Cheap Apartments for Rent in the Gray's Lake Neighborhood of Des Moines, IA from $500 (111 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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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 Ingersoll Park Studio Apartments 3607 priced from $625. The Acacia has the second lowest priced unit, which is a Studio apartment currently listed from $647. Here are the most affordable Gray's Lake apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
Ingersoll Park Studio Apartments 3607StudioStudio,1BA$625
The AcaciaStudio - ClassicStudio,1BA$647
Stockbridge Apartments1x1 670-7001BR,1BA$650
Civic Center Court ApartmentsStudio - Apply NowStudio,1BA$700
Pioneer EstatesB11BR,1BA$700
The ElliottStudioStudio,1BA$710
The Pointe on FleurOne Bedroom Available-One Month Free Rent Speci...1BR,1BA$725
Windsor Terrace ApartmentsStudioStudio,1BA$725
Ivy IIClassic 1 bed/1 bath1BR,1BA$727
Watrous ApartmentsA11BR,1BA$756

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

As of October 04, 2025 the best value apartment in the Gray's Lake area is the $0.88 price per square foot 2 BR/ 1 BA Furnished Model at 3612 Ingersoll Ave in the in the Southwest Des Moines neighborhood starting from $1,400. The second greatest value Gray's Lake apartment is the 2/2.0 Model at Magnolia Park starting at $845 with a $0.85 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 BA Furnished2BR,1BA$0.88
Magnolia Park2/2.02BR,2BA$0.85
Magnolia Manor Apartments and Townhomes2 Bedroom2BR,1BA$0.89
Hamilton ApartmentsOne Bedroom1BR,1BA$0.84
Ingersoll TowersAshworth2BR,1BA$1.01
Park Ridge Apartments2 Bedroom2BR,1BA$0.98
1201 E Bell AvenueTwo Bedroom in Des Moines2BR,1BA$1.00
The JeffersonJefferson 2bedroom2BR,1BA$0.90
Stockbridge Apartments1x1 670-7001BR,1BA$0.93
The Pointe on FleurOne Bedroom Available-One Month Free Rent Speci...1BR,1BA$1.07

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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 $756.

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 $5,573.

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 77 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 $273 which is $5,300 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.

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.

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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! 

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

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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.