Cheap Apartments for Rent in the Greenwood Neighborhood of Des Moines, IA from $400 (142 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Greenwood area of Des Moines.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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Greenwood, Des Moines, IA Local Guide

Cheapest Available Greenwood Apartments for Rent

 

The cheapest available apartment rental in the Greenwood area of Des Moines, IA is a Studio unit found at Lenox Properties priced from $595. Village Green has the second lowest priced unit, which is a Studio apartment currently listed from $600. Here are the most affordable Greenwood apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
Lenox PropertiesGreenwood AStudio,1BA$595
Village GreenStudioStudio,1BA$600
The Concord BuildingStudioStudio,1BA$630
The AcaciaStudio - ClassicStudio,1BA$647
The Pointe on Fleur Apartments1x11BR,1BA$675
Hampton House ApartmentsStudioStudio,1BA$700
Beaverdale Housing LLCStudioStudio,1BA$710
Pleasant CourtStudioStudio,1BA$725
Old Main & Drake ApartmentsStudioStudio,1BA$785

Best Value Apartments for Rent in Greenwood, IA

As of May 23, 2026 the best value apartment in the Greenwood area is the $1.14 price per square foot B2 Model at Matilda 235 Townhomes in the in the Downtown Des Moines neighborhood starting from $2,450. The second greatest value Greenwood apartment is the 3 Bed | 2 Bath Model at 3000 Grand Apartments starting at $1,405 with a $1.02 price per square foot in the Southwest Des Moines neighborhood. Here is today’s list of the best values for Greenwood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Matilda 235 TownhomesB22BR,2.5BA$1.14
3000 Grand Apartments3 Bed | 2 Bath3BR,2BA$1.02
The ElmhurstModel A2BR,2BA$1.00
Alta Casa2 Beds, 1 bath2BR,1BA$1.14
MLK Brickstone ApartmentsTwo Bedroom2BR,2BA$0.95
933 18th StThe Olive1BR,1BA$1.06
722 18th St1x11BR,1BA$1.21
The Pointe on Fleur Apartments1x11BR,1BA$0.99
Village on Grand1 B 1 B1BR,1BA$1.21
The Concord BuildingStudioStudio ,1BA$1.20

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Lifestyle Ratings

ApartmentHomeLiving.com is proud to bring you comprehensive Lifestyle Ratings of neighborhoods, metropolitan areas, and rental properties across Iowa and customized analysis for Central Des Moines. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including our Star Ratings to compare for the best proximity to parks and outdoor amenities, luxury amenities, family-friendliness, raising pets, transit options, in addition to floorplans, availablity, and pricing. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Greenwood Apartments

What is a cheap apartment in Greenwood?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Greenwood is under $785.

What is the price of a cheap apartment in Greenwood?

The cheapest apartment in Greenwood is The Pointe on Fleur Apartments which is listed at $675, while the average apartment in Greenwood costs $1,622.

What types of apartments are the cheapest in Greenwood?

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 30 regular apartments in Greenwood 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 Greenwood?

Cheap apartments in Greenwood have an average cost of $456 which is $1,166 cheaper than the average rent for all rentals in Greenwood.

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

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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.