Cheap Apartments for Rent in the Drake Neighborhood of Des Moines, IA from $500 (29 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Drake 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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3809 University Ave
Studio Apartments

3809 University Ave

3809 University AveDes 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

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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1110 29th St
1 to 2 Bedroom Apartments

1110 29th St

1110 29th StDes 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
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Drake Pointe
1 to 2 Bedroom Apartments

Drake Pointe

1101 25th StDes Moines, IA 50311
Student Housing
  • 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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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
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Drake Terrace
2 Bedroom Apartments

Drake Terrace

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

2813 Cottage Grove Ave

2813 Cottage Grove AveDes Moines, IA 50311
  • Utilities Included
Showing Results 1-29, 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 Studio unit found at Beaverdale Housing LLC priced from $710. 2820-2822 Kingman Blvd has the second lowest priced unit, which is a 1 Bed apartment currently listed from $745. Here are the most affordable Drake apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
Beaverdale Housing LLCStudioStudio,1BA$710
2820-2822 Kingman Blvd1 Beds, 1 Baths1BR,1BA$745
Old Main & Drake ApartmentsStudioStudio,1BA$785
Canary LoftsStudio AStudio,1BA$795
The DrakeC22BR,1BA$825
Forest Avenue VillageStudioStudio,1BA$867
Forest Ave Townhomes1 BR1BR,1BA$1,125
1123 24th3 Beds, 1 Baths3BR,1BA$1,185

Best Value Apartments for Rent in Drake, IA

As of June 11, 2026 the best value apartment in the Drake area is the $1.39 price per square foot 3 Beds, 1 Baths Model at 1123 24th in the in the Drake Park neighborhood starting from $1,185. The second greatest value Drake apartment is the 1 Beds, 1 Baths Model at 2820-2822 Kingman Blvd starting at $745 with a $0.99 price per square foot in the Drake Park 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.
1123 24th3 Beds, 1 Baths3BR,1BA$1.39
2820-2822 Kingman Blvd1 Beds, 1 Baths1BR,1BA$0.99
Forest Ave Townhomes1 BR1BR,1BA$1.67
The DrakeB22BR,1BA$1.46
Canary LoftsAlcove F1BR,1BA$2.41
Forest Avenue VillageStudioStudio ,1BA$2.04
3721 Cottage Grove Ave3721 Cottage Grove AveStudio ,1BA$1.63
Old Main & Drake ApartmentsStudioStudio ,1BA$2.03
Beaverdale Housing LLCStudioStudio ,1BA$1.87

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 $1,185.

What is the price of a cheap apartment in Drake?

The cheapest apartment in Drake is 2820-2822 Kingman Blvd which is listed at $745, while the average apartment in Drake costs $1,592.

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 1 regular apartments in Drake that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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.

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.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.