Cheap Homes for Rent in Gray's Lake Neighborhood of Des Moines, IA from $900 (15 Rentals)

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

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property at 5812 SW 12th St

5812 SW 12th St

Des MoinesIA50315
Showing Results 1-15, Page 1 of 1

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 Melbourne priced from $545. Southern Knolls (Watrous) has the second lowest priced unit, which is a 1 Bed apartment currently listed from $600. Here are the most affordable Gray's Lake apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
MelbourneA1 - 40 - Income Restricted1BR,1BA$545
Southern Knolls (Watrous)A11BR,1BA$600
Ingersoll Park Studios0BR/1.0BAStudio,1BA$625
Ingersoll Park Studio Apartments 3607StudioStudio,1BA$625
The Pointe on Fleur1x11BR,1BA$685

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

As of June 11, 2025 the best value apartment in the Gray's Lake area is the $0.81 price per square foot 2 Bedroom - Affordable Model at Vine Street Lofts in the in the Southwest Des Moines neighborhood starting from $957. The second greatest value Gray's Lake apartment is the CA-C4 Income Restricted Model at Court Ave Lofts starting at $1,080 with a $1.09 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.
Vine Street Lofts2 Bedroom - Affordable2BR,2BA$0.81
Court Ave LoftsCA-C4 Income Restricted2BR,2BA$1.09
Magnolia Manor Apartments and Townhomes2 Bedroom2BR,1BA$0.89
Hamilton ApartmentsOne Bedroom1BR,1BA$0.84
McKinley Apartments2BD/2BA2BR,2BA$0.93
The 31st Street ApartmentsOne Bedroom + Den1BR,1BA$1.01
Sevastopol Station1 Bedroom 1 Bathroom1BR,1BA$1.10
Park Ridge Apartments1 Bedroom1BR,1BA$1.11
The Pointe on Fleur1x11BR,1BA$1.01
Southern Knolls (Watrous)A11BR,1BA$0.92

Quick Rent Budget Calculator

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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 247 Apartments for Rent in Gray's Lake, IA with pricing that ranges from $545 to $3,320. There are also 27 Single Family Homes for rent, Condos, and Townhome rentals currently available in Gray's Lake ranging from $950 to $2,150.

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 $950 to $2,150 with an average monthly rent of $1,713.

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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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.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.