117 S 4th St
DupoIL62239
Cheap Homes for Rent in Waterloo, IL from $525 (6 Rentals)
Search the lowest-cost Homes available for rent right now in Waterloo.
414 S 10th St
BellevilleIL62220
9964 Meadow Ave
St. LouisMO63125
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
318 Levin Dr
SaugetIL62206
311 W Mill St
WaterlooIL62298
6 N Railroad St
FreeburgIL62243
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
Showing Results 1-6, 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 | $1,168 | $950 | $1,450 |
| Waterloo 3 Bedroom Homes for Rent | $1,458 | $1,050 | $2,300 |
| Waterloo 4 Bedroom Homes for Rent | $1,921 | $1,320 | $2,400 |
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: 09/01/2026Current apartment rentals in the Waterloo, IL area range in price from $900 to $1,695 with an overall median price of $1,300. 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 | $1,300 | $900 | 3 |
Cheapest Available Waterloo Apartments for Rent and Nearby
The cheapest available apartment rental in Waterloo, IL is a 1 Bed unit found at Jefferson Townhomes in the Lemay neighborhood priced from $725. Telegraph Crossing in the River Breeze Estates neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $845. Here is today’s list of the most affordable Waterloo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Jefferson Townhomes | One Bedroom Garden | 1BR,1BA | $725 |
| Telegraph Crossing | One Bedroom Standard | 1BR,1BA | $845 |
| Covington Place Apartments | 2 Bedroom and 1 Bathroom | 2BR,1BA | $864 |
Best Value Apartments for Rent in Waterloo, IL and Nearby
As of September 01, 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 404 Flower St Model at 404 Flower St, Unit 404 Flower starting at $1,500 with a $1.17 price per square foot in the Metro East 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 |
| 404 Flower St, Unit 404 Flower | 404 Flower St | 3BR,2BA | $1.17 |
| 722 Abend St | B | 2BR,1.5BA | $0.95 |
| Lakewood Apartments | 2A | 2BR,2BA | $1.24 |
| Southfield Apartments | 2Bd/1Ba | 2BR,1BA | $1.11 |
| Heatherbrook | 2BR/2.0BA | 2BR,2BA | $1.37 |
| Covington Place Apartments | 2 Bedroom and 1 Bathroom | 2BR,1BA | $1.03 |
| Tuscany Village Apartments | 2 Bedroom 1 Bath | 2BR,1BA | $1.25 |
| Suson Pines | ELM | 1BR,1BA | $1.36 |
| Jefferson Townhomes | One Bedroom Garden | 1BR,1BA | $1.19 |
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 Article
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.
Let everyone know!
Do you know the Waterloo area?
If you’re an expert on all things Waterloo, tell us what you love (and don't) by rating it and writing a review.
Write a Review
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 48 Apartments for Rent in Waterloo, IL with pricing that ranges from $386 to $2,400. There are also 44 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $525 to $2,400.
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 $525 to $2,400 with an average monthly rent of $1,433.
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
Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.
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.