Cheap Apartments for Rent in Waterloo, IA from $420 (143 Rentals)

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

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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property at 414 Cottage St

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

2 Bedroom, 1 Bath Home for Rent

Available Now

414 Cottage St

WaterlooIA50703
property at 2343 Logan Ave

$849 - $1,250

Studio Rentals

Available Now

2343 Logan Ave

WaterlooIA50703
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Marsh Place Apartments
1 to 2 Bedroom Apartments

Marsh Place Apartments

627 Sycamore StWaterloo, IA 50703
  • Utilities Included

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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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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Crossroads Square
1 Bedroom Apartments

Crossroads Square

1820 E Ridgeway AveWaterloo, IA 50702
  • 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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Waterloo, IA Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Waterloo, IA

Pricing Updated: 08/27/2026

Current apartment rentals in the Waterloo, IA area range in price from $450 to $1,425 with an overall median price of $875. Here is today’s list neighborhoods with the lowest median pricing for Waterloo Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Waterloo$875$45044

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 $299. 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-W/D In Unit4BR,1BA$299
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$625
Russell LamsonStudioStudio,1BA$695
221-231 Miriam2BR/1.0BA2BR,1BA$700
Kent CircleUpdated Cozy 1 Bedroom / 1 Bath Apartment in SW...1BR,1BA$745
Kingswood PlaceHuge Updated One Bedroom Apartment with Walk-in...1BR,1BA$775
238 Palmer Drive2BR/1.0BA2BR,1BA$795
Union at North Crossing1 Bed 1 Bath1BR,1BA$800

Best Value Apartments for Rent in Waterloo, IA

As of August 27, 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 4BR/2.0BA Model at 2321 Iowa St - Cedar Falls starting at $1,200 with a $0.80 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
2321 Iowa St - Cedar Falls4BR/2.0BA4BR,2BA$0.80
1009 W 22nd St1009 W 22nd St2BR,2BA$0.70
Elevate ApartmentsPrivate Bedroom in 4 Bed/2 Bath Student Apt4BR,2BA$0.46
321 Clay St, Unit #1321 Clay St2BR,1BA$1.00
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.02
Le Chateau2BR/1.5BA2BR,1.5BA$0.90
238 Palmer Drive2BR/1.0BA2BR,1BA$0.94
Cobblestone Circle ApartmentsCobblestone Circle Spacious 2 Bedroom 1 Bath Ap...2BR,1BA$0.98
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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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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Waterloo, IA Area Reviews

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K.c • 4+ years in Waterloo

May 24, 2026

I'm sorry, the only reason I haven't moved out of state is because of my grown kids, grandkids and my mom Waterloo isn't very safe at night anywhere...it's really boring.

Frequently Asked Questions about Cheap Waterloo Apartments

What is the Cheapest Studio apartment in Waterloo?

Currently the most affordable Cheap Studio Apartment in Waterloo is at Russell Lamson listed at $695.

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

The lowest price for a Cheap One Bedroom Waterloo Apartment is $625 at Meadow Ridge Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Waterloo is starting from $700 at 221-231 Miriam.

What is the most affordable Waterloo Three Bedroom Apartment?

The best deal on a cheap Waterloo Three Bedroom Apartment rental is at Cedar Crest Apartments and starts from $1,000.

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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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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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.