Cheap Homes for Rent in Iowa City, IA from $700 (43 Rentals)

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Search the lowest-cost Homes available for rent right now in Iowa City.

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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property at 2432 Rushmore Dr

2432 Rushmore Dr

Iowa CityIA52246

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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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property at 1853 Hollywood Ct

1853 Hollywood Ct

Iowa CityIA52240

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Iowa City, IA Local Guide

Cheapest Neighborhoods for Apartments in Iowa City, IA

Pricing Updated: 06/24/2025

Current apartment rentals in the Iowa City, IA area range in price from $725 to $3,500 with an overall median price of $3,079. The three Iowa City neighborhoods with the lowest median rent pricing are Peninsula Neighborhood at $925, Cottage Hill at $1,010, and Horn at $1,010. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Iowa City Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Peninsula Neighborhood$2,450$9255
Cottage Hill$2,800$1,0108
Horn$2,800$1,01015
Roosevelt$2,800$1,0109
Ruppert Hills$2,800$1,0108
Terrace Hill$2,800$9258
Weber$2,800$99514
Westgate$2,800$1,01015
South Iowa City$2,900$72511
Court Hill$3,200$72515

Cheapest Available Iowa City Apartments for Rent

 

The cheapest available apartment rental in Iowa City, IA is a Studio unit found at Lakewood Hills Apartments in the Old Mill Creek neighborhood priced from $695. Aspire at West Campus in the Coralview Heights neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $699. Here is today’s list of the most affordable Iowa City apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lakewood Hills ApartmentsStudio GoldStudio,1BA$695
Aspire at West Campus2x2 Herky - Unfurnished2BR,2BA$699
Knollridge Garden Apartments2BR/1.0BA2BR,1BA$875
River Ridge PlaceStudio/1BA 407 sq ftStudio,1BA$920
Regency Heights (55+ Community)One Bedroom1BR,1BA$935
Claremont Apartments2BR/1.0BA2BR,1BA$985
1165 S Riverside DrStudio - TwinStudio,1BA$990
Riverfront CrossingsStudioStudio,1BA$995
The Quarters Iowa CityF2 - 1x11BR,1BA$1,050
Orchards & Woodlands2BR/1.0BA2BR,1BA$1,100

Best Value Apartments for Rent in Iowa City, IA

As of June 24, 2025 the best value apartment in the Iowa City area is the $1.42 price per square foot B Model at The Hawthorne in the in the The Pond's Edge neighborhood starting from $1,700. The second greatest value Iowa City apartment is the 3 Bed / 2 Bath with W/D Model at Mane Gate Apartments starting at $1,405 with a $1.21 price per square foot in the Fair Meadows neighborhood. Here is today’s list of the best values for Iowa City apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The HawthorneB2BR,2BA$1.42
Mane Gate Apartments3 Bed / 2 Bath with W/D3BR,2BA$1.21
The Hampton at Coral Ridge2 Bedroom 1.5 Bath Townhouse2BR,1.5BA$1.47
Orchards & Woodlands2BR/1.0BA2BR,1BA$1.21
1453-1458 Eastview Dr1453 Eastview2BR,1.5BA$1.21
Claremont Apartments2BR/1.0BA2BR,1BA$1.12
Coral Ridge Senior (55+) ApartmentsTwo Bedroom B2BR,1BA$1.59
The Nest Iowa CityB3 - 2x22BR,2BA$1.59
Knollridge Garden Apartments2 Bedroom2BR,1BA$1.09
Regency Heights (55+ Community)One Bedroom1BR,1BA$1.53

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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Frequently Asked Questions about Iowa City

What type of rentals are currently available in Iowa City?

There are currently 260 Apartments for Rent in Iowa City, IA with pricing that ranges from $620 to $3,350. There are also 102 Single Family Homes for rent, Condos, and Townhome rentals currently available in Iowa City ranging from $725 to $3,800.

What is the current price range for Rental Homes in Iowa City?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Iowa City ranges from $725 to $3,800 with an average monthly rent of $1,891.

How much are larger Three and Four Bedroom Rentals in Iowa City?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Iowa City range from $650 to $3,300, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,125 to $3,200. Four Bedroom Single-Family rentals are also available starting from $1,950 and Four Bedroom Apartments start at $729.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.