Cheap Homes for Rent in Waterloo, IA from $500 (36 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Homes available for rent right now in Waterloo.

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.

Read Article

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.

Read Article

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.

Read Article

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.

Read Article
Showing Results 1-36, Page 1 of 1

Waterloo, IA Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, IA

Pricing Updated: 05/04/2026

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$1,410$60025

Cheapest Available Waterloo Apartments for Rent

 

The cheapest available apartment rental in Waterloo, IA is a 4 Beds unit found at 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
Residences on College Hill4 Bed 1 Bath Apartment4BR,1BA$350
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$625
Brookside ApartmentsOne-Bedroom Apartment1BR,1BA$750
Kent CircleUpdated Cozy 1 Bedroom / 1 Bath Apartment in SW...1BR,1BA$760
Falls Edge StudiosStudio B REVStudio,1BA$815
Union at North Crossing1 Bed 1 Bath1BR,1BA$850
Edgemont Park ApartmentsOne Bedroom Apartment With Poolside Balcony At ...1BR,1BA$915
Leavitt Park Apartments - Waterloo, IA***FIRST MONTH FREE!*** 2 Bed 1 Bath | Leavitt ...2BR,1BA$920
Elmcrest2 Bedrooms2BR,1BA$950

Best Value Apartments for Rent in Waterloo, IA

As of May 04, 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 Beautiful HUGE 3 Bedroom/2 Bath Apartment in Gr... Model at Pineview Place Apartments starting at $1,220 with a $1.02 price per square foot . 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
Pineview Place ApartmentsBeautiful HUGE 3 Bedroom/2 Bath Apartment in Gr...3BR,2BA$1.02
Riverwalk Residences1st Month Free2BR,2BA$1.19
3714 Ravenwood Cir2 BR/ 2 BA2BR,2BA$1.10
Legacy Manor of Waterloo - 55+ Living2 bedroom2BR,2BA$0.94
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.02
Lantern Square Apartments Spacious 1, 2 & 3 BedroomsLS 2x1.52BR,1.5BA$1.04
Residences on College Hill4 Bed 1 Bath Apartment4BR,1BA$0.39
2116 Olive St2116 Olive St1BR,1BA$0.95
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$1.02

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

Read Article
Decorative image

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

Read Article
Decorative image

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.

Read Article
Decorative image

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

Best Local Schools in
Waterloo, IA

School data provided by Great Schools

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

Explore Waterloo, IA Rentals by Map

Decorative image of map

See the most popular apartments and homes in Waterloo, IA

View Map
Waterloo, IA Apartments Map
View Map
Waterloo, IA Rental Homes Map

Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 221 Apartments for Rent in Waterloo, IA with pricing that ranges from $600 to $2,700. There are also 128 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $500 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 $500 to $2,800 with an average monthly rent of $1,390.

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 $1,185 to $2,700, while Three Bedroom Homes, Condos, and Townhomes for rent range from $675 to $2,800. Four Bedroom Single-Family rentals are also available starting from $925 and Four Bedroom Apartments start at $1,395.

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

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.