Cheap Apartments for Rent in the Drake University Neighborhood of Des Moines, IA from $500 (71 Rentals)

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

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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Harrington Studios
Studio Apartments

Harrington Studios

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

3809 University Ave

3809 University AveDes Moines, IA 50311
  • Utilities Included

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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Drake Collection
1 to 3 Bedroom Apartments

Drake Collection

2931 Cottage Grove AveDes Moines, IA 50311
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732 19th St
Studio to 1 Bedroom Apartments

732 19th St

732 19th StDes Moines, IA 50314
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2413 24th St
2 Bedroom Apartments

2413 24th St

2413 24th StDes Moines, IA 50310
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Twin Manor
Studio to 1 Bedroom Apartments

Twin Manor

720 17th StDes Moines, IA 50314
  • Utilities Included
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1110 29th St
1 to 2 Bedroom Apartments

1110 29th St

1110 29th StDes Moines, IA 50311
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The Flats on 21st
Studio to 1 Bedroom Apartments

The Flats on 21st

1313 21st StDes Moines, IA 50311
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1082 21st St
Studio to 1 Bedroom Apartments

1082 21st St

1082 21st StDes Moines, IA 50311
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Kingman Gardens
1 to 3 Bedroom Apartments

Kingman Gardens

3010 Kingman BlvdDes Moines, IA 50311
  • Utilities Included

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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. 732 19th St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $625. Here are the most affordable Drake University apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
Village GreenStudioStudio,1BA$600
732 19th St1 Beds, 1 Baths1BR,1BA$625
The Concord BuildingStudioStudio,1BA$630
The Grove at Hickman1x11BR,1BA$695
The DrakeB31BR,1BA$695
The Flats on 21st1 Bedroom1BR,1BA$695
Beaverdale Housing LLCStudioStudio,1BA$710
Pleasant CourtStudioStudio,1BA$725
1314 22nd St1 Beds, 1 Baths1BR,1BA$725
2820-2822 Kingman Blvd1 Beds, 1 Baths1BR,1BA$745

Best Value Apartments for Rent in Drake University, IA

As of June 23, 2026 the best value apartment in the Drake University area is the $1.27 price per square foot 6 Beds, 3.5 Baths Model at 669 17th St in the in the Southwest Des Moines neighborhood starting from $4,200. The second greatest value Drake University apartment is the B2 Model at Matilda 235 Townhomes starting at $2,450 with a $1.14 price per square foot in the Downtown Des Moines 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.
669 17th St6 Beds, 3.5 Baths6BR,3.5BA$1.27
Matilda 235 TownhomesB22BR,2.5BA$1.14
The ElmhurstModel A2BR,2BA$1.00
MLK Brickstone ApartmentsTwo Bedroom2BR,2BA$0.95
2820-2822 Kingman Blvd1 Beds, 1 Baths1BR,1BA$0.99
722 18th St1x11BR,1BA$1.21
The Flats on 21st1 Bedroom1BR,1BA$1.16
The Grove at Hickman1x11BR,1BA$1.21
1314 22nd St1 Beds, 1 Baths1BR,1BA$1.36
The Concord BuildingStudioStudio ,1BA$1.33

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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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 #57

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

Pet Friendliness Lifestyle Score

3.5
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 $745.

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

The cheapest apartment in Drake University is 732 19th St which is listed at $625, while the average apartment in Drake University costs $1,584.

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 7 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 $306 which is $1,278 cheaper than the average rent for all rentals in Drake University.

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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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.

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

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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.