Cheap Apartments for Rent in Waterloo, IA from $400 (50 Rentals)

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

property at 820 W 2nd St

820 W 2nd St

WaterlooIA50701
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1937 Pinehurst Ln
1 Bedroom Apartments

1937 Pinehurst Ln

1937 Pinehurst LnWaterloo, IA 50701
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Cedar Crest Apartments
1 to 4 Bedroom Apartments

Cedar Crest Apartments

405 W Donald StWaterloo, IA 50703
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Crossroads Square
1 Bedroom Apartments

Crossroads Square

1820 E Ridgeway AveWaterloo, IA 50702
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Camelot Apartments
2 Bedroom Apartments

Camelot Apartments

1650 Camelot DrWaterloo, IA 50702
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Greenridge Apartments
2 Bedroom Apartments

Greenridge Apartments

1645 Camelot DrWaterloo, IA 50702
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property at 611 W 12th St

611 W 12th St

Cedar FallsIA50613
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2723 Terrace Drive
1 Bedroom Apartments

2723 Terrace Drive

2723 Terrace DrCedar Falls, IA 50613
  • Utilities Included
Showing Results 1-50, Page 1 of 1

Waterloo, IA Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Waterloo, IA

Pricing Updated: 03/26/2025

Current apartment rentals in the Waterloo, IA area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Waterloo Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Waterloo$1,151$5753339

Cheapest Available Waterloo Apartments for Rent

 

The cheapest available apartment rental in Waterloo, IA is a 4 Beds unit found at Residences at College Hill in the Downtown Cedar Falls neighborhood priced from $425. Meadow Ridge Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $675. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Residences at College Hill4 bed / 1 bath - Private Bedroom Only4BR,1BA$425
Meadow Ridge Apartments1 BR/ 1 BA1BR,1BA$675
Russell LamsonStudioStudio,1BA$675
1106-1110 Kent CircleKent Circle 1 Bed/1 Bath1BR,1BA$750
Union at North Crossing1 Bed 1 Bath1BR,1BA$757
1637 Carriage Hill Dr2 BR/ 1 BA2BR,1BA$775
Cobblestone Circle ApartmentSpacious 2 Bedroom 1Bath Apartment in Secure Bu...2BR,1BA$775
228 Spaces - Furnished Micro-Living Apartments2nd Floor StudioStudio,1BA$795

Best Value Apartments for Rent in Waterloo, IA

As of March 26, 2025 the best value apartment in the Waterloo area is the $1.08 price per square foot 2109 Walnut St Model at 2109 Walnut St, Unit WALNUT lower in the in the Downtown Cedar Falls neighborhood starting from $1,400. The second greatest value Waterloo apartment is the 2 BR/ 2 BA Model at 3714 Ravenwood Cir starting at $1,100 with a $1.05 price per square foot . 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.
2109 Walnut St, Unit WALNUT lower2109 Walnut St4BR,2BA$1.08
3714 Ravenwood Cir2 BR/ 2 BA2BR,2BA$1.05
Hawkeye Towers3/2.003BR,2BA$0.50
Pineview Place ApartmentsPrime Waterloo Living: 2-Bedroom / 1-Bath Apart...2BR,1BA$1.00
Kinsale CondominiumsTwo Bedroom w/ Garage2BR,1BA$1.00
Le Chateau2BR/1.5BA2BR,1.5BA$0.96
Cobblestone Circle ApartmentSpacious 2 Bedroom 1Bath Apartment in Secure Bu...2BR,1BA$0.92
1637 Carriage Hill Dr2 BR/ 1 BA2BR,1BA$1.10
832 W 1st St, Unit 832 1/2 W832 W 1st St1BR,1BA$1.01
1422 Irish Dr, Unit 41422 Irish Dr1BR,1BA$1.02

Quick Rent Budget Calculator

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Waterloo Overview

Black Hawk County, located in Iowa, is a beautiful part of the country. One of the jewels is Waterloo, IA, which is the county seat. Waterloo is not far from Cedar Falls, however, it still has beautiful living opportunities in its own right. If you are looking for apartments in Waterloo, Iowa, what do you need to know about this area? Take a look at some important information and find the best Waterloo apartments in the region.á

Why live in Waterloo, IA?

There are lots of reasons why people choose to live in the beautiful area of Waterloo. First, traffic is relatively light, allowing people to spend more time doing what they love instead of sitting in traffic. Next, the cost of living in Waterloo is very low. That is because real estate is not that expensive. Finally, there are lots of friendly people who live in Waterloo as well. Lots of people are willing to help each other out, making Waterloo a beautiful place for young professionals and family.á

Best Local Schools in
Waterloo, IA

School data provided by Great Schools

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

Explore Waterloo, IA Rentals by Map

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See the most popular apartments and homes in Waterloo, IA

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Getting Around Waterloo, IA

Walk Score®

47 / 100

Car-Dependent

Most errands require a car

Bike Score®

53 / 100

Bikeable

Some bike infrastructure

Transit Score®

24 / 100

Minimal Transit

It may be possible to get on a bus

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

What is a cheap apartment in Waterloo?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Waterloo is under $795.

What is the price of a cheap apartment in Waterloo?

The cheapest apartment in Waterloo is Meadow Ridge Apartments which is listed at $675, while the average apartment in Waterloo costs $1,151.

What types of apartments are the cheapest in Waterloo?

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 1,122 regular apartments in Waterloo 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 Waterloo?

Cheap apartments in Waterloo have an average cost of $368 which is $783 cheaper than the average rent for all rentals in Waterloo.

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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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.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.