Cheap Apartments for Rent in Waterloo, IN from $300 (39 Rentals)

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

property at 255 S Wayne St

$725 - $750

1 Bedroom Rentals

Available Now

255 S Wayne St

WaterlooIN46793
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Montrose Square
$702 - $1,547
Total Monthly Price

Total Monthly Price

Base Rent
$702 - $1,547
Total Monthly Price
$702 - $1,547
Studio to 2 Bedroom Apartments Contact Us For Availability

Montrose Square

6531 Emmons DrFort Wayne, IN 46835
Affordability
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  • Customer Reviewed
  • Utilities Included

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.

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Terrace Place Apartments
$1,199 - $1,799
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Total Monthly Price

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$1,199 - $1,799
Total Monthly Price
$1,199 - $1,799
1 to 2 Bedroom Apartments Contact Us For Availability

Terrace Place Apartments

400 N Terrace BlvdAngola, IN 46703
Furnished
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  • Utilities Included

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.

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Atz Place
1 to 2 Bedroom Apartments

Atz Place

301 E Wayne StKendallville, IN 46755
Senior Living

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Northcrest Apartments
Studio to 3 Bedroom Apartments

Northcrest Apartments

810 Regency CtAngola, IN 46703
  • Utilities Included
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1030 Wayne St
2 Bedroom Apartments

1030 Wayne St

1030 Wayne StAngola, IN 46703
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Island Club
1 to 2 Bedroom Apartments

Island Club

2302 E Wallen RdFort Wayne, IN 46825

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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41 North Senior Living
1 to 2 Bedroom Apartments

41 North Senior Living

5532 Dayspring PathFort Wayne, IN 46835
Senior Living
  • Utilities Included
Showing Results 1-39, Page 1 of 1

Waterloo, IN Local Guide

Cheapest Available Waterloo Apartments for Rent and Nearby

 

The cheapest available apartment rental in Waterloo, IN is a 2 Beds unit found at Drake Terrace III priced from $741. Deerfield Village has the second lowest priced unit, which is a 1 Bed apartment currently listed from $945. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Drake Terrace III2 Bedroom2BR,1BA$741
Deerfield VillageOne Bedroom1BR,1BA$945
Fountain Lake Apartment HomesBellagio2BR,1BA$964
Nelson Estates Apartments2Bed_1Bath2BR,1BA$999
Crosswait Estates ApartmentsTwo Bedroom2BR,1BA$1,089
Griswold Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1,134
Dupont Lakes ApartmentsOne Bedroom1BR,1BA$1,155
Homestead Village Fort Wayne - Active Living 55+The Audrey1BR,1BA$1,200
Emerald Pointe (55+ Senior Community)Hawthorne2BR,1BA$1,225
Huntertown ApartmentsTwo Bedroom2BR,1BA$1,250

Best Value Apartments for Rent in Waterloo, IN and Nearby

As of July 28, 2026 the best value apartment in the Waterloo area is the $0.83 price per square foot Two Bedroom Model at Huntertown Apartments in the in the Outer Northside neighborhood starting from $1,250. The second greatest value Waterloo apartment is the Villa Model at Copper Creek Villas starting at $1,895 with a $1.30 price per square foot in the Pine Valley 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.
Huntertown ApartmentsTwo Bedroom2BR,1.5BA$0.83
Copper Creek VillasVilla3BR,2.5BA$1.30
Emerald Pointe (55+ Senior Community)Hawthorne2BR,1.5BA$1.16
Griswold Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.08
Windsor OaksThe Hickory2BR,1BA$1.28
Fountain Lake Apartment HomesBuckingham2BR,1.5BA$1.03
Nelson Estates Apartments2Bed_1Bath2BR,1BA$1.04
Crosswait Estates ApartmentsTwo Bedroom2BR,1BA$1.13
St Joe Place2x22BR,2BA$0.80
Drake Terrace III2 Bedroom2BR,1BA$0.99

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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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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 $945 at Deerfield Village.

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 $741 at Drake Terrace III.

What is the most affordable Waterloo Three Bedroom Apartment?

The best deal on a cheap Waterloo Three Bedroom Apartment rental is at Drake Terrace III and starts from $776.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.

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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.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.