Cheap Homes for Rent in Waterloo, IA from $500 (38 Rentals)

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

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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.

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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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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.

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Showing Results 1-38, Page 1 of 1

Waterloo, IA Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, IA

Pricing Updated: 07/31/2025

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$1,275$55034

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 $295. Meadow Ridge Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $675. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Residences on College HillPrivate Bedroom in a 4BR Unit-Furnished Common ...4BR,1BA$295
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$675
Russell LamsonStudioStudio,1BA$675
2610 College St - Cedar Falls1BR/1.0BA1BR,1BA$700
1106-1110 Kent CircleUpdated Cozy 1 Bedroom / 1 Bath Apartment in SW...1BR,1BA$750
Edgemont Park Apartments1 Bedroom Efficiency @ Edgemont ParkStudio,1BA$795
124 Earl St2BR/1.0BA2BR,1BA$795
Le Chateau2BR/1.5BA2BR,1BA$850
1150 Home Park Blvd2BR/1.0BA2BR,1BA$875

Best Value Apartments for Rent in Waterloo, IA

As of July 31, 2025 the best value apartment in the Waterloo area is the $0.65 price per square foot 2303 Olive St Model at 2303 Olive St, Unit 5 in the starting from $1,300. The second greatest value Waterloo apartment is the 2 BR/ 2 BA Model at 3714 Ravenwood Cir starting at $1,150 with a $1.10 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.
2303 Olive St, Unit 52303 Olive St4BR,1.5BA$0.65
3714 Ravenwood Cir2 BR/ 2 BA2BR,2BA$1.10
Pineview Place ApartmentsPrime Waterloo Living: 2-Bedroom / 1-Bath Apart...2BR,1BA$1.03
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.00
Le Chateau2BR/1.5BA2BR,1.5BA$0.90
238 Palmer Dr, Unit C238 Palmer Dr2BR,1BA$1.09
1150 Home Park Blvd2BR/1.0BA2BR,1BA$1.12
215 Miriam Dr, Unit B215 Miriam Dr2BR,1BA$1.14
124 Earl St2BR/1.0BA2BR,1BA$1.13
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$1.11

Quick Rent Budget Calculator

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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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Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 209 Apartments for Rent in Waterloo, IA with pricing that ranges from $295 to $2,500. There are also 117 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $525 to $2,550.

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 $525 to $2,550 with an average monthly rent of $1,296.

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 $850 to $1,950, while Three Bedroom Homes, Condos, and Townhomes for rent range from $775 to $2,000. Four Bedroom Single-Family rentals are also available starting from $950 and Four Bedroom Apartments start at $295.

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.

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

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.

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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.