
Cheap Apartments for Rent in the Drake University Neighborhood of Des Moines, IA from $500 (54 Rentals)
Search the lowest-cost Apartments available for rent right now in the Drake University area of Des Moines.


Beaverdale Housing LLC

Pleasant Court

MLK Brickstone Apartments
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.

Woodland Avenue Brickstone

Imperial Grand Prix

Four Seasons Apartments

1000 24th St

Forest Avenue Village

Old Main & Drake Apartments

1040 22nd St

1334 32nd St

1818 Pleasant St, Unit 1818

1334 32nd St
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.

The Grove at Hickman

Newens Dairy Lofts

3000 Grand Apartments

Canary Lofts

The Parker @ Seventh

2813 Cottage Grove Ave

University Village

University Place Lofts
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Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

1067 21st St

Des Moines Greystone Homes

1325 22nd St

Ingersoll Square Lofts
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Drake University, Des Moines, IA Local Guide

How much does it cost to rent an apartment in Drake University?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Drake University Studio Apartments | $1,108 | $600 | $1,749 |
Drake University 1 Bedroom Apartments | $1,356 | $595 | $1,927 |
Drake University 2 Bedroom Apartments | $1,549 | $695 | $2,687 |
Drake University 3 Bedroom Apartments | $1,644 | $1,100 | $2,966 |
Drake University 4 Bedroom Apartments | $1,254 | $965 | $1,555 |
Browse Apartments in this Neighborhood
There are currently 54 rentals with your search options within a 1 mile radius of the Drake University Neighborhood of Des Moines, IA.
See all Apartments in Des MoinesExplore Des Moines
Drake University, Des Moines, IA Local Guide
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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 Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Village Green | Studio | Studio,1BA | $600 |
The Flats on 21st | 1 Bedroom | 1BR,1BA | $650 |
Concord Apartments | Studio 5 | Studio,1BA | $675 |
2413 24th St | 2 Bedroom- 2411 24th | 2BR,1BA | $695 |
Beaverdale Housing LLC | Studio | Studio,1BA | $710 |
Pleasant Court | Studio | Studio,1BA | $725 |
1333 22nd Street | 1BR/1.0BA | 1BR,1BA | $725 |
The Drake | 1 Bedroom 1 Bathroom | 1BR,1BA | $730 |
Woodland Avenue Brickstone | 1x1 630 | 1BR,1BA | $730 |
MLK Brickstone Apartments | One Bedroom | 1BR,1BA | $730 |
Best Value Apartments for Rent in Drake University, IA
As of June 16, 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
The Elmhurst | Model A | 2BR,2BA | $1.00 |
2813 Cottage Grove Ave | 2 bed | 2BR,1BA | $0.82 |
1818 Pleasant St, Unit 1818 | 1818 Pleasant St | 2BR,1BA | $1.03 |
Woodland Avenue Brickstone | 1x1 630 | 1BR,1BA | $1.08 |
MLK Brickstone Apartments | One Bedroom | 1BR,1BA | $1.12 |
Four Seasons Apartments | 1BR/1BA | 1BR,1BA | $1.19 |
University Village | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.39 |
The Drake | 1 Bedroom 1 Bathroom | 1BR,1BA | $1.17 |
The Flats on 21st | 1 Bedroom | 1BR,1BA | $1.08 |
2413 24th St | 2 Bedroom- 2411 24th | 2BR,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.
Pet Friendly LifestyleDrake University, Des Moines, IA
Ranked #70
Among neighborhoods in Des Moines, IA for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
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.

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.

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.

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.

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.