Cheap Apartments for Rent near Fayette, IA from $500 (33 Rentals)

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

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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131 S Vine St
1 to 2 Bedroom Apartments

131 S Vine St

131 S Vine StWest Union, IA 52175
  • Utilities Included

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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124 Earl St
1 to 2 Bedroom Apartments

124 Earl St

124-136 Earl StEvansdale, IA 50707

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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Westwood Apartments
2 Bedroom Apartments

Westwood Apartments

3270-3320 W 4th StWaterloo, IA 50701
  • Utilities Included

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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Showing Results 1-33, Page 1 of 1

Fayette, IA Local Guide

Cheapest Available Fayette Apartments for Rent and Nearby

 

The cheapest available apartment rental in Fayette, IA is a Studio unit found at Brookside Apartments priced from $525. The Meadows Apartments in the Southlawn Court neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $620. Here is today’s list of the most affordable Fayette apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Brookside ApartmentsStudio - BStudio,1BA$525
The Meadows ApartmentsOtter Creek 1Bd1BR,1BA$620
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$625
Russell LamsonStudioStudio,1BA$695
Kent CircleUpdated Cozy 1 Bedroom / 1 Bath Apartment in SW...1BR,1BA$745
Brentwood Estates ApartmentsSpacious One-Bedroom Apartment – Comfortable, P...1BR,1BA$795
124 Earl St2BR/1.0BA2BR,1BA$795
Union at North Crossing1 Bed 1 Bath1BR,1BA$800
University Manor1 BR/ 1 BA (Aug '25)1BR,1BA$815
Edgemont Park ApartmentsOne Bedroom Apartment With Balcony At Top Rated...1BR,1BA$895

Best Value Apartments for Rent in Fayette, IA and Nearby

As of August 20, 2026 the best value apartment in the Fayette area is the $0.85 price per square foot 3BR/2B Model at Lawler School Lofts in the starting from $1,017. The second greatest value Fayette apartment is the Private Bedroom in 4 Bed/2 Bath Student Apt Model at Elevate Apartments starting at $525 with a $0.46 price per square foot . Here is today’s list of the best values for Fayette apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lawler School Lofts3BR/2B3BR,2BA$0.85
Elevate ApartmentsPrivate Bedroom in 4 Bed/2 Bath Student Apt4BR,2BA$0.46
3714 Ravenwood Cir2 BR/ 2 BA2BR,2BA$1.10
Rolling Meadows Apartments3 bedroom/2bath3BR,2BA$0.96
West Brook ApartmentsBrand New 2 Bedroom/2 Bathroom Units at West Br...2BR,2BA$1.15
Pineview Place ApartmentsPrime Waterloo Living: 2-Bedroom / 1-Bath Apart...2BR,1BA$1.05
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.02
124 Earl St2BR/1.0BA2BR,1BA$1.13
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$1.02
The Meadows ApartmentsOtter Creek 1Bd1BR,1BA$1.03

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!

Explore Fayette, IA Rentals by Map

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See the most popular apartments and homes in Fayette, IA

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Frequently Asked Questions about Cheap Fayette Apartments

What is the Cheapest Studio apartment in Fayette?

Currently the most affordable Cheap Studio Apartment in Fayette is at Brookside Apartments listed at $525.

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

The lowest price for a Cheap One Bedroom Fayette Apartment is $620 at The Meadows Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Fayette is starting from $750 at The Meadows Apartments.

What is the most affordable Fayette Three Bedroom Apartment?

The best deal on a cheap Fayette Three Bedroom Apartment rental is at The Meadows Apartments and starts from $850.

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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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.

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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.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.