Cheap Apartments for Rent near Wapello, IA from $500 (49 Rentals)

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

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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630 N 6th St
Studio to 1 Bedroom Apartments

630 N 6th St

630 N 6th StBurlington, IA 52601

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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Mediapolis Village
2 to 4 Bedroom Apartments

Mediapolis Village

510 Wapello St SMediapolis, IA 52637
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1165 S Riverside Dr
Studio to 3 Bedroom Apartments

1165 S Riverside Dr

1165 S Riverside DrIowa City, IA 52246
Student Housing
  • Utilities Included
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SoDo Flats
Studio to 2 Bedroom Apartments

SoDo Flats

322 E Prentiss StIowa City, IA 52240
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631 S Van Buren St
1 to 3 Bedroom Apartments

631 S Van Buren St

631 S Van Buren StIowa City, IA 52240
Student Housing
  • Utilities Included
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Hawkeye Park
1 to 2 Bedroom Apartments

Hawkeye Park

432 S Dubuque StIowa City, IA 52240
Student Housing
  • 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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The Overlook
1 to 2 Bedroom Apartments

The Overlook

3155 Shire LnIowa City, IA 52240
  • Utilities Included
property at 116 N 4th St

$1,165 - $1,595

2 To 3 Bedroom Rentals

Available Now

116 N 4th St

BurlingtonIA52601
property at 116 N 5th St

$1,050 - $1,250

2 Bedroom Rentals

Available Now

116 N 5th St

BurlingtonIA52601
Showing Results 1-49, Page 1 of 1

Wapello, IA Local Guide

Cheapest Available Wapello Apartments for Rent and Nearby

 

The cheapest available apartment rental in Wapello, IA is a Studio unit found at Welch Hotel Senior Apartments in the Oak Ridge neighborhood priced from $650. Park Madison Apartments in the Ginger Ridge neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable Wapello apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Welch Hotel Senior ApartmentsStudioStudio,1BA$650
Park Madison Apartments1BR/1BA1BR,1BA$750
Caspian Village Apartments1 Bedroom, 1 Bathroom1BR,1BA$750
Summer Street Apartments1BD/1BA1BR,1BA$750
Green Gable CottagesGreen Gable 1 Bedroom1BR,1BA$750
Bel Aire Apartments2 Bedrooms2BR,1BA$795
Walcott Manor Apartments2 BR/ 1 BA2BR,1BA$825
Westland Village2x12BR,1BA$850
Hawthorne Townhomes2 Bedrooms 2 Bath2BR,1BA$860
Stonegate Village ApartmentsOne Bedroom1BR,1BA$860

Best Value Apartments for Rent in Wapello, IA and Nearby

As of August 06, 2026 the best value apartment in the Wapello area is the $0.76 price per square foot 2 Bedroom Model at Nemitz Hall in the in the Threshers Meadows neighborhood starting from $1,095. The second greatest value Wapello apartment is the D - 2x2 Model at The Quarters Iowa City starting at $855 with a $0.69 price per square foot in the Fair Meadows neighborhood. Here is today’s list of the best values for Wapello apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Nemitz Hall2 Bedroom2BR,2BA$0.76
The Quarters Iowa CityD - 2x22BR,2BA$0.69
Dodge Street Apartments620 S. Dodge St.3BR,1BA$1.07
Blaul LoftsBlaul Lofts - 2082BR,1BA$1.00
Westland Village2x12BR,1BA$0.89
Hawthorne Townhomes2 Bedrooms 2 Bath2BR,1.5BA$0.91
MAPLE PLACE APARTMENTS3 Bed 1 Bath Townhome3BR,1BA$0.93
Summer Street Apartments1BD/1BA1BR,1BA$0.83
Walcott Manor Apartments2 BR/ 1 BA2BR,1BA$1.03
Park Madison Apartments1BR/1BA1BR,1BA$1.00

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 Wapello, IA Rentals by Map

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Frequently Asked Questions about Cheap Wapello Apartments

What is the Cheapest Studio apartment in Wapello?

Currently the most affordable Cheap Studio Apartment in Wapello is at Welch Hotel Senior Apartments listed at $650.

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

The lowest price for a Cheap One Bedroom Wapello Apartment is $750 at Park Madison Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Wapello is starting from $795 at Bel Aire Apartments.

What is the most affordable Wapello Three Bedroom Apartment?

The best deal on a cheap Wapello Three Bedroom Apartment rental is at MAPLE PLACE APARTMENTS and starts from $870.

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.

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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.

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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.