Cheap Homes for Rent in Waterloo, IA from $400 (42 Rentals)

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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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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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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.

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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.

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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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Showing Results 1-42, Page 1 of 1

Waterloo, IA Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, IA

Pricing Updated: 06/18/2026

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

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Waterloo$1,145$60035

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 $350. 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 Apartment4BR,1BA$350
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$625
Brookside ApartmentsOne-Bedroom Apartment1BR,1BA$650
Russell LamsonStudioStudio,1BA$652
Kent CircleUpdated Cozy 1 Bedroom / 1 Bath Apartment in SW...1BR,1BA$760
Kingswood PlaceKingswood 1 Bed/1 Bath1BR,1BA$795
Falls Edge StudiosStudio B REVStudio,1BA$800
University Manor1 BR/ 1 BA (June & Aug '25)1BR,1BA$815

Best Value Apartments for Rent in Waterloo, IA

As of June 18, 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 2116 Olive St Model at 2116 Olive St starting at $1,350 with a $1.02 price per square foot in the Downtown Cedar Falls neighborhood. 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
2116 Olive St2116 Olive St3BR,1BA$1.02
Riverwalk Residences1st Month Free2BR,2BA$1.19
3714 Ravenwood Cir2 BR/ 2 BA2BR,2BA$1.10
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.02
Le Chateau2BR/1.5BA2BR,1.5BA$0.90
Cobblestone Circle ApartmentsCobblestone Circle Spacious 2 Bedroom 1 Bath Ap...2BR,1BA$0.98
Kingswood PlaceKingswood 1 Bed/1 Bath1BR,1BA$1.08
832 W 1st St, Unit 832 1/2 W832 W 1st St1BR,1BA$1.09
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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Quick Rent Budget Calculator

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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Best Local Schools in
Waterloo, IA

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 231 Apartments for Rent in Waterloo, IA with pricing that ranges from $395 to $2,400. There are also 130 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $450 to $2,800.

What is the current price range for Rental Homes in Waterloo?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Waterloo ranges from $450 to $2,800 with an average monthly rent of $1,300.

How much are larger Three and Four Bedroom Rentals in Waterloo?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Waterloo range from $995 to $1,950, while Three Bedroom Homes, Condos, and Townhomes for rent range from $675 to $2,290. Four Bedroom Single-Family rentals are also available starting from $825 and Four Bedroom Apartments start at $395.

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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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.

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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.

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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.

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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.