Cheap Apartments for Rent in Independence, IA from $500 (43 Rentals)

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

property at 416 1/2 3rd st NW

$565

Total Monthly Price

Total Monthly Price

Base Rent
$565
Total Monthly Price
$565

1 Bedroom, 1 Bath Townhome for Rent

Available Now

416 1/2 3rd st NW

IndependenceIA50644

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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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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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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Urban Edge Apartments
1 to 2 Bedroom Apartments

Urban Edge Apartments

401 Canton St NWShellsburg, IA 52332
  • 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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124 Earl St
1 to 2 Bedroom Apartments

124 Earl St

124-136 Earl StEvansdale, IA 50707
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Westwood Apartments
2 Bedroom Apartments

Westwood Apartments

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

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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Showing Results 1-43, Page 1 of 1

Independence, IA Local Guide

Cheapest Available Independence Apartments for Rent and Nearby

 

The cheapest available apartment rental in Independence, IA is a 1 Bed unit found at The Meadows Apartments in the Southlawn Court neighborhood priced from $620. Meadow Ridge Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $625. Here is today’s list of the most affordable Independence apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Meadows ApartmentsOtter Creek 1Bd1BR,1BA$620
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$625
Prairie Village of LaPorte City1 Bedroom1BR,1BA$643
Brookside ApartmentsOne-Bedroom Apartment1BR,1BA$650
Russell LamsonStudioStudio,1BA$695
Kingswood PlaceHuge Updated One Bedroom Apartment with Walk-in...1BR,1BA$775
Union at North Crossing1 Bed 1 Bath1BR,1BA$800
Edgemont Park ApartmentsEdgemont EfficiencyStudio,1BA$805
Le Chateau2BR/1.5BA2BR,1BA$850
Leavitt Park Apartments - Waterloo, IA***FIRST MONTH FREE!*** 2 Bed 1 Bath | Leavitt ...2BR,1BA$920

Best Value Apartments for Rent in Independence, IA and Nearby

As of August 05, 2026 the best value apartment in the Independence area is the $1.10 price per square foot 2 BR/ 2 BA Model at 3714 Ravenwood Cir in the starting from $1,150. The second greatest value Independence apartment is the 2bed/1bath Model at Prairie Rapids starting at $1,175 with a $1.15 price per square foot . Here is today’s list of the best values for Independence apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
3714 Ravenwood Cir2 BR/ 2 BA2BR,2BA$1.10
Prairie Rapids2bed/1bath2BR,1BA$1.15
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
Le Chateau2BR/1.5BA2BR,1.5BA$0.90
Kingswood PlaceHuge Updated One Bedroom Apartment with Walk-in...1BR,1BA$1.05
Union at North Crossing1 Bed 1 Bath1BR,1BA$1.16
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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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Independence, IA Rentals by Map

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See the most popular apartments and homes in Independence, IA

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Frequently Asked Questions about Cheap Independence Apartments

What is the Cheapest Studio apartment in Independence?

Currently the most affordable Cheap Studio Apartment in Independence is at Russell Lamson listed at $695.

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

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

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

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

What is the most affordable Independence Three Bedroom Apartment?

The best deal on a cheap Independence 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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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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.