
Cheap Apartments for Rent in Waterloo, OR from $600 (14 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterloo.


The Vicinity

Queen Anne

Rivergreen Landing

McKinney Lane Apartments

Timber Ridge Place Apartment Homes

Aspen Place Apartments
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.

Park Plaza

311 Spaulding Ave

33213 Santiam Hwy SE

163 E Grant St

Wolf Ridge

208 SE 5th Ave

154 Cleveland St
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, OR Local Guide

How much does it cost to rent an apartment in Waterloo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Waterloo Studio Apartments | $1,457 | $1,196 | $1,699 |
| Waterloo 1 Bedroom Apartments | $1,496 | $695 | $1,999 |
| Waterloo 2 Bedroom Apartments | $1,705 | $1,000 | $2,340 |
| Waterloo 3 Bedroom Apartments | $2,111 | $1,599 | $2,945 |
| Waterloo 4 Bedroom Apartments | $2,950 | $1,900 | $4,000 |
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Waterloo, OR Local Guide
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Cheapest Available Waterloo Apartments for Rent and Nearby
 The cheapest available apartment rental in Waterloo, OR is a 2 Beds unit found at The Vicinity priced from $1,000. McKinney Lane Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,196. Here is today’s list of the most affordable Waterloo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Vicinity | 2.S | 2BR,1BA | $1,000 |
| McKinney Lane Apartments | Chestnut | Studio,1BA | $1,196 |
| Queen Anne | Two Bedroom - 60% | 2BR,2BA | $1,260 |
| Aspen Place Apartments | 1 Bedroom - Outside Gate | 1BR,1BA | $1,300 |
| Parkside Apartments | 1 x 1 | 1BR,1BA | $1,305 |
Best Value Apartments for Rent in Waterloo, OR and Nearby
As of March 30, 2026 the best value apartment in the Waterloo area is the $1.01 price per square foot 2BR/1.5BA Model at Parkview Manor Apartments in the starting from $1,395. The second greatest value Waterloo apartment is the Two Bedroom - 60% Model at Queen Anne starting at $1,260 with a $1.32 price per square foot . 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. |
|---|---|---|---|
| Parkview Manor Apartments | 2BR/1.5BA | 2BR,1.5BA | $1.01 |
| Queen Anne | Two Bedroom - 60% | 2BR,2BA | $1.32 |
| Crystal Lake Apartments | 2BR 2 Bath | 2BR,2BA | $1.70 |
| Veri at Timberhill | Two Bedroom Townhome | 2BR,1.5BA | $2.02 |
| Parkside Apartments | 1 x 1 | 1BR,1BA | $1.53 |
| The Maples Apartments | 1 Bedroom | 1BR,1BA | $1.72 |
| Hickory Lake | 1x1 | 1BR,1BA | $1.79 |
| Villa Chateau Apartments | 2/1.5 A | 2BR,1.5BA | $1.86 |
| Plumtree Apartments | 1x1 - Phase II | 1BR,1BA | $2.05 |
| Aspen Place Apartments | 1 Bedroom - Outside Gate | 1BR,1BA | $1.79 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read ArticleDon'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 ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
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Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleQuick Rent Budget Calculator
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Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Waterloo, OR Rentals by Map
See the most popular apartments and homes in Waterloo, OR
Frequently Asked Questions about Cheap Waterloo Apartments
What is the Cheapest Studio apartment in Waterloo?
Currently the most affordable Cheap Studio Apartment in Waterloo is at McKinney Lane Apartments listed at $1,196.
How much is rent for a Cheap One Bedroom Waterloo Apartment?
The lowest price for a Cheap One Bedroom Waterloo Apartment is $1,300 at Aspen Place 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 $1,000 at The Vicinity.
What is the most affordable Waterloo Three Bedroom Apartment?
The best deal on a cheap Waterloo Three Bedroom Apartment rental is at Parkside Apartments and starts from $1,695.
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

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.