Cheap Homes for Rent in Gray's Lake Neighborhood of Des Moines, IA from $800 (14 Rentals)

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

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

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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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 1 Bed unit found at Watrous Apartments priced from $601. Ingersoll Park Studio Apartments 3607 has the second lowest priced unit, which is a Studio apartment currently listed from $675. Here are the most affordable Gray's Lake apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
Watrous ApartmentsA11BR,1BA$601
Ingersoll Park Studio Apartments 3607StudioStudio,1BA$675
1201 E Bell AvenueOne Bedroom Southside of Des Moines *No App Fee*1BR,1BA$725
Windsor Terrace ApartmentsStudioStudio,1BA$725
Pioneer EstatesB11BR,1BA$740

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

As of July 29, 2025 the best value apartment in the Gray's Lake area is the $0.89 price per square foot 2 Bedroom Model at Magnolia Manor Apartments and Townhomes in the in the Southwest Des Moines neighborhood starting from $850. The second greatest value Gray's Lake apartment is the One Bedroom Model at Hamilton Apartments starting at $800 with a $0.84 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.
Magnolia Manor Apartments and Townhomes2 Bedroom2BR,1BA$0.89
Hamilton ApartmentsOne Bedroom1BR,1BA$0.84
Goldbriar Chateau2 Bedroom 1 Bathroom2BR,1BA$0.94
The Pointe on FleurOne Month FREE Rent - 2 Bedrooms2BR,1BA$0.87
The JeffersonFully Renovated with Balcony2BR,1BA$0.95
BNL Investments2BR/1.0BA2BR,1BA$1.06
Ivy II (Kenwood II)Elevated 2 bed/1.5 Bath2BR,1.5BA$1.09
Park Ridge Apartments1 Bedroom1BR,1BA$1.11
1201 E Bell AvenueOne Bedroom Southside of Des Moines *No App Fee*1BR,1BA$1.09
Watrous ApartmentsA11BR,1BA$0.92

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Frequently Asked Questions about Gray's Lake

What type of rentals are currently available in Gray's Lake?

There are currently 254 Apartments for Rent in Gray's Lake, IA with pricing that ranges from $601 to $4,991. There are also 41 Single Family Homes for rent, Condos, and Townhome rentals currently available in Gray's Lake ranging from $825 to $2,450.

What is the current price range for Rental Homes in Gray's Lake?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Gray's Lake ranges from $825 to $2,450 with an average monthly rent of $1,608.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

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

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.