartmentsOne Bedroom1BR,1BA$730

Best Value Apartments for Rent in Drake University, IA

As of June 17, 2025 the best value apartment in the Drake University area is the $1.00 price per square foot Model A Model at The Elmhurst in the in the Downtown Des Moines neighborhood starting from $1,300. The second greatest value Drake University apartment is the 2 bed Model at 2813 Cottage Grove Ave starting at $900 with a $0.82 price per square foot in the Drake Park neighborhood. Here is today’s list of the best values for Drake University apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The ElmhurstModel A2BR,2BA$1.00
2813 Cottage Grove Ave2 bed2BR,1BA$0.82
1818 Pleasant St, Unit 18181818 Pleasant St2BR,1BA$1.03
Woodland Avenue Brickstone1x1 6301BR,1BA$1.08
MLK Brickstone ApartmentsOne Bedroom1BR,1BA$1.12
Four Seasons Apartments1BR/1BA1BR,1BA$1.19
University Village1 Bedroom 1 Bathroom1BR,1BA$1.39
The Drake1 Bedroom 1 Bathroom1BR,1BA$1.17
The Flats on 21st1 Bedroom1BR,1BA$1.08
2413 24th St2 Bedroom- 2411 24th2BR,1BA$1.16

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
Drake University, Des Moines, IA

Ranked #67

Among neighborhoods in Des Moines, IA for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

This website compiles millions of data points to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in cities across the United States including Drake University, Des Moines, and the greater Des Moines area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for the best proximity to parks and outdoor amenities, luxury housing options, family-friendly amenities, raising pets, transit options, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Drake University Apartments

What is a cheap apartment in Drake University?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Drake University is under $730.

What is the price of a cheap apartment in Drake University?

The cheapest apartment in Drake University is The Flats on 21st which is listed at $650, while the average apartment in Drake University costs $1,500.

What types of apartments are the cheapest in Drake University?

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 3 regular apartments in Drake University 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 Drake University?

Cheap apartments in Drake University have an average cost of $511 which is $989 cheaper than the average rent for all rentals in Drake University.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.