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

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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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property at 414 Cottage St

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

2 Bedroom, 1 Bath Home for Rent

Available Aug 12

414 Cottage St

WaterlooIA50703

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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Showing Results 1-36, Page 1 of 1

Waterloo, IA Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, IA

Pricing Updated: 08/02/2026

Current apartment rentals in the Waterloo, IA area range in price from $600 to $1,850 with an overall median price of $1,210. Here is today’s list neighborhoods with the lowest median pricing for Waterloo Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Waterloo$1,210$60036

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 $315. 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$315
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$625
Brookside ApartmentsOne-Bedroom Apartment1BR,1BA$650
Russell LamsonStudioStudio,1BA$695
Kingswood PlaceHuge Updated One Bedroom Apartment with Walk-in...1BR,1BA$775
Union at North Crossing1 Bed 1 Bath1BR,1BA$800
University Manor1 BR/ 1 BA (Aug '25)1BR,1BA$815
Cobblestone Circle ApartmentsCobblestone Circle Spacious 2 Bedroom 1 Bath Ap...2BR,1BA$825

Best Value Apartments for Rent in Waterloo, IA

As of August 02, 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, Unit 3 starting at $1,250 with a $0.95 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 St, Unit 32116 Olive St3BR,1BA$0.95
1009 W 22nd St1009 W 22nd St2BR,2BA$0.70
Pineview Place ApartmentsPrime Waterloo Living: 2-Bedroom / 1-Bath Apart...2BR,1BA$1.05
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.02
Le Chateau2BR/1.5BA2BR,1.5BA$0.90
The Residences on College Hill4 Bed 1 Bath-W/D In Unit4BR,1BA$0.44
Cobblestone Circle ApartmentsCobblestone Circle Spacious 2 Bedroom 1 Bath Ap...2BR,1BA$0.98
Kingswood PlaceHuge Updated One Bedroom Apartment with Walk-in...1BR,1BA$1.05
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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Waterloo, IA

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

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Waterloo, IA Area Reviews

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K.c • 4+ years in Waterloo

May 24, 2026

I'm sorry, the only reason I haven't moved out of state is because of my grown kids, grandkids and my mom Waterloo isn't very safe at night anywhere...it's really boring.

Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 223 Apartments for Rent in Waterloo, IA with pricing that ranges from $420 to $2,400. There are also 116 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $525 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 $525 to $2,800 with an average monthly rent of $1,217.

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 $875 to $1,950, while Three Bedroom Homes, Condos, and Townhomes for rent range from $775 to $2,290. Four Bedroom Single-Family rentals are also available starting from $975 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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.