117 S 4th St
DupoIL62239
Cheap Homes for Rent in Waterloo, IL from $600 (11 Rentals)
Search the lowest-cost Homes available for rent right now in Waterloo.
104 N 27th St
BellevilleIL62226
729 union
SwanseaIL62220
318 Levin Dr
SaugetIL62206
47 St Henry Dr
SaugetIL62206
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.
152 W Etta Ave
St. LouisMO63125
316 W Mill St
WaterlooIL62298
1901 Doris Ave
CahokiaIL62206
262 St John Dr
CahokiaIL62206
327 Sauget Ave
SaugetIL62206
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.
1 Dora Dr
SaugetIL62206
Showing Results 1-11, Page 1 of 1
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 a home in Waterloo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Waterloo 2 Bedroom Homes for Rent | $1,233 | $800 | $1,595 |
| Waterloo 3 Bedroom Homes for Rent | $1,738 | $1,050 | $3,000 |
| Waterloo 4 Bedroom Homes for Rent | $1,778 | $1,320 | $2,355 |
| Waterloo 7 Bedroom Homes for Rent | $2,700 | $2,700 | $2,700 |
Browse Top Homes for Rent in Waterloo
Explore Waterloo
Waterloo, IL Local Guide
- Waterloo Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Waterloo, IL
Pricing Updated: 07/17/2026Current 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 | $1,775 | $1,300 | 1 |
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. Brookside Apartments in the Belleville neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $730. Here is today’s list of the most affordable Waterloo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Taravue Park Apartments | Cumberland | Studio,1BA | $710 |
| Brookside Apartments | 1 Bedroom Main Street | 1BR,1BA | $730 |
| Jefferson Townhomes | One Bedroom Garden | 1BR,1BA | $775 |
| Covington Place Apartments | 2 Bedroom and 1 Bathroom | 2BR,1BA | $842 |
| Elm Garden Apartments | 2 Beds, 1 bath | 2BR,1BA | $850 |
Best Value Apartments for Rent in Waterloo, IL and Nearby
As of July 17, 2026 the best value apartment in the Waterloo area is the $1.03 price per square foot 2BR/2.0BA Model at Lyon School Apartments in the in the Princeton Heights neighborhood starting from $1,517. The second greatest value Waterloo apartment is the Standard Third Floor Model at Bridgewater Apartments starting at $1,175 with a $1.12 price per square foot in the River Breeze Estates 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. |
|---|---|---|---|
| Lyon School Apartments | 2BR/2.0BA | 2BR,2BA | $1.03 |
| Bridgewater Apartments | Standard Third Floor | 2BR,2BA | $1.12 |
| Lakewood Apartments | 2A | 2BR,2BA | $1.24 |
| Black Forest Apartments | Two Bedroom | 2BR,1BA | $1.23 |
| Elm Garden Apartments | 2 Beds, 1 bath | 2BR,1BA | $0.98 |
| Heatherbrook | 2BR/2.0BA | 2BR,2BA | $1.37 |
| Tuscany Village Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.25 |
| Southfield Apartments | 1Bd/1Ba | 1BR,1BA | $1.36 |
| Brookside Apartments | 1 Bedroom Updated Main Street | 1BR,1BA | $1.30 |
| Jefferson Townhomes | One Bedroom Garden | 1BR,1BA | $1.27 |
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.
Read Article
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.
Read ArticleQuick 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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Best Local Schools in Waterloo, IL
Rogers Elementary School
Waterloo Community Unit School District 5
Public School - Grades K-5 (415)
10 out of 10
Waterloo High School
Waterloo Community Unit School District 5
Public School - Grades 9-12 (842)
6 out of 10
Waterloo Junior High School
Waterloo Community Unit School District 5
Public School - Grades 6-8 (610)
7 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
Frequently Asked Questions about Waterloo
What type of rentals are currently available in Waterloo?
There are currently 47 Apartments for Rent in Waterloo, IL with pricing that ranges from $386 to $2,369. There are also 42 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $650 to $3,000.
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 $650 to $3,000 with an average monthly rent of $1,639.
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
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.
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.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
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.