Cheap Apartments for Rent in Waterloo, IL from $600 (27 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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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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Pevely Pointe
1 to 3 Bedroom Apartments

Pevely Pointe

1001 Pevely Pointe DrPevely, MO 63070
  • Utilities Included

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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Showing Results 1-27, 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 1 Bed unit found at Brookside Apartments in the Sullivan Manors neighborhood priced from $730. Taravue Park Apartments in the Green Park neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $785. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Brookside Apartments1 Bedroom Main Street1BR,1BA$730
Taravue Park ApartmentsCumberlandStudio,1BA$785
Jefferson TownhomesOne Bedroom Garden1BR,1BA$795
Telegraph CrossingOne Bedroom Standard1BR,1BA$845
Kingston ApartmentsStudioStudio,1BA$849
Trolley CircleOne Bedroom1BR,1BA$850
Covington Place Apartments1 Bedroom and 1 Bathroom1BR,1BA$888
500 E A St1 Bed, 1 bath1BR,1BA$895
722 Abend St1 Bed, 1 bath1BR,1BA$895
Black Forest ApartmentsOne Bedroom1BR,1BA$904

Best Value Apartments for Rent in Waterloo, IL and Nearby

As of April 24, 2026 the best value apartment in the Waterloo area is the $1.30 price per square foot 2 Bed 1.5 Bath Townhome Washer Dryer Model at ReNew on Blues Apartments & Townhomes in the in the Green Park neighborhood starting from $1,399. 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 ListingModel NameBed/BathPrice Per Sq.Ft.
ReNew on Blues Apartments & Townhomes2 Bed 1.5 Bath Townhome Washer Dryer2BR,1.5BA$1.30
Lyon ApartmentsB92BR,2BA$1.24
Lakewood Apartments2A2BR,2BA$1.24
Heatherbrook2BR/2.0BA2BR,2BA$1.35
Greenway Trail ApartmentsSave up to $500 off Move In Costs with your EXC...1BR,1BA$1.27
Southfield Apartments1Bd/1Ba1BR,1BA$1.36
Trolley CircleOne Bedroom1BR,1BA$1.24
Black Forest ApartmentsOne Bedroom1BR,1BA$1.34
Brookside Apartments1 Bedroom Updated Main Street1BR,1BA$1.30
Jefferson TownhomesOne Bedroom Garden1BR,1BA$1.30

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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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 $785.

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

The lowest price for a Cheap One Bedroom Waterloo Apartment is $730 at Brookside 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 $895 at Brookside 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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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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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.