Cheap Apartments for Rent in the Gray's Lake Neighborhood of Des Moines, IA from $500 (109 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Gray's Lake area of Des Moines.

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City Square Lofts
Rent Specials
$755 - $1,819
Total Monthly Price

Total Monthly Price

Base Rent
$722 - $1,786
Required Monthly Fees
$33
Total Monthly Price
$755 - $1,819
Studio to 3 Bedroom Apartments Available Now

City Square Lofts

240 E Walnut StDes Moines, IA 50309
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Soll
Rent Specials
$775 - $2,185
Total Monthly Price

Total Monthly Price

Base Rent
$672 - $2,082
Required Monthly Fees
$103
Total Monthly Price
$775 - $2,185
Studio to 2 Bedroom Apartments Available Now

Soll

2301 Ingersoll AveDes Moines, IA 50312
Affordability
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  • Customer Reviewed
  • 3D Tour

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The Des Moines Building
Rent Specials
$810 - $1,414
Total Monthly Price

Total Monthly Price

Base Rent
$805 - $1,409
Required Monthly Fees
$5
Total Monthly Price
$810 - $1,414
Studio to 2 Bedroom Apartments Available Now

The Des Moines Building

405 6th AveDes Moines, IA 50309
Affordability
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  • Low Income

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Eagle View Lofts
$815 - $1,712
Total Monthly Price

Total Monthly Price

Base Rent
$717 - $1,614
Required Monthly Fees
$98
Total Monthly Price
$815 - $1,712
1 to 2 Bedroom Apartments Available Now

Eagle View Lofts

708-712 SE 6th StDes Moines, IA 50309
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Park Ridge Apartments
Rent Specials
$825 - $1,100
Total Monthly Price

Total Monthly Price

Base Rent
$825 - $1,100
Total Monthly Price
$825 - $1,100
1 to 3 Bedroom Apartments Available Now

Park Ridge Apartments

3200 Indianola AveDes Moines, IA 50315
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Finn Apartments
Rent Specials
$895 - $1,125
Total Monthly Price

Total Monthly Price

Base Rent
$890 - $1,120
Required Monthly Fees
$5
Total Monthly Price
$895 - $1,125
1 to 2 Bedroom Apartments Available Now

Finn Apartments

2221 Stanton AveDes Moines, IA 50321
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Maxwell
Rent Specials
$900 - $1,650Studio to 2 Bedroom Apartments Contact Us For Availability

Maxwell

915 Mulberry StDes Moines, IA 50309
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  • Utilities Included

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Gray's Lake, Des Moines, IA Local Guide

Cheapest Available Gray's Lake Apartments for Rent

 

The cheapest available apartment rental in the Gray's Lake area of Des Moines, IA is a Studio unit found at The Acacia priced from $647. Stockbridge Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $650. Here are the most affordable Gray's Lake apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
The AcaciaStudio - ClassicStudio,1BA$647
Stockbridge Apartments1x1 670-7001BR,1BA$650
Ingersoll Park Studio Apartments 3607StudioStudio,1BA$675
Arlington HallettStudio WestStudio,1BA$680
MelbourneB4 - 40 - Income Restricted2BR,2BA$682
Argonne ApartmentsStudio CStudio,1BA$700
Watrous ApartmentsA11BR,1BA$705
The Pointe on Fleur ApartmentsOne Bedroom Available-$500 Rent Credit-Call for...1BR,1BA$725
1201 E Bell AvenueTwo Bedroom Southside of Des Moines *No App Fee*1BR,1BA$725
The JeffersonJefferson unrenovated 2 bed 1 bath2BR,1BA$745

Best Value Apartments for Rent in Gray's Lake, IA

As of February 17, 2026 the best value apartment in the Gray's Lake area is the $1.04 price per square foot B1 Model at Eagle View Lofts in the in the Southwest Des Moines neighborhood starting from $1,712. The second greatest value Gray's Lake apartment is the Plan B - two story Model at Southern Meadows Homes starting at $1,275 with a $0.93 price per square foot in the Southwest Des Moines neighborhood. Here is today’s list of the best values for Gray's Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Eagle View LoftsB12BR,1.5BA$1.04
Southern Meadows HomesPlan B - two story3BR,2BA$0.93
Ingersoll TowersRiley2BR,2BA$0.84
Magnolia Park2nd Floor 2/2.02BR,2BA$0.80
Magnolia Manor Apartments and Townhomes2 Bedroom2BR,1BA$0.89
McKinley Apartments3BD/1.5BA3BR,1.5BA$0.94
Hamilton ApartmentsOne Bedroom1BR,1BA$0.84
The JeffersonJefferson 2 Bed 1 Bath Renovated2BR,1BA$0.92
The 31st Street ApartmentsOne Bedroom + Den1BR,1BA$1.05
Stockbridge Apartments1x1 670-7001BR,1BA$0.93

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Pet Friendly Lifestyle
Gray's Lake, Des Moines, IA

Ranked #12

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Gray's Lake, Des Moines, IA

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, including Des Moines. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including our Star Ratings to compare for outdoor amenities like tennis courts, luxury amenities, transit availability, pet-friendly communities, apartment communities for the kids, and more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Gray's Lake Apartments

What is a cheap apartment in Gray's Lake?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Gray's Lake is under $745.

What is the price of a cheap apartment in Gray's Lake?

The cheapest apartment in Gray's Lake is Stockbridge Apartments which is listed at $650, while the average apartment in Gray's Lake costs $11,816.

What types of apartments are the cheapest in Gray's Lake?

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 104 regular apartments in Gray's Lake 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 Gray's Lake?

Cheap apartments in Gray's Lake have an average cost of $263 which is $11,553 cheaper than the average rent for all rentals in Gray's Lake.

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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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

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Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.