Cheap Apartments for Rent in the Gray's Lake Neighborhood of Des Moines, IA from $500 (90 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Gray's Lake area of Des Moines.

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Gray's Lake, Des Moines, IA Local Guide

Cheapest Available Gray's Lake Apartments for Rent

 

The cheapest available apartment rental in the Gray's Lake area of Des Moines, IA is a Studio unit found at Ingersoll Park Studios priced from $625. Melbourne has the second lowest priced unit, which is a 1 Bed apartment currently listed from $627. Here are the most affordable Gray's Lake apartments for rent in Des Moines, IA:

Apartment ListingModel NameBed/BathPriced From
Ingersoll Park Studios0BR/1.0BAStudio,1BA$625
MelbourneA2 - 40 - Income Restricted1BR,1BA$627
Ingersoll Park Studio Apartments 3607StudioStudio,1BA$675
Argonne ApartmentsStudio CStudio,1BA$695
Pioneer EstatesB11BR,1BA$700
Court Ave LoftsCA-A1 - Income Restricted1BR,1BA$705
1201 E Bell AvenueOne Bedroom Southside of Des Moines *No App Fee*1BR,1BA$715
Windsor Terrace ApartmentsStudioStudio,1BA$725
Wakonda Village and Manor Apartment HomesS1PwvStudio,1BA$735
Goldbriar Chateau1 Bedroom 1 Bathroom1BR,1BA$750

Best Value Apartments for Rent in Gray's Lake, IA

As of April 16, 2025 the best value apartment in the Gray's Lake area is the $0.93 price per square foot Riley Model at Ingersoll Towers in the in the Southwest Des Moines neighborhood starting from $994. The second greatest value Gray's Lake apartment is the 2 Bedroom Model at Magnolia Manor Apartments and Townhomes starting at $850 with a $0.89 price per square foot in the Southwest Des Moines neighborhood. Here is today’s list of the best values for Gray's Lake apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Ingersoll TowersRiley2BR,2BA$0.93
Magnolia Manor Apartments and Townhomes2 Bedroom2BR,1BA$0.89
High Street BrickstoneTwo Bedroom2BR,2BA$1.02
McKinley Apartments2BD/1.5BA2BR,2BA$1.13
The Pointe on Fleur2x1a2BR,1BA$0.95
The 31st Street ApartmentsOne Bedroom + Den1BR,1BA$1.06
Park Ridge Apartments1 Bedroom1BR,1BA$1.15
1201 E Bell AvenueOne Bedroom Southside of Des Moines *No App Fee*1BR,1BA$1.08
Village on Grand1 B 1 B1BR,1BA$1.21
Goldbriar Chateau1 Bedroom 1 Bathroom1BR,1BA$1.15

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Pet Friendly Lifestyle
Gray's Lake, Des Moines, IA

Ranked #8

Among neighborhoods in Des Moines, IA for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Gray's Lake, Des Moines, IA

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, including Des Moines. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including our Star Ratings to compare for outdoor amenities like tennis courts, luxury amenities, transit availability, pet-friendly communities, apartment communities for the kids, and more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Gray's Lake Apartments

What is a cheap apartment in Gray's Lake?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Gray's Lake is under $750.

What is the price of a cheap apartment in Gray's Lake?

The cheapest apartment in Gray's Lake is Melbourne which is listed at $627, while the average apartment in Gray's Lake costs $1,812.

What types of apartments are the cheapest in Gray's Lake?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 76 regular apartments in Gray's Lake that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Gray's Lake?

Cheap apartments in Gray's Lake have an average cost of $182 which is $1,630 cheaper than the average rent for all rentals in Gray's Lake.

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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.