Cheap Apartments for Rent in the Gray's Lake Neighborhood of Des Moines, IA from $500 (114 Rentals)

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

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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The Art of the Rental Viewing: What to look for during a property tour

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$900 - $1,650Studio to 2 Bedroom Apartments Contact Us For Availability

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915 Mulberry StDes Moines, IA 50309
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$903 - $2,308Studio to 2 Bedroom Apartments Available Now

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2301 Ingersoll AveDes Moines, IA 50312
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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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

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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
Ivy IIClassic 1 bed/1 bath1BR,1BA$667
Ingersoll Park Studio Apartments 3607StudioStudio,1BA$675
Watrous ApartmentsA11BR,1BA$695
Pioneer EstatesB11BR,1BA$720
1201 E Bell AvenueOne Bedroom Southside of Des Moines *No App Fee*1BR,1BA$725
Windsor Terrace ApartmentsStudioStudio,1BA$725
Arlington HallettStudio SWStudio,1BA$725
The Pointe on FleurOne Bedroom Available-One Month Free Rent Speci...1BR,1BA$725

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

As of November 18, 2025 the best value apartment in the Gray's Lake area is the $0.81 price per square foot 2 BR/ 1 BA Model at 3612 Ingersoll Ave in the in the Southwest Des Moines neighborhood starting from $1,300. The second greatest value Gray's Lake apartment is the Plan B - two story Model at Southern Meadows Homes starting at $1,215 with a $0.88 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.
3612 Ingersoll Ave2 BR/ 1 BA2BR,1BA$0.81
Southern Meadows HomesPlan B - two story3BR,2BA$0.88
Wilkins BldgIncome Restricted2BR,1BA$1.06
Magnolia Park3rd Floor 2/2.02BR,2BA$0.85
Magnolia Manor Apartments and Townhomes2 Bedroom2BR,1BA$0.89
McKinley Apartments3BD/2BA3BR,2BA$0.99
Hamilton ApartmentsOne Bedroom1BR,1BA$0.84
Ingersoll TowersGreenwood2BR,1BA$0.97
The JeffersonJefferson 2bedroom2BR,1BA$0.90
Stockbridge Apartments1x1 670-7001BR,1BA$0.93

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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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
Gray's Lake, Des Moines, IA

Ranked #11

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 $725.

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 $5,764.

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 85 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 $271 which is $5,493 cheaper than the average rent for all rentals in Gray's Lake.

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.

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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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.