Cheap Apartments for Rent in Waterloo, IA from $300 (75 Rentals)

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

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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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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Marsh Place Apartments
1 to 2 Bedroom Apartments

Marsh Place Apartments

627 Sycamore StWaterloo, IA 50703
  • Utilities Included

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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3719 W 9th Apartments
1 to 2 Bedroom Apartments

3719 W 9th Apartments

3719 W 9th StWaterloo, IA 50702
  • Utilities Included
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1937 Pinehurst Ln
1 Bedroom Apartments

1937 Pinehurst Ln

1937 Pinehurst LnWaterloo, IA 50701
  • Utilities Included
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Cedar Crest Apartments
1 to 4 Bedroom Apartments

Cedar Crest Apartments

405 W Donald StWaterloo, IA 50703
  • Utilities Included

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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Crossroads Square
1 Bedroom Apartments

Crossroads Square

1820 E Ridgeway AveWaterloo, IA 50702
  • Utilities Included

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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Waterloo, IA Local Guide

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Cheapest Neighborhoods for Apartments in Waterloo, IA

Pricing Updated: 05/28/2026

Current apartment rentals in the Waterloo, IA area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Waterloo Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Waterloo$1,145$60028

Cheapest Available Waterloo Apartments for Rent

 

The cheapest available apartment rental in Waterloo, IA is a 4 Beds unit found at The Residences on College Hill in the Downtown Cedar Falls neighborhood priced from $350. 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 Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Residences on College Hill4 Bed 1 Bath Apartment4BR,1BA$350
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$625
Brookside ApartmentsOne-Bedroom Apartment1BR,1BA$650
Russell LamsonStudioStudio,1BA$652
Kent CircleUpdated Cozy 1 Bedroom / 1 Bath Apartment in SW...1BR,1BA$760
Falls Edge StudiosStudio B REVStudio,1BA$815
Park @ Nine23A11BR,1BA$850

Best Value Apartments for Rent in Waterloo, IA

As of May 28, 2026 the best value apartment in the Waterloo area is the $0.97 price per square foot 1003 Bluff St Model at 1003 Bluff St, Unit 1003 Bluff St in the in the Downtown Cedar Falls neighborhood starting from $1,600. The second greatest value Waterloo apartment is the LS 3x1.5 Model at Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms starting at $1,200 with a $0.94 price per square foot . Here is today’s list of the best values for Waterloo apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1003 Bluff St, Unit 1003 Bluff St1003 Bluff St4BR,2BA$0.97
Lantern Square Apartments Spacious 1, 2 & 3 BedroomsLS 3x1.53BR,1.5BA$0.94
Pineview Place ApartmentsBeautiful HUGE 3 Bedroom/2 Bath Apartment in Gr...3BR,2BA$1.02
Riverwalk Residences1st Month Free2BR,2BA$1.19
Meadowbrook Apartments2 Bed / 2 Bath - Available Now!2BR,2BA$1.23
3714 Ravenwood Cir2 BR/ 2 BA2BR,2BA$1.10
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.02
2116 Olive St2116 Olive St1BR,1BA$0.95
832 W 1st St, Unit 832 1/2 W832 W 1st St1BR,1BA$1.09
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$1.02

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

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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Waterloo Overview

Black Hawk County, located in Iowa, is a beautiful part of the country. One of the jewels is Waterloo, IA, which is the county seat. Waterloo is not far from Cedar Falls, however, it still has beautiful living opportunities in its own right. If you are looking for apartments in Waterloo, Iowa, what do you need to know about this area? Take a look at some important information and find the best Waterloo apartments in the region.á

Why live in Waterloo, IA?

There are lots of reasons why people choose to live in the beautiful area of Waterloo. First, traffic is relatively light, allowing people to spend more time doing what they love instead of sitting in traffic. Next, the cost of living in Waterloo is very low. That is because real estate is not that expensive. Finally, there are lots of friendly people who live in Waterloo as well. Lots of people are willing to help each other out, making Waterloo a beautiful place for young professionals and family.á

Best Local Schools in
Waterloo, IA

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Waterloo, IA Rentals by Map

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See the most popular apartments and homes in Waterloo, IA

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Frequently Asked Questions about Cheap Waterloo Apartments

What is a cheap apartment in Waterloo?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Waterloo is under $850.

What is the price of a cheap apartment in Waterloo?

The cheapest apartment in Waterloo is Meadow Ridge Apartments which is listed at $625, while the average apartment in Waterloo costs $1,145.

What types of apartments are the cheapest in Waterloo?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 4 regular apartments in Waterloo that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Waterloo?

Cheap apartments in Waterloo have an average cost of $681 which is $464 cheaper than the average rent for all rentals in Waterloo.

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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.