Cheap Apartments for Rent in the Drake University Neighborhood of Des Moines, IA from $500 (46 Rentals)

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

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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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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Harrington Studios
Studio Apartments

Harrington Studios

677 16th StDes Moines, IA 50314
  • Utilities Included

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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3809 University Ave
Studio Apartments

3809 University Ave

3809 University AveDes Moines, IA 50311
  • Utilities Included
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The Flats on 21st
Studio to 1 Bedroom Apartments

The Flats on 21st

1313 21st StDes Moines, IA 50311
  • Utilities Included
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Drake Collection
1 to 3 Bedroom Apartments

Drake Collection

2931 Cottage Grove AveDes 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
  • 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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Kingman Gardens
1 to 3 Bedroom Apartments

Kingman Gardens

3010 Kingman BlvdDes Moines, IA 50311
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The Brady Apartments
Studio to 1 Bedroom Apartments

The Brady Apartments

650 16th StDes Moines, IA 50314
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Drake Pointe
1 to 2 Bedroom Apartments

Drake Pointe

1101 25th StDes Moines, IA 50311
Student Housing
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Chetwynd Apartments
1 to 2 Bedroom Apartments

Chetwynd Apartments

3519 University AveDes Moines, IA 50311
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University Park Place
Studio to 2 Bedroom Apartments

University Park Place

3725-3727 University AveDes Moines, IA 50311
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Drake Terrace
2 Bedroom Apartments

Drake Terrace

1100 24th StDes Moines, IA 50311
Student Housing
  • 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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Flats on Pleasant
1 to 2 Bedroom Apartments

Flats on Pleasant

1913-1915 Pleasant StDes Moines, IA 50314
Showing Results 1-46, Page 1 of 1

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 1 Bed unit found at The Flats on 21st priced from $595. Village Green has the second lowest priced unit, which is a Studio apartment currently listed from $600. Here are the most affordable Drake University apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
The Flats on 21st1 Bedroom1BR,1BA$595
Village GreenStudioStudio,1BA$600
The Grove at Hickman1x11BR,1BA$650
The Drake ApartmentsB31BR,1BA$655
Beaverdale Housing LLCStudioStudio,1BA$710
Pleasant CourtStudioStudio,1BA$725
MLK Brickstone ApartmentsOne Bedroom1BR,1BA$730
The Brady Apartments0BR/1.0BAStudio,1BA$750
Woodland Avenue Brickstone1x1 6301BR,1BA$775

Best Value Apartments for Rent in Drake University, IA

As of October 25, 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
3120 Cottage Grove Ave, Unit Apt 23120 Cottage Grove Ave1BR,1BA$0.83
Woodland Avenue Brickstone2x1 8502BR,1BA$1.19
1215 23rd St, Unit 1215 23RD apt #31215 23rd St2BR,1BA$1.00
713 20th St, Unit 1915-2713 20th St2BR,1BA$1.01
722 18th St1x11BR,1BA$1.21
MLK Brickstone ApartmentsOne Bedroom1BR,1BA$1.12
The Flats on 21st1 Bedroom1BR,1BA$0.99
The Grove at Hickman1x11BR,1BA$1.13

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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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 #70

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

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 $775.

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 $595, while the average apartment in Drake University costs $1,315.

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 2 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 $804 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.

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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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.