Cheap Apartments for Rent in the Downtown Waterloo Neighborhood of Waterloo, IA from $400 (28 Rentals)

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

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Marsh Place Apartments
1 to 2 Bedroom Apartments

Marsh Place Apartments

627 Sycamore StWaterloo, IA 50703
  • Utilities Included

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Russell Lamson
Studio to 3 Bedroom Apartments

Russell Lamson

209 W 5th StWaterloo, IA 50701
  • Utilities Included

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Cheapest Available Downtown Waterloo Apartments for Rent

 

The cheapest available apartment rental in the Downtown Waterloo area of Waterloo, IA is a 2 Beds unit found at Leavitt Park Apartments - Waterloo, IA priced from $920. Art Bloc has the second lowest priced unit, which is a Studio apartment currently listed from $1,100. Here are the most affordable Downtown Waterloo apartments for rent in Waterloo, IA:

Apartment ListingModel NameBed/BathPriced From
Leavitt Park Apartments - Waterloo, IA***FIRST MONTH FREE!*** 2 Bed 1 Bath | Leavitt ...2BR,1BA$920
Art Bloc3rd Floor StudioStudio,1BA$1,100
Park Avenue Lofts The TempleStudio W/O LaundryStudio,1BA$1,100
Riverwalk Residences1st Month Free2BR,2BA$1,250
Grand Crossing2 Bed - 1 Bath (2B)2BR,1BA$1,700

Best Value Apartments for Rent in Downtown Waterloo, IA

As of March 15, 2026 the best value apartment in the Downtown Waterloo area is the $1.50 price per square foot 2 Bed - 1 Bath (2B) Model at Grand Crossing in the in the Downtown Waterloo neighborhood starting from $1,700. The second greatest value Downtown Waterloo apartment is the 1st Month Free Model at Riverwalk Residences starting at $1,250 with a $1.19 price per square foot in the Downtown Waterloo neighborhood. Here is today’s list of the best values for Downtown Waterloo apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Grand Crossing2 Bed - 1 Bath (2B)2BR,1BA$1.50
Riverwalk Residences1st Month Free2BR,2BA$1.19
900 W Parker St, Unit B900 W Parker St2BR,1BA$0.92
Leavitt Park Apartments - Waterloo, IA***FIRST MONTH FREE!*** 2 Bed 1 Bath | Leavitt ...2BR,1BA$1.31
832 W 1st St, Unit 832 1/2 W832 W 1st St1BR,1BA$1.01
Art Bloc1 Bed - Furnished1BR,1BA$3.33
Park Avenue Lofts The TempleStudio W/O LaundryStudio ,1BA$2.29

Frequently Asked Questions about Cheap Downtown Waterloo Apartments

What is the Cheapest Studio apartment in Downtown Waterloo?

Currently the most affordable Cheap Studio Apartment in Downtown Waterloo is at Art Bloc listed at $1,100.

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

The lowest price for a Cheap One Bedroom Downtown Waterloo Apartment is $1,400 at Art Bloc.

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Waterloo is starting from $920 at Leavitt Park Apartments - Waterloo, IA.

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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Written by: Christine Leonard, Esq.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.