Cheap Apartments for Rent in the Prospect Park Neighborhood of Des Moines, IA from $480 (132 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 1260 34th St

$695 - $860

1 To 2 Bedroom Rentals

Available Sep 2

1260 34th St

Des MoinesIA50311

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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

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Prospect Park, Des Moines, IA Local Guide

Cheapest Available Prospect Park Apartments for Rent

 

The cheapest available apartment rental in the Prospect Park area of Des Moines, IA is a 1 Bed unit found at 732 19th St priced from $550. Highland Park Manor has the second lowest priced unit, which is a 1 Bed apartment currently listed from $597. Here are the most affordable Prospect Park apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
732 19th St1 Beds, 1 Baths1BR,1BA$550
Highland Park ManorStandard 1 Bed1BR,1BA$597
Highland Park ApartmentsStandard 1 Bed1BR,1BA$597
319 Franklin Ave1BR/1.0BA1BR,1BA$599
3309 University Ave0BR/1.0BAStudio,1BA$600
The Concord BuildingStudioStudio,1BA$630
Douglas Oaks0BR/1.0BAStudio,1BA$650
Northtown Apartments1 Bedroom 1 Bathroom1BR,1BA$695
The Grove at Hickman1x11BR,1BA$695
Legacy MeadowsA1 Classic1BR,1BA$695

Best Value Apartments for Rent in Prospect Park, IA

As of August 23, 2026 the best value apartment in the Prospect Park 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 Prospect Park apartment is the Model C Model at The Elmhurst starting at $865 with a $0.96 price per square foot in the Downtown Des Moines neighborhood. Here is today’s list of the best values for Prospect Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Matilda 235 TownhomesB22BR,2.5BA$1.14
The ElmhurstModel C1BR,1BA$0.96
713 20th St, Unit 1915-3713 20th St2BR,1BA$1.03
2820-2822 Kingman Blvd1 Beds, 1 Baths1BR,1BA$0.99
Welbeck ApartmentsLegacy 2Br/1Ba2BR,1BA$0.99
Legacy MeadowsB3 Partial Renovation2BR,1BA$1.15
Riverview Oaks Apartments1 Bedroom 1 Bathroom1BR,1BA$1.15
MLK Brickstone ApartmentsOne Bedroom1BR,1BA$1.12
Highland Park ApartmentsStandard 1 Bed1BR,1BA$1.09
Highland Park ManorStandard 1 Bed1BR,1BA$1.09

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

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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
Prospect Park, Des Moines, IA

Ranked #29

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
Prospect Park, Des Moines, IA

School data provided by Great Schools

Lifestyle Ratings

Our team compares millions of points of data to bring you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Des Moines. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for convenient access to the outdoors, luxury amenities, kid and pet-friendly communities, availability of transit options, and how walkable or bikeable each community and area is. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Prospect Park Apartments

What is a cheap apartment in Prospect Park?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Prospect Park is under $695.

What is the price of a cheap apartment in Prospect Park?

The cheapest apartment in Prospect Park is 732 19th St which is listed at $550, while the average apartment in Prospect Park costs $1,090.

What types of apartments are the cheapest in Prospect Park?

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 5 regular apartments in Prospect Park 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 Prospect Park?

Cheap apartments in Prospect Park have an average cost of $576 which is $514 cheaper than the average rent for all rentals in Prospect Park.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.