Cheap Apartments for Rent in Waterloo, IL from $400 (38 Rentals)

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

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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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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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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Pevely Pointe
1 to 3 Bedroom Apartments

Pevely Pointe

1001 Pevely Pointe DrPevely, MO 63070
  • Utilities Included

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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Showing Results 1-38, Page 1 of 1

Waterloo, IL Local Guide

Cheapest Available Waterloo Apartments for Rent and Nearby

 

The cheapest available apartment rental in Waterloo, IL is a Studio unit found at Taravue Park Apartments in the Green Park neighborhood priced from $710. Jefferson Townhomes in the Lemay neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $795. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Taravue Park ApartmentsCumberlandStudio,1BA$710
Jefferson TownhomesOne Bedroom Garden1BR,1BA$795
Brookside Apartments1 Bedroom Updated Main Street1BR,1BA$795
Covington Place Apartments1 Bedroom and 1 Bathroom1BR,1BA$800
Kingston ApartmentsStudioStudio,1BA$849
Telegraph CrossingOne Bedroom Deluxe1BR,1BA$850
Elm Garden Apartments2 Beds, 1 bath2BR,1BA$850
722 Abend St1 Bed, 1 bath1BR,1BA$895
Southfield Apartments1Bd/1Ba1BR,1BA$950
500 E A St1 Bed, 1 bath1BR,1BA$950

Best Value Apartments for Rent in Waterloo, IL and Nearby

As of June 08, 2026 the best value apartment in the Waterloo area is the $1.24 price per square foot 3A Model at Lakewood Apartments in the in the Regency Woods neighborhood starting from $1,400. The second greatest value Waterloo apartment is the One Bedroom - One Bath Model at Grant's Trail starting at $1,190 with a $1.35 price per square foot in the St George 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.
Lakewood Apartments3A3BR,2BA$1.24
Grant's TrailOne Bedroom - One Bath1BR,2BA$1.35
Elm Garden Apartments2 Beds, 1 bath2BR,1BA$0.98
Tuscany Village Apartments2 Bedroom 1 Bath 2BR,1BA$1.25
Greenway Trail ApartmentsSave up to $500 off Move In Costs with your EXC...1BR,1BA$1.33
Southfield Apartments1Bd/1Ba1BR,1BA$1.36
Covington Place Apartments1 Bedroom and 1 Bathroom1BR,1BA$1.23
722 Abend St1 Bed, 1 bath1BR,1BA$1.38
Brookside Apartments1 Bedroom Updated Main Street1BR,1BA$1.30
Jefferson TownhomesOne Bedroom Garden1BR,1BA$1.30

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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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, IL

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Frequently Asked Questions about Cheap Waterloo Apartments

What is the Cheapest Studio apartment in Waterloo?

Currently the most affordable Cheap Studio Apartment in Waterloo is at Taravue Park Apartments listed at $710.

How much is rent for a Cheap One Bedroom Waterloo Apartment?

The lowest price for a Cheap One Bedroom Waterloo Apartment is $795 at Taravue Park Apartments.

What is the lowest price for a Cheap Two Bedroom Waterloo Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Waterloo is starting from $850 at Elm Garden Apartments.

What is the most affordable Waterloo Three Bedroom Apartment?

The best deal on a cheap Waterloo Three Bedroom Apartment rental is at Jefferson Townhomes and starts from $1,180.

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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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.