Cheap Apartments for Rent in the Gray's Lake Neighborhood of Des Moines, IA from $500 (124 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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The Des Moines Building
Rent Specials
$705 - $1,250
Total Monthly Price

Total Monthly Price

Base Rent
$700 - $1,245
Required Monthly Fees
$5
Total Monthly Price
$705 - $1,250
Studio to 2 Bedroom Apartments Available Now

The Des Moines Building

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

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City Square Lofts
Rent Specials
$727 - $2,666
Total Monthly Price

Total Monthly Price

Base Rent
$694 - $2,633
Required Monthly Fees
$33
Total Monthly Price
$727 - $2,666
Studio to 3 Bedroom Apartments Available Now

City Square Lofts

240 E Walnut StDes Moines, IA 50309
Transit Friendly
  • Verified
  • 3D Tour
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Park Ridge Apartments
Rent Specials
$775 - $925
Total Monthly Price

Total Monthly Price

Base Rent
$775 - $925
Total Monthly Price
$775 - $925
1 to 2 Bedroom Apartments Available Now

Park Ridge Apartments

3200 Indianola AveDes Moines, IA 50315
Cost Per Sq.Ft.
  • Verified
  • Customer Reviewed
  • Utilities Included

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The Village at Grays Lake
Rent Specials
$899 - $1,049
Total Monthly Price

Total Monthly Price

Base Rent
$794 - $944
Required Monthly Fees
$105
Total Monthly Price
$899 - $1,049
1 to 2 Bedroom Apartments Available Now

The Village at Grays Lake

2270 Bell AveDes Moines, IA 50321
Family Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour
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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
Corporate Housing
  • Verified
  • Customer Reviewed
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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Rowat Lofts Apartments
Rent Specials
$945 - $1,595
Total Monthly Price

Total Monthly Price

Base Rent
$940 - $1,590
Required Monthly Fees
$5
Total Monthly Price
$945 - $1,595
Studio to 2 Bedroom Apartments Available Now

Rowat Lofts Apartments

601 E Vine StDes Moines, IA 50309
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour
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Finn Apartments
Rent Specials
$970 - $1,045
Total Monthly Price

Total Monthly Price

Base Rent
$965 - $1,040
Required Monthly Fees
Varies
Total Monthly Price
Varies
2 Bedroom Apartments Available Now

Finn Apartments

2221 Stanton AveDes Moines, IA 50321
Cost Per Sq.Ft.
  • Verified
  • Customer Reviewed
  • 3D Tour

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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
Pioneer EstatesB11BR,1BA$699
The Des Moines BuildingStudioStudio,1BA$705
Watrous ApartmentsA11BR,1BA$708
The Pointe on FleurOne Bedroom Available-$500 Rent Credit-Call for...1BR,1BA$725
City Square LoftsS1Studio,1BA$727
Ivy IIElevated 1 bed/1 bath1BR,1BA$747
Wakonda Village and Manor Apartment HomesS1PwvStudio,1BA$750
Park Ridge Apartments1 Bedroom1BR,1BA$775

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

As of April 03, 2026 the best value apartment in the Gray's Lake area is the $0.75 price per square foot 2 BR/ 1 BA Model at 3612 Ingersoll Ave in the in the Southwest Des Moines neighborhood starting from $1,200. 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.
3612 Ingersoll Ave2 BR/ 1 BA2BR,1BA$0.75
Southern Meadows HomesPlan B - two story3BR,2BA$0.93
Finn Apartmentsfin-2r2BR,2BA$0.97
Magnolia Park2/2.02BR,2BA$0.78
560 29th St560 29th St2BR,1BA$0.98
Magnolia Manor Apartments and Townhomes2 Bedroom2BR,1BA$0.89
Goldbriar Chateau2 Bedroom 1 Bathroom2BR,1BA$0.94
McKinley Apartments2BD/2BA2BR,2BA$0.89
1201 E Bell Avenue2BR/1.0BA2BR,1BA$0.94
Stockbridge Apartments1x1 670-7001BR,1BA$0.93

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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 #13

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 the Cheapest Studio apartment in Gray's Lake?

Currently the most affordable Cheap Studio Apartment in Gray's Lake is at The Acacia listed at $647.

How much is rent for a Cheap One Bedroom Gray's Lake Apartment?

The lowest price for a Cheap One Bedroom Gray's Lake Apartment is $650 at Stockbridge Apartments.

What is the lowest price for a Cheap Two Bedroom Gray's Lake Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Gray's Lake is starting from $775 at Magnolia Park.

What is the most affordable Gray's Lake Three Bedroom Apartment?

The best deal on a cheap Gray's Lake Three Bedroom Apartment rental is at The Pointe on Fleur and starts from $1,025.

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

Written by: Lauren Harrington

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.