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

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

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

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

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Read Article
Showing Results 1-42, Page 1 of 1

Waterloo, IA Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, IA

Pricing Updated: 12/17/2025

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$1,250$45530

Cheapest Available Waterloo Apartments for Rent

 

The cheapest available apartment rental in Waterloo, IA is a 1 Bed unit found at Meadow Ridge Apartments priced from $625. 1106-1110 Kent Circle has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$625
1106-1110 Kent CircleUpdated Cozy 1 Bedroom / 1 Bath Apartment in SW...1BR,1BA$750
2321 Iowa St - Cedar Falls0BR/1.0BAStudio,1BA$750
University Manor1 BR/ 1 BA (Dec'25 and Jan' 26 )1BR,1BA$770
228 Spaces - Furnished Micro-Living Apartments2nd Floor StudioStudio,1BA$795
1150 Home Park Blvd2BR/1.0BA2BR,1BA$795
Le Chateau2BR/1.5BA2BR,1BA$795
1637 Carriage Hill2BR/1.0BA2BR,1BA$795
124 Earl St2BR/1.0BA2BR,1BA$795

Best Value Apartments for Rent in Waterloo, IA

As of December 17, 2025 the best value apartment in the Waterloo area is the $0.85 price per square foot 317 Main St Model at 317 Main St, Unit 200 in the in the Downtown Cedar Falls neighborhood starting from $1,700. The second greatest value Waterloo apartment is the 122 Main St Model at 122 Main St, Unit 1 starting at $1,700 with a $1.06 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.
317 Main St, Unit 200317 Main St2BR,2BA$0.85
122 Main St, Unit 1122 Main St2BR,2BA$1.06
Hawkeye Towers (new)3BR/2BA3BR,2BA$0.50
Pineview Place Apartments2 Bedroom/1 Bath2BR,1BA$1.03
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.00
Le Chateau2BR/1.5BA2BR,1.5BA$0.85
Residences on College Hill4 Bedroom Apartment Near UNI — Only $1,400/mo (...4BR,1BA$0.99
Cobblestone Circle Apartment 2 Bedroom, 1 Bath Secure BuildingCobblestone Circle Spacious 2 Bedroom 1 Bath Ap...2BR,1BA$0.98
1150 Home Park Blvd2BR/1.0BA2BR,1BA$1.02
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.

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

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

Waterloo, IA
Population: 67,798

Ranked #539

in US Census Population by City

decorative image of people examining a giant globe and floating graphs

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 $365 to $2,500. There are also 141 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $475 to $3,500.

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 $475 to $3,500 with an average monthly rent of $1,251.

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 $800 to $1,950, while Three Bedroom Homes, Condos, and Townhomes for rent range from $650 to $2,290. Four Bedroom Single-Family rentals are also available starting from $750 and Four Bedroom Apartments start at $895.

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 Renting with Roommates: Realistic Expectations for Shared Lease article

Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.