Cheap Apartments for Rent in the Downtown Waterloo Neighborhood of Waterloo, IA from $435 (51 Rentals)

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

property at 303 Logan Ave
$550 - $800
1 To 3 Bedroom Rentals
Available Now

303 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

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505 Wellington St
1 to 3 Bedroom Apartments

505 Wellington St

505 Wellington StWaterloo, IA 50701

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Showing Results 1-50, Page 1 of 2

Cheapest Available Downtown Waterloo Apartments for Rent

 

The cheapest available apartment rental in the Downtown Waterloo area of Waterloo, IA is a 1 Bed unit found at Russell Lamson priced from $761. 303 Logan Avenue MultiFamily has the second lowest priced unit, which is a 3 Beds apartment currently listed from $800. Here are the most affordable Downtown Waterloo apartments for rent in Waterloo, IA:

Apartment ListingModel NameBed/BathPriced From
Russell Lamson1 Bedroom1BR,1BA$761
303 Logan Avenue MultiFamily3BR/1.0BA3BR,1BA$800
Leavitt Park ApartmentsLeavitt Park Apartments2BR,1BA$920
Park Avenue Lofts The TempleStudio W/O LaundryStudio,1BA$1,100
Art BlocArt Bloc - 3rd Floor Studio UnitsStudio,1BA$1,110
Riverwalk Residences1st Month Free2BR,2BA$1,250
E 3rd St2BR/2.0BA2BR,2BA$1,500
Grand Crossing2 Bed - 1 Bath (2B)2BR,1BA$1,700

Best Value Apartments for Rent in Downtown Waterloo, IA

As of September 12, 2026 the best value apartment in the Downtown Waterloo area is the $1.30 price per square foot 2BR/2.0BA Model at E 3rd St in the in the Downtown Waterloo neighborhood starting from $1,500. The second greatest value Downtown Waterloo apartment is the 918 W 4th St Model at 918 W 4th St, Unit 918 starting at $750 with a $0.65 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.
E 3rd St2BR/2.0BA2BR,2BA$1.30
918 W 4th St, Unit 918918 W 4th St1BR,1BA$0.65
Grand Crossing2 Bed - 1 Bath (2B)2BR,1BA$1.50
Riverwalk Residences1st Month Free2BR,2BA$1.19
911 Lafayette St, Unit 913.5911 Lafayette St2BR,1BA$0.89
Leavitt Park ApartmentsLeavitt Park Apartments2BR,1BA$1.31
Russell Lamson1 Bedroom1BR,1BA$1.26
Park Avenue Lofts The TempleThe Masonic Temple - Studio with LaundryStudio ,1BA$2.54
Art BlocArt Bloc - Furnished Studio UnitsStudio ,1BA$3.72

Frequently Asked Questions about Cheap Downtown Waterloo Apartments

What is a cheap apartment in Downtown Waterloo?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Waterloo is under $1,700.

What is the price of a cheap apartment in Downtown Waterloo?

The cheapest apartment in Downtown Waterloo is Russell Lamson which is listed at $761, while the average apartment in Downtown Waterloo costs $761.

What types of apartments are the cheapest in Downtown 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 3 regular apartments in Downtown Waterloo that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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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