Cheap Homes for Rent in Waterloo, IN from $600 (8 Rentals)

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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.

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.

Waterloo, IN Local Guide

Cheapest Available Waterloo Apartments for Rent and Nearby

 

The cheapest available apartment rental in Waterloo, IN is a Studio unit found at Shoaff Park Villas in the Northeast Fort Wayne neighborhood priced from $645. Drake Terrace III has the second lowest priced unit, which is a 2 Beds apartment currently listed from $721. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Shoaff Park VillasStudio, 1 bathStudio,1BA$645
Drake Terrace III2 Bedroom2BR,1BA$721
Fountain Lake Apartment HomesVersailles1BR,1BA$815

Best Value Apartments for Rent in Waterloo, IN and Nearby

As of September 10, 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 Copper Creek Townhome Model at Copper Creek Villas starting at $1,795 with a $1.23 price per square foot in the Outer Northside 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
Copper Creek VillasCopper Creek Townhome3BR,2.5BA$1.23
Emerald Pointe (55+ Senior Community)Hawthorne2BR,1.5BA$1.16
Griswold Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$0.95
Windsor OaksThe Hickory2BR,1BA$1.28
Reserve at Dawson's CreekThe Primrose - Premium2BR,2BA$1.20
Crosswait Estates ApartmentsTwo Bedroom2BR,1BA$1.20
St Joe Place2x22BR,2BA$0.80
Drake Terrace III2 Bedroom2BR,1BA$0.96
Fountain Lake Apartment HomesVersailles1BR,1BA$1.13

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

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Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 49 Apartments for Rent in Waterloo, IN with pricing that ranges from $600 to $2,500. There are also 34 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $695 to $2,500.

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 $695 to $2,500 with an average monthly rent of $1,374.

How much are larger Three and Four Bedroom Rentals in Waterloo?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Waterloo range from $756 to $2,500, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,295 to $2,500. Four Bedroom Single-Family rentals are also available starting from $1,950 and Four Bedroom Apartments start at $600.

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 Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.