408 Locust St
WaterlooIA50701
Cheap Homes for Rent in Downtown Waterloo Neighborhood of Waterloo, IA from $400 (16 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Waterloo area of Waterloo.
102 South St
WaterlooIA50701
102 1/2 South St
WaterlooIA50702
440 Florence St
WaterlooIA50703
313 Dearborn Ave
WaterlooIA50703
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.
418 Sunnyside Ave
WaterlooIA50701
269 Madison St
WaterlooIA50703
532 Western Ave
WaterlooIA50702
235 Madison St
WaterlooIA50703
128 Lafayette St
WaterlooIA50703
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.
227 Madison St
WaterlooIA50703
611 Sycamore St
WaterlooIA50703
652 Conger St
WaterlooIA50703
1254 W Mullan Ave
WaterlooIA50701
719 W 5th St
WaterlooIA50702
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.
137 Western Ave
WaterlooIA50701
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Downtown Waterloo, Waterloo, IA Local Guide
How much does it cost to rent a home in Downtown Waterloo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Waterloo 2 Bedroom Homes for Rent | $830 | $675 | $1,100 |
| Downtown Waterloo 3 Bedroom Homes for Rent | $995 | $675 | $1,200 |
| Downtown Waterloo 4 Bedroom Homes for Rent | $1,132 | $825 | $1,425 |
| Downtown Waterloo 5 Bedroom Homes for Rent | $1,525 | $1,500 | $1,550 |
Browse Homes for Rent in this Neighborhood
There are currently 16 rentals with your search options within a 2 mile radius of the Downtown Waterloo Neighborhood of Waterloo, IA.
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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 Studio unit found at Russell Lamson priced from $652. Leavitt Street Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $920. Here are the most affordable Downtown Waterloo apartments for rent in Waterloo, IA:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Russell Lamson | Studio | Studio,1BA | $652 |
| Leavitt Street Apartments | ***FIRST MONTH FREE!*** 2 Bed 1 Bath | Leavitt ... | 2BR,1BA | $920 |
| Art Bloc | Art Bloc - 1 MONTH FREE WITH A 12 MONTH LEASE!!!! | Studio,1BA | $1,110 |
| Riverwalk Residences | 1st Month Free | 2BR,2BA | $1,250 |
| Grand Crossing | 2 Bed - 1 Bath (2B) | 2BR,1BA | $1,700 |
Best Value Apartments for Rent in Downtown Waterloo, IA
As of June 13, 2026 the best value apartment in the Downtown Waterloo area is the $1.51 price per square foot 2 Bed - 2 Bath - Larger (2C2) Model at Grand Crossing in the in the Downtown Waterloo neighborhood starting from $1,850. 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Grand Crossing | 2 Bed - 2 Bath - Larger (2C2) | 2BR,2BA | $1.51 |
| Riverwalk Residences | 1st Month Free | 2BR,2BA | $1.19 |
| Leavitt Street Apartments | ***FIRST MONTH FREE!*** 2 Bed 1 Bath | Leavitt ... | 2BR,1BA | $1.31 |
| 832 W 1st St, Unit 832 1/2 W | 832 W 1st St | 1BR,1BA | $1.09 |
| Russell Lamson | Studio | Studio ,1BA | $1.61 |
Frequently Asked Questions about Downtown Waterloo
What type of rentals are currently available in Downtown Waterloo?
There are currently 83 Apartments for Rent in Downtown Waterloo, IA with pricing that ranges from $600 to $1,910. There are also 55 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Waterloo ranging from $450 to $1,550.
What is the current price range for Rental Homes in Downtown Waterloo?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Waterloo ranges from $450 to $1,550 with an average monthly rent of $1,016.
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
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.