Cheap Homes for Rent in Waterloo, IA from $400 (52 Rentals)

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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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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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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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Waterloo, IA Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, IA

Pricing Updated: 11/01/2025

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$1,400$42541

Cheapest Available Waterloo Apartments for Rent

 

The cheapest available apartment rental in Waterloo, IA is a Studio unit found at Russell Lamson in the Downtown Waterloo neighborhood priced from $675. Le Chateau has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Russell LamsonStudioStudio,1BA$675
Le Chateau1BR/1.0BA1BR,1BA$725
Meadow Ridge Apartments2 BR/ 1 BA2BR,1BA$775
228 Spaces - Furnished Micro-Living Apartments1st Floor StudioStudio,1BA$795
1150 Home Park Blvd2BR/1.0BA2BR,1BA$795
Falls Edge StudiosStudio B REVStudio,1BA$800
Cobblestone Circle ApartmentCobblestone Circle Spacious 2 Bedroom 1 Bath Ap...2BR,1BA$825
1637 Carriage Hill2BR/1.0BA2BR,1BA$825

Best Value Apartments for Rent in Waterloo, IA

As of November 02, 2025 the best value apartment in the Waterloo area is the $1.13 price per square foot 122 Main St Model at 122 Main St, Unit 1 in the in the Downtown Cedar Falls neighborhood starting from $1,800. The second greatest value Waterloo apartment is the 4004 University Ave Model at 4004 University Ave, Unit 12 starting at $1,200 with a $1.03 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.
122 Main St, Unit 1122 Main St2BR,2BA$1.13
4004 University Ave, Unit 124004 University Ave2BR,1BA$1.03
3714 Ravenwood Cir2 BR/ 2 BA2BR,2BA$1.10
Pineview Place Apartments2 Bedroom/1 Bath2BR,1BA$1.03
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.00
1417 Clay St1417 Clay St2BR,1BA$0.95
Cobblestone Circle ApartmentCobblestone Circle Spacious 2 Bedroom 1 Bath Ap...2BR,1BA$0.98
Meadow Ridge Apartments2 BR/ 1 BA2BR,1BA$0.93
1150 Home Park Blvd2BR/1.0BA2BR,1BA$1.02
2303 Olive St, Unit 22303 Olive StStudio ,1BA$1.07

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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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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Waterloo, IA
Population: 67,798

Ranked #539

in US Census Population by City

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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

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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 218 Apartments for Rent in Waterloo, IA with pricing that ranges from $365 to $2,500. There are also 139 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $425 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 $425 to $3,500 with an average monthly rent of $1,419.

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 $750 to $2,290. Four Bedroom Single-Family rentals are also available starting from $1,000 and Four Bedroom Apartments start at $380.

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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.