227 Allen St
WaterlooIA50701
Cheap Apartments for Rent in Waterloo, IA from $400 (32 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterloo.
808-810 W 2nd St
WaterlooIA50701
820 W 2nd St
WaterlooIA50701
43 Mulberry St
WaterlooIA50703
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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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from $6751 to 3 Bedroom Apartments Available Now
Meadow Ridge Apartments
765-791 Russell RdWaterloo, IA 50701
117 1/2 Lafayette St
WaterlooIA50703
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from $7501 Bedroom Apartments Available Jul 14
1106-1110 Kent Circle
1105-1110 Kent CirWaterloo, IA 50701
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from $795Studio to 2 Bedroom Apartments Available Now
Edgemont Park Apartments
3322 Tropic LnWaterloo, IA 50702
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from $8002 Bedroom Apartments Available Jun 25
1150 Home Park Blvd
1150 Home Park BlvdWaterloo, IA 50701
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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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201 Main St
Cedar FallsIA50613
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from $770Studio to 2 Bedroom Apartments Available Now
University Manor
1939 College StCedar Falls, IA 50613
2503 Olive St
Cedar FallsIA50613
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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.
Showing Results 1-32, Page 1 of 1
Waterloo, IA Local Guide
Downtown Waterloo by David Wilson is licensed under CC BY 2.0
How much does it cost to rent an apartment in Waterloo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Waterloo Studio Apartments | $940 | $550 | $1,300 |
| Cheap Waterloo 1 Bedroom Apartments | $1,040 | $625 | $1,800 |
| Cheap Waterloo 2 Bedroom Apartments | $1,240 | $525 | $3,433 |
| Cheap Waterloo 3 Bedroom Apartments | $1,250 | $800 | $1,950 |
| Cheap Waterloo 4 Bedroom Apartments | $1,083 | $295 | $1,600 |
Browse Top Apartments in Waterloo
See all Apartments in WaterlooExplore Waterloo
Waterloo, IA Local Guide
Written By:
Staff Writer Local Guide Expert
- Waterloo Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Waterloo, IA
Pricing Updated: 06/14/2025Current 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:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Downtown Waterloo | $1,233 | $550 | 53 |
Cheapest Available Waterloo Apartments for Rent
The cheapest available apartment rental in Waterloo, IA is a 4 Beds unit found at Residences on College Hill in the Downtown Cedar Falls neighborhood priced from $295. Russell Lamson in the Downtown Waterloo neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $675. Here is today’s list of the most affordable Waterloo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Residences on College Hill | Private 1-Bedroom Apartment in a Spacious 4-Bed... | 4BR,1BA | $295 |
| Russell Lamson | Studio | Studio,1BA | $675 |
| Meadow Ridge Apartments | 1 BR/ 1 BA | 1BR,1BA | $675 |
| University Manor | 1 BR/ 1 BA (Sept'25 ) | 1BR,1BA | $770 |
| Cobblestone Circle Apartment | Spacious 2 Bedroom 1Bath Apartment in Secure Bu... | 2BR,1BA | $775 |
| Edgemont Park Apartments | 1 Bedroom Efficiency @ Edgemont Park | Studio,1BA | $795 |
| 124 Earl St | 2BR/1.0BA | 2BR,1BA | $795 |
| Le Chateau | 2BR/1.5BA | 2BR,1BA | $850 |
Best Value Apartments for Rent in Waterloo, IA
As of June 14, 2025 the best value apartment in the Waterloo area is the $0.65 price per square foot 918 W 4th St Model at 918 W 4th St, Unit 918 in the in the Downtown Waterloo neighborhood starting from $750. The second greatest value Waterloo apartment is the 2 BR/ 2 BA Model at 3714 Ravenwood Cir starting at $1,150 with a $1.10 price per square foot . Here is today’s list of the best values for Waterloo apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 918 W 4th St, Unit 918 | 918 W 4th St | 1BR,1BA | $0.65 |
| 3714 Ravenwood Cir | 2 BR/ 2 BA | 2BR,2BA | $1.10 |
| 2116 Olive St, Unit 2 | 2116 Olive St | 2BR,1BA | $0.96 |
| Prairie Rapids | 2bed/1bath | 2BR,1BA | $1.11 |
| Hawkeye Towers | 3/2.00 | 3BR,2BA | $0.50 |
| Kinsale Condominiums | Two Bedroom w/ Garage | 2BR,1BA | $1.00 |
| Le Chateau | 2BR/1.5BA | 2BR,1.5BA | $0.90 |
| Cobblestone Circle Apartment | Spacious 2 Bedroom 1Bath Apartment in Secure Bu... | 2BR,1BA | $0.92 |
| 124 Earl St | 2BR/1.0BA | 2BR,1BA | $1.13 |
| Meadow Ridge Apartments | 1 BR/ 1 BA | 1BR,1BA | $1.11 |
Quick Rent Budget Calculator
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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
Orange Elementary School
Waterloo Community School District
Public School - Grades PK-5 (521)
6 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Waterloo, IA Rentals by Map
See the most popular apartments and homes in Waterloo, IA
Waterloo, IA Apartments MapWaterloo, IA Rental Homes MapGetting Around Waterloo, IA
Walk Score®
47 / 100
Car-Dependent
Most errands require a car
Bike Score®
53 / 100
Bikeable
Some bike infrastructure
Transit Score®
24 / 100
Minimal Transit
It may be possible to get on a bus
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
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 $675, while the average apartment in Waterloo costs $1,233.
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 19 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 $428 which is $805 cheaper than the average rent for all rentals in Waterloo.
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.
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.
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.
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.
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.