Cheap Apartments for Rent near Panama, IA from $500 (47 Rentals)

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

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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The Brandeis
$1,004 - $2,504
Total Monthly Price

Total Monthly Price

Base Rent
$1,004 - $2,504
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

The Brandeis

210 S 16th StOmaha, NE 68102
Corporate Housing
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  • 3D Tour

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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Valley View Estates
Rent Specials
$1,185 - $1,850
Total Monthly Price

Total Monthly Price

Base Rent
$1,185 - $1,850
Total Monthly Price
$1,185 - $1,850
1 to 3 Bedroom Apartments Available Now

Valley View Estates

720 Valley View DrCouncil Bluffs, IA 51503
Corporate Housing
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Dana Village
Studio to 2 Bedroom Apartments

Dana Village

2854 Angels Share DrBlair, NE 68008
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22 Floors
Studio to 1 Bedroom Apartments

22 Floors

1314 Mike Fahey StOmaha, NE 68102

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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3633 Avenue A
2 to 3 Bedroom Apartments

3633 Avenue A

3633 Avenue ACouncil Bluffs, IA 51501
  • Utilities Included
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The Greenhouse
1 to 3 Bedroom Apartments

The Greenhouse

900 Farnam StOmaha, NE 68102
Corporate Housing

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 1-47, Page 1 of 1

Panama, IA Local Guide

Cheapest Available Panama Apartments for Rent and Nearby

 

The cheapest available apartment rental in Panama, IA is a 2 Beds unit found at 1209 Maple St priced from $700. Larimore Senior Residences in the Omaha View neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $760. Here is today’s list of the most affordable Panama apartments for rent:

Apartment ListingModel NameBed/BathPriced From
1209 Maple St2 BED / 1 BATH2BR,1BA$700
Larimore Senior ResidencesOne Bed/One Bat 60%1BR,1BA$760
Woodland ApartmentsOne Bedroom/One Bath1BR,1BA$781
Westwood Apartments2 BD2BR,1BA$785
Residences at Sorensen Square1BR/1.0BA1BR,1BA$800
Maple SecondOne Bed/One Bath | 1-11BR,1BA$875
Featherstone ApartmentsOne Bedroom | One Bath1BR,1BA$900
Sherwood Forest Estates1 Bedroom 1 Bath Small1BR,1BA$910
Regency Villa of HarlanRegency Villa 1 Bedroom1BR,1BA$917
NOVA ApartmentsEclipseStudio,1BA$925

Best Value Apartments for Rent in Panama, IA and Nearby

As of July 29, 2026 the best value apartment in the Panama area is the $1.11 price per square foot AC.2B.2B.G Model at The Brandeis in the in the Old Market neighborhood starting from $1,354. The second greatest value Panama apartment is the 3 Bed 2 Bath Single Section Model at Lakeside Estates starting at $1,449 with a $1.19 price per square foot in the Sherman neighborhood. Here is today’s list of the best values for Panama apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The BrandeisAC.2B.2B.G2BR,2BA$1.11
Lakeside Estates3 Bed 2 Bath Single Section3BR,2BA$1.19
Tigertown Plaza3BR/2.0BA3BR,2BA$1.24
Highclere Apartments2 Beds 2 Baths2BR,2BA$1.25
The Archive1BR/1.0BA1BR,1BA$1.11
Westwood Apartments2 BD2BR,1BA$0.75
Deerfield ApartmentsBirch2BR,2BA$1.10
Cottonwood Apartments2X1B2BR,1BA$1.08
Riverbend - Newly Renovated! Call today!One Bedroom1BR,1BA$1.24
Larimore Senior ResidencesOne Bed/One Bat 60%1BR,1BA$1.13

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 Panama, IA Rentals by Map

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Frequently Asked Questions about Cheap Panama Apartments

What is the Cheapest Studio apartment in Panama?

Currently the most affordable Cheap Studio Apartment in Panama is at NOVA Apartments listed at $925.

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

The lowest price for a Cheap One Bedroom Panama Apartment is $760 at Larimore Senior Residences.

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

Today's best deal for a Cheap Two Bedroom Apartment in Panama is starting from $700 at 1209 Maple St.

What is the most affordable Panama Three Bedroom Apartment?

The best deal on a cheap Panama Three Bedroom Apartment rental is at Featherstone Apartments and starts from $1,200.

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.

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.

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.