Cheap Homes for Rent in Waterloo, IA from $500 (58 Rentals)

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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.

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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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property at 4025 Cedar Heights Dr

$825

Total Monthly Price

Total Monthly Price

Base Rent
$825
Total Monthly Price
$825

2 Bedroom, 2 Bath Condo for Rent

Available Now

4025 Cedar Heights Dr, Unit 8

4025 Cedar Heights Dr
Cedar FallsIA50613

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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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.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Waterloo, IA Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, IA

Pricing Updated: 03/20/2026

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$1,324$60029

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
2321 Iowa St - Cedar Falls0BR/1.0BAStudio,1BA$750
Kent CircleUpdated Cozy 1 Bedroom / 1 Bath Apartment in SW...1BR,1BA$760
University Manor1 BR/ 1 BA (NOW )1BR,1BA$770
228 Spaces - Furnished Micro-Living Apartments1st Floor StudioStudio,1BA$795
Cobblestone Circle Apartment 2 Bedroom, 1 Bath Secure Building2BR/1.0BA2BR,1BA$800

Best Value Apartments for Rent in Waterloo, IA

As of March 20, 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 Two Bedroom w/ Garage Model at Kinsale Condominiums starting at $995 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
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.02
Le Chateau2BR/1.5BA2BR,1.5BA$0.90
Residences on College Hill4 Bed 1 Bath Apartment4BR,1BA$0.39
900 W Parker St, Unit B900 W Parker St2BR,1BA$0.88
Cobblestone Circle Apartment 2 Bedroom, 1 Bath Secure Building2BR/1.0BA2BR,1BA$0.94
2116 Olive St2116 Olive St1BR,1BA$0.98
832 W 1st St, Unit 832 1/2 W832 W 1st St1BR,1BA$1.01
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$1.02
1422 Irish Dr, Unit 41422 Irish Dr1BR,1BA$1.07

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.

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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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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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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!

Explore Waterloo, IA Rentals by Map

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See the most popular apartments and homes in Waterloo, IA

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Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 219 Apartments for Rent in Waterloo, IA with pricing that ranges from $600 to $2,700. There are also 131 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $550 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 $550 to $2,800 with an average monthly rent of $1,375.

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 $1,000 to $2,700, while Three Bedroom Homes, Condos, and Townhomes for rent range from $695 to $2,290. Four Bedroom Single-Family rentals are also available starting from $575 and Four Bedroom Apartments start at $1,400.

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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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.