311 W Mill St
WaterlooIL62298
Cheap Apartments for Rent in Waterloo, IL from $400 (20 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterloo.
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from $4141 to 2 Bedroom Apartments Available Now
Trolley Circle
7235 Westfield Plaza DrBelleville, IL 62223
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from $695Studio to 2 Bedroom Apartments Contact Us For Availability
Evergreen Manor
3456 Evergreen LnSt. Louis, MO 63125
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from $7901 to 3 Bedroom Apartments Contact Us For Availability
The Vineyards
4227 Drambuie LnSt. Louis, MO 63129
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from $7951 to 3 Bedroom Apartments Contact Us For Availability
Oakbrook Gardens
5010 Clayridge DrSt. Louis, MO 63129
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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Rent Specials
from $8001 to 3 Bedroom Apartments Available Now
Jefferson Townhomes
333 Tuckahoe DrSt. Louis, MO 63125
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from $8791 to 2 Bedroom Apartments Available Now
Tuscany Village Apartments
2511 El Paulo CtOakville, MO 63129
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from $8831 to 3 Bedroom Apartments Available Now
Covington Place Apartments
1247 Covington Manor LnSt. Louis, MO 63125
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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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6 Delores Dr
SaugetIL62206
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117 S 4th St
DupoIL62239
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.
25 S 15th St
BellevilleIL62220
615 S 2nd St
BellevilleIL62220
213 E Garfield St
BellevilleIL62220
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Waterloo, IL Local Guide
Tall grass in the clouds by Tom Shockey is licensed under CC BY 2.0
How much does it cost to rent an apartment in Waterloo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Waterloo Studio Apartments | $818 | $695 | $1,011 |
| Waterloo 1 Bedroom Apartments | $1,010 | $414 | $1,572 |
| Waterloo 2 Bedroom Apartments | $1,258 | $481 | $2,215 |
| Waterloo 3 Bedroom Apartments | $1,509 | $1,130 | $2,763 |
Browse Top Apartments in Waterloo
See all Apartments in WaterlooExplore Waterloo
Waterloo, IL Local Guide
- Waterloo Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Waterloo, IL
Pricing Updated: 07/15/2025Current apartment rentals in the Waterloo, IL 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:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Outlying Monroe County | $1,150 | $1,100 | 1 |
Cheapest Available Waterloo Apartments for Rent and Nearby
The cheapest available apartment rental in Waterloo, IL is a 1 Bed unit found at Trolley Circle in the East Saint Louis neighborhood priced from $414. Taravue Park in the Green Park neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $795. Here is today’s list of the most affordable Waterloo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Trolley Circle | One Bedroom | 1BR,1BA | $414 |
| Taravue Park | Cumberland | Studio,1BA | $795 |
| Jefferson Townhomes | One Bedroom Garden | 1BR,1BA | $800 |
| Covington Place Apartments | 1 Bedroom and 1 Bathroom | 1BR,1BA | $883 |
| Greenway Trail Apartments | Rent Special! Limited Time Only! 1 Bedrooms for... | 1BR,1BA | $900 |
Best Value Apartments for Rent in Waterloo, IL and Nearby
As of July 15, 2025 the best value apartment in the Waterloo area is the $1.25 price per square foot Cascade Model at Canyon Creek in the in the River Breeze Estates neighborhood starting from $1,290. The second greatest value Waterloo apartment is the B9 Model at Lyon Apartments starting at $1,276 with a $1.24 price per square foot in the Princeton Heights neighborhood. Here is today’s list of the best values for Waterloo apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Canyon Creek | Cascade | 2BR,2BA | $1.25 |
| Lyon Apartments | B9 | 2BR,2BA | $1.24 |
| Hunters Ridge STL | Aspen | 2BR,2BA | $1.43 |
| Grant's Trail | One Bedroom - One Bath | 1BR,2BA | $1.48 |
| Greenway Trail Apartments | Save up to $500 off Move In Costs with your EXC... | 2BR,1BA | $1.41 |
| Tuscany Village Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.21 |
| Heatherbrook | 2BR/1.0BA | 2BR,1BA | $1.48 |
| Trolley Circle | One Bedroom | 1BR,1BA | $0.60 |
| Covington Place Apartments | 1 Bedroom and 1 Bathroom | 1BR,1BA | $1.36 |
| Jefferson Townhomes | One Bedroom Garden | 1BR,1BA | $1.31 |
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Best Local Schools in Waterloo, IL
Rogers Elementary School
Waterloo Community Unit School District 5
Public School - Grades 2-3 (367)
9 out of 10
Waterloo High School
Waterloo Community Unit School District 5
Public School - Grades 9-12 (895)
8 out of 10
Waterloo Junior High School
Waterloo Community Unit School District 5
Public School - Grades 6-8 (619)
8 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Waterloo, IL Rentals by Map
See the most popular apartments and homes in Waterloo, IL
Waterloo, IL Apartments MapWaterloo, IL Rental Homes MapGetting Around Waterloo, IL
Walk Score®
29 / 100
Car-Dependent
Most errands require a car
Bike Score®
32 / 100
Somewhat Bikeable
Minimal bike infrastructure
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Waterloo Apartments
How much is rent for a Cheap One Bedroom Waterloo Apartment?
The lowest price for a Cheap One Bedroom Waterloo Apartment is $414 at Trolley Circle.
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 $481 at Trolley Circle.
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 $1,150.
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.