
Cheap Apartments for Rent in Waterloo, IA from $400 (50 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterloo.


518 W 6th St

326 Fowler St

605 Wellington Ct

227 Allen St

832 W 1st St, Unit 832 1/2 W

1003 Grant Ave

225 Miriam Dr

107 Dearborn Ave

820 W 2nd St

313 Denver St

Meadow Ridge Apartments

439 Gladys St

216 Allen St

1106-1110 Kent Circle

125 Western Ave

Union at North Crossing

1637 Carriage Hill Dr

500-514 Pine St

712 Riverside Dr

Edgemont Park Apartments

401 Argyle St

2503 Olive St

201 Main St

501 W 2nd St

611 W 12th St

University Manor

228 Spaces - Furnished Micro-Living Apartments

Falls Edge Studios
Waterloo, IA Local Guide

How much does it cost to rent an apartment in Waterloo?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Cheap Waterloo Studio Apartments | $975 | $675 | $1,300 |
Cheap Waterloo 1 Bedroom Apartments | $1,002 | $575 | $1,800 |
Cheap Waterloo 2 Bedroom Apartments | $1,250 | $650 | $3,433 |
Cheap Waterloo 3 Bedroom Apartments | $1,203 | $505 | $1,950 |
Cheap Waterloo 4 Bedroom Apartments | $1,029 | $425 | $1,700 |
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Waterloo, IA Local Guide

- Waterloo Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Neighborhoods for Apartments in Waterloo, IA
Pricing Updated: 03/21/2025Current 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:
Neighborhood | Median Price | Min Price | Available Units |
---|---|---|---|
Downtown Waterloo | $1,151 | $575 | 3335 |
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. Russell Lamson in the Downtown Waterloo neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $675. Here is today’s list of the most affordable Waterloo apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Residences at College Hill | 4 bed / 1 bath - Private Bedroom Only | 4BR,1BA | $425 |
Russell Lamson | Studio | Studio,1BA | $675 |
Meadow Ridge Apartments | 1 BR/ 1 BA | 1BR,1BA | $675 |
1106-1110 Kent Circle | Kent Circle 1 Bed/1 Bath | 1BR,1BA | $750 |
Union at North Crossing | 1 Bed 1 Bath | 1BR,1BA | $757 |
1637 Carriage Hill Dr | 2 BR/ 1 BA | 2BR,1BA | $775 |
Cobblestone Circle Apartment | Spacious 2 Bedroom 1Bath Apartment in Secure Bu... | 2BR,1BA | $775 |
Edgemont Park Apartments | 1 Bedroom Efficiency @ Edgemont Park | Studio,1BA | $795 |
Best Value Apartments for Rent in Waterloo, IA
As of March 21, 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
2109 Walnut St, Unit WALNUT lower | 2109 Walnut St | 4BR,2BA | $1.08 |
3714 Ravenwood Cir | 2 BR/ 2 BA | 2BR,2BA | $1.05 |
Hawkeye Towers | 3/2.00 | 3BR,2BA | $0.50 |
Pineview Place Apartments | Prime Waterloo Living: 2-Bedroom / 1-Bath Apart... | 2BR,1BA | $1.00 |
Kinsale Condominiums | Two Bedroom w/ Garage | 2BR,1BA | $1.00 |
Le Chateau | 2BR/1.5BA | 2BR,1.5BA | $0.96 |
Cobblestone Circle Apartment | Spacious 2 Bedroom 1Bath Apartment in Secure Bu... | 2BR,1BA | $0.92 |
1637 Carriage Hill Dr | 2 BR/ 1 BA | 2BR,1BA | $1.10 |
832 W 1st St, Unit 832 1/2 W | 832 W 1st St | 1BR,1BA | $1.01 |
1422 Irish Dr, Unit 4 | 1422 Irish Dr | 1BR,1BA | $1.02 |
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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
Kingsley Elementary School
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Waterloo, IA Rentals by Map
See the most popular apartments and homes in Waterloo, IA
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 1,051 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 $343 which is $808 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.

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.

What to Know About Fees and Fines When Renting
Written by: Trey Huguley
When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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.

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.