440 Florence St
WaterlooIA50703
Cheap Homes for Rent in Downtown Waterloo Neighborhood of Waterloo, IA from $500 (3 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Waterloo area of Waterloo.
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.
800 W Mullan Ave
WaterlooIA50701
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.
147 French St
WaterlooIA50703
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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 | $945 | $650 | $2,000 |
| Downtown Waterloo 3 Bedroom Homes for Rent | $971 | $750 | $1,250 |
| Downtown Waterloo 4 Bedroom Homes for Rent | $1,075 | $975 | $1,250 |
| Downtown Waterloo 5 Bedroom Homes for Rent | $1,000 | $1,000 | $1,000 |
Browse Homes for Rent in this Neighborhood
There are currently 3 rentals with your search options within a 2 mile radius of the Downtown Waterloo Neighborhood of Waterloo, IA.
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Downtown Waterloo, Waterloo, IA Local Guide
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Best Value Apartments for Rent in Downtown Waterloo, IA
As of July 15, 2025 the best value apartment in the Downtown Waterloo area is the $1.23 price per square foot 1st Month Free Model at Riverwalk Residences in the in the Downtown Waterloo neighborhood starting from $1,300. The second greatest value Downtown Waterloo apartment is the Corner Loft @ Grand Crossing Model at The Grand Crossing starting at $1,400 with a $1.88 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. |
|---|---|---|---|
| Riverwalk Residences | 1st Month Free | 2BR,2BA | $1.23 |
| The Grand Crossing | Corner Loft @ Grand Crossing | 1BR,1BA | $1.88 |
| Leavitt Park Apartments - Waterloo, IA | 2 Bed 1 Bath | Leavitt Park Apartments | 2BR,1BA | $1.28 |
| Park Avenue Lofts | Loft - AVAILABLE NOW! | 1BR,1BA | $2.09 |
| Russell Lamson | Studio | Studio ,1BA | $1.67 |
| Art Bloc | Studio | Studio ,1BA | $3.04 |
Quick Rent Budget Calculator
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Frequently Asked Questions about Downtown Waterloo
What type of rentals are currently available in Downtown Waterloo?
There are currently 71 Apartments for Rent in Downtown Waterloo, IA with pricing that ranges from $550 to $2,500. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Waterloo ranging from $550 to $2,000.
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 $550 to $2,000 with an average monthly rent of $933.
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.