Cheap Apartments for Rent in Ely, IA from $400 (47 Rentals)

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Search the lowest-cost Apartments available for rent right now in Ely.

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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CR Legacy
3 to 4 Bedroom Apartments

CR Legacy

100-200 66th Ave SWCedar Rapids, IA 52404
  • Utilities Included
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1716 D Ave NE
1 to 2 Bedroom Apartments

1716 D Ave NE

1716 D Ave NECedar Rapids, IA 52402
  • Utilities Included
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North Ridge
2 Bedroom Apartments

North Ridge

1820 A Ave NECedar Rapids, IA 52402
Corporate Housing
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1810 A Ave NE
1 Bedroom Apartments

1810 A Ave NE

1810 A Ave NECedar Rapids, IA 52402
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Westcove North
2 Bedroom Apartments

Westcove North

3507 Queen Dr SWCedar Rapids, IA 52404
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Geneva Tower
Studio to 1 Bedroom Apartments

Geneva Tower

310 5th Ave SECedar Rapids, IA 52401
Senior Living
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Annex on the Square
Studio to 2 Bedroom Apartments

Annex on the Square

501 4th Ave SECedar Rapids, IA 52401
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Westcove
2 Bedroom Apartments

Westcove

3615 Queen Dr SWCedar Rapids, IA 52404

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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Miller Avenue Estates
1 to 4 Bedroom Apartments

Miller Avenue Estates

64 Miller Ave SWCedar Rapids, IA 52404
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3000 Bever Ave SE
3 Bedroom Apartments

3000 Bever Ave SE

3000 Bever Ave SECedar Rapids, IA 52403

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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Showing Results 1-47, Page 1 of 1

Ely, IA Local Guide

Cheapest Available Ely Apartments for Rent and Nearby

 

The cheapest available apartment rental in Ely, IA is a 1 Bed unit found at Village in the Young's Hill neighborhood priced from $635. Southview Apartments in the Young's Hill neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $650. Here is today’s list of the most affordable Ely apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Village1 Bedroom1BR,1BA$635
Southview ApartmentsSouthview 1 bedroom Classic1BR,1BA$650
C Street Townhomes2 bedrrom -side by side townhome2BR,2BA$725
Oak Hill Jackson Brickstones1 Bedroom1BR,1BA$860
Geneva Tower1 Bedroom MKT0611BR,1BA$885
Annex on the SquareCurrent 60%Studio,1BA$887
Union at Wiley2 Bed 2 Bath2BR,1BA$995
Vive Senior ApartmentsOne Bedroom1BR,1BA$999
Commonwealth2BR 2 Bedroom 50%2BR,2BA$1,008
3000 Bever Ave SE3x13BR,1BA$1,195

Best Value Apartments for Rent in Ely, IA and Nearby

As of May 17, 2026 the best value apartment in the Ely area is the $1.59 price per square foot Layout 2C Model at NewBo Lofts in the in the Young's Hill neighborhood starting from $1,795. The second greatest value Ely apartment is the 3x1 Model at 3000 Bever Ave SE starting at $1,195 with a $1.12 price per square foot in the Wellington Heights neighborhood. Here is today’s list of the best values for Ely apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
NewBo LoftsLayout 2C2BR,2BA$1.59
3000 Bever Ave SE3x13BR,1BA$1.12
Commonwealth2BR 2 Bedroom 50%2BR,2BA$1.11
C Street Townhomes2 bedrrom -side by side townhome2BR,2BA$0.84
Union at Wiley2 Bed 2 Bath2BR,1BA$1.16
The Roosevelt1 Bedroom1BR,1BA$1.24
Oak Hill Jackson Brickstones1 Bedroom1BR,1BA$1.28
Vive Senior ApartmentsOne Bedroom1BR,1BA$1.53
Southview ApartmentsSouthview 1 bedroom Classic1BR,1BA$1.02
Annex on the SquareCurrent 60%Studio ,1BA$1.43

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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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Cheap Ely Apartments

How much is rent for a Cheap One Bedroom Ely Apartment?

The lowest price for a Cheap One Bedroom Ely Apartment is $635 at Village.

What is the lowest price for a Cheap Two Bedroom Ely Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Ely is starting from $675 at Village.

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

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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.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.