Cheap Apartments for Rent in the Drake Neighborhood of Des Moines, IA from $500 (38 Rentals)

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

property at 1123 24th St

$695

Studio, 1 Bath Rentals

Available Now

1123 24th St

Des MoinesIA50311
property at 1108 25th St

$700

1 Bedroom, 1 Bath Rentals

Available Now

1108 25th St

Des MoinesIA50311
property at 1215 25th St

$775

1 Bedroom, 1 Bath Rentals

Available Now

1215 25th St

Des MoinesIA50311

Des Moines's Best Affordable Neighborhoods

Learn about Des Moines and the best places to live with original content written by our Local Expert Joseph Isenberg

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property at 1300 34th St

$825

2 Bedroom Rentals

Available Now

1300 34th St

Des MoinesIA50311
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3809 University Ave
Studio Apartments

3809 University Ave

3809 University AveDes Moines, IA 50311
  • Utilities Included

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Drake Collection
1 to 3 Bedroom Apartments

Drake Collection

2931 Cottage Grove AveDes Moines, IA 50311
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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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1123 24th
Studio to 3 Bedroom Apartments

1123 24th

1123 24thDes Moines, IA 50311
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University West
2 Bedroom Apartments

University West

4010 UniversityDes Moines, IA 50311
  • Utilities Included
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Kingman Gardens
1 to 3 Bedroom Apartments

Kingman Gardens

3010 Kingman BlvdDes Moines, IA 50311
  • Utilities Included

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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Drake Pointe
1 to 2 Bedroom Apartments

Drake Pointe

1101 25th StDes Moines, IA 50311
Student Housing
  • Utilities Included
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1069 33rd St
1 to 2 Bedroom Apartments

1069 33rd St

1069 33rd StDes Moines, IA 50311
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JK Sully 1075
2 Bedroom Apartments

JK Sully 1075

1075 33rd StDes Moines, IA 50311
  • Utilities Included
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Chetwynd Apartments
1 to 2 Bedroom Apartments

Chetwynd Apartments

3519 University AveDes Moines, IA 50311
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1414 30th St
2 Bedroom Apartments

1414 30th St

1414 30th StDes Moines, IA 50311
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University Park Apartments
Studio to 2 Bedroom Apartments

University Park Apartments

3725-3727 University AveDes Moines, IA 50311
  • Utilities Included

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Drake Terrace
2 Bedroom Apartments

Drake Terrace

1100 24th StDes Moines, IA 50311
Student Housing
  • Utilities Included
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2813 Cottage Grove Ave
1 to 3 Bedroom Apartments

2813 Cottage Grove Ave

2813 Cottage Grove AveDes Moines, IA 50311
  • Utilities Included
Showing Results 1-38, Page 1 of 1

Cheapest Available Drake Apartments for Rent

 

The cheapest available apartment rental in the Drake area of Des Moines, IA is a 1 Bed unit found at The Drake priced from $695. 1123 24th has the second lowest priced unit, which is a Studio apartment currently listed from $695. Here are the most affordable Drake apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
The DrakeB31BR,1BA$695
1123 24th0 Beds, 1 BathsStudio,1BA$695
Beaverdale Housing LLCStudioStudio,1BA$710
Canary LoftsStudio AStudio,1BA$730
2820-2822 Kingman Blvd1 Beds, 1 Baths1BR,1BA$745
Old Main & Drake ApartmentsStudioStudio,1BA$785
Lofts on 34th0BR/1.0BAStudio,1BA$850
Forest Avenue VillageStudioStudio,1BA$900
Forest Ave Townhomes1 BR1BR,1BA$1,075

Best Value Apartments for Rent in Drake, IA

As of July 26, 2026 the best value apartment in the Drake area is the $0.99 price per square foot 1 Beds, 1 Baths Model at 2820-2822 Kingman Blvd in the in the Drake Park neighborhood starting from $745. The second greatest value Drake apartment is the 1 BR Model at Forest Ave Townhomes starting at $1,075 with a $1.59 price per square foot in the Northwest Des Moines neighborhood. Here is today’s list of the best values for Drake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2820-2822 Kingman Blvd1 Beds, 1 Baths1BR,1BA$0.99
Forest Ave Townhomes1 BR1BR,1BA$1.59
The DrakeB22BR,1BA$1.46
3420 Kingman Blvd, Unit B23420 Kingman BlvdStudio ,1BA$1.55
Lofts on 34th0BR/1.0BAStudio ,1BA$1.99
Forest Avenue VillageStudioStudio ,1BA$2.12
1123 24th0 Beds, 1 BathsStudio ,1BA$1.74
Old Main & Drake ApartmentsStudioStudio ,1BA$2.03
Beaverdale Housing LLCStudioStudio ,1BA$1.87
Canary LoftsStudio AStudio ,1BA$2.21

Frequently Asked Questions about Cheap Drake Apartments

What is a cheap apartment in Drake?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Drake is under $1,075.

What is the price of a cheap apartment in Drake?

The cheapest apartment in Drake is The Drake which is listed at $695, while the average apartment in Drake costs $1,625.

What types of apartments are the cheapest in Drake?

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 4 regular apartments in Drake 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?

Cheap apartments in Drake have an average cost of $162 which is $1,463 cheaper than the average rent for all rentals in Drake.

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

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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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

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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.