Cheap Apartments for Rent in Waterloo, IN from $500 (17 Rentals)

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

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Montrose Square
Studio to 2 Bedroom Apartments

Montrose Square

6531 Emmons DrFort Wayne, IN 46835
  • Utilities Included

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.

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Waterloo, IN Local Guide

Cheapest Available Waterloo Apartments for Rent and Nearby

 

The cheapest available apartment rental in Waterloo, IN is a 3 Beds unit found at Yugo Fort Wayne Arch in the Northeast Fort Wayne neighborhood priced from $549. Shoaff Park Villas in the Northeast Fort Wayne neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $645. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Yugo Fort Wayne Arch3 Bed, 3 Bath Plus3BR,3BA$549
Shoaff Park VillasStudio, 1 bathStudio,1BA$645
Wood Creek ApartmentsThe Willow1BR,1BA$744
Homestead Village Fort Wayne - Active Living 55+ CommunityThe Audrey1BR,1BA$999
Nelson Estates Apartments2Bed_1Bath2BR,1BA$1,084

Best Value Apartments for Rent in Waterloo, IN and Nearby

As of June 09, 2025 the best value apartment in the Waterloo area is the $0.87 price per square foot Two Bedroom Model at Huntertown Apartments in the in the Outer Northside neighborhood starting from $1,300. The second greatest value Waterloo apartment is the 2 Bedroom 2 Bath Model at Evard Place - Solar Powered starting at $1,600 with a $1.07 price per square foot in the Northeast Fort Wayne 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,2.5BA$0.87
Evard Place - Solar Powered2 Bedroom 2 Bath2BR,2BA$1.07
Copper Creek VillasCopper Creek Townhome3BR,2.5BA$1.23
Reserve at Dawson's CreekThe Goldenrod - Premium3BR,2BA$1.21
Island ClubGrand Bahamas2BR,2BA$1.15
Griswold Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.03
Nelson Estates Apartments2Bed_1Bath2BR,1BA$1.13
Yugo Fort Wayne Arch2 Bed, 2 Bath Plus2BR,2BA$0.65
St Joe Place2x22BR,2BA$0.80
Wood Creek ApartmentsThe Willow1BR,1BA$1.24

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Best Local Schools in
Waterloo, IN

School data provided by Great Schools

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See the most popular apartments and homes in Waterloo, IN

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Getting Around Waterloo, IN

Walk Score®

13 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

29 / 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 $744 at Wood Creek 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 $609 at Yugo Fort Wayne Arch.

What is the most affordable Waterloo Three Bedroom Apartment?

The best deal on a cheap Waterloo Three Bedroom Apartment rental is at Yugo Fort Wayne Arch and starts from $549.

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.

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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.

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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.

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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.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.