
Cheap Apartments for Rent in the Downtown Waterloo Neighborhood of Waterloo, IA from $400 (33 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Waterloo area of Waterloo.


518 W 6th St

727 South St

326 Fowler St

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

605 Wellington Ct

227 Allen St

107 Dearborn Ave

1003 Grant Ave

820 W 2nd St

313 Denver St

439 Gladys St

216 Allen St

125 Western Ave

1106-1110 Kent Circle

Union at North Crossing

500-514 Pine St

401 Argyle St

Leavitt Park Apartments - Waterloo, IA

437 Riehl St

621 W 9th St

416 Sunnyside Ave

310 Cutler St

220-224-224 E 4th St

233 Madison St

213 Manson St

800 W Mullan Ave

227 Madison St
Downtown Waterloo, Waterloo, IA Local Guide

How much does it cost to rent an apartment in Downtown Waterloo?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Downtown Waterloo Studio Apartments | $1,008 | $675 | $1,300 |
Downtown Waterloo 1 Bedroom Apartments | $942 | $575 | $1,800 |
Downtown Waterloo 2 Bedroom Apartments | $1,103 | $650 | $2,500 |
Downtown Waterloo 3 Bedroom Apartments | $1,040 | $615 | $1,151 |
Browse Apartments in this Neighborhood
There are currently 33 rentals with your search options within a 2 mile radius of the Downtown Waterloo Neighborhood of Waterloo, IA.
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Cheapest Available Downtown Waterloo Apartments for Rent
 The cheapest available apartment rental in the Downtown Waterloo area of Waterloo, IA is a Studio unit found at Russell Lamson priced from $675. 1106-1110 Kent Circle has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here are the most affordable Downtown Waterloo apartments for rent in Waterloo, IA:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Russell Lamson | Studio | Studio,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 |
Leavitt Park Apartments - Waterloo, IA | Standard Unit | 2BR,1BA | $800 |
Edgemont Park Apartments | One Bedroom Apartment At Top Rated Edgemont Par... | 1BR,1BA | $845 |
Park Avenue Lofts | Studio - AVAILABLE NOW! | Studio,1BA | $1,100 |
Art Bloc | Studio | Studio,1BA | $1,200 |
The Grand Crossing | Lofts @Grand Crossing | 1BR,1BA | $1,300 |
Riverwalk Residences | 1st Month Free | 2BR,2BA | $1,300 |
Best Value Apartments for Rent in Downtown Waterloo, IA
As of March 30, 2025 the best value apartment in the Downtown Waterloo area is the $1.23 price per square foot 1st Month Free Model at Riverwalk Residences in the in the Downtown Waterloo neighborhood starting from $1,300. The second greatest value Downtown Waterloo apartment is the 2 Bed 2 Bath Model at Union at North Crossing starting at $993 with a $1.13 price per square foot in the Downtown Waterloo neighborhood. Here is today’s list of the best values for Downtown Waterloo apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Riverwalk Residences | 1st Month Free | 2BR,2BA | $1.23 |
Union at North Crossing | 2 Bed 2 Bath | 2BR,2BA | $1.13 |
The Grand Crossing | Corner Loft @ Grand Crossing | 1BR,1BA | $1.88 |
Leavitt Park Apartments - Waterloo, IA | Standard Unit | 2BR,1BA | $1.14 |
Edgemont Park Apartments | Edgemont 1 bed/1bath Poolside Balcony | 1BR,1BA | $1.34 |
Park Avenue Lofts | Loft - AVAILABLE NOW! | 1BR,1BA | $2.09 |
832 W 1st St, Unit 832 1/2 W | 832 W 1st St | 1BR,1BA | $1.01 |
1106-1110 Kent Circle | Kent Circle 1 Bed/1 Bath | 1BR,1BA | $1.56 |
Russell Lamson | Studio | Studio ,1BA | $1.67 |
Art Bloc | Studio | Studio ,1BA | $3.04 |
Getting Around the Downtown Waterloo Neighborhood in Waterloo, IA
Walk Score®
75 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
77 / 100
Very Bikeable
Biking is convenient for most trips
Transit Score®
35 / 100
Some Transit
A few nearby public transportation options
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 Downtown Waterloo Apartments
What is a cheap apartment in Downtown Waterloo?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Waterloo is under $1,300.
What is the price of a cheap apartment in Downtown Waterloo?
The cheapest apartment in Downtown Waterloo is 1106-1110 Kent Circle which is listed at $750, while the average apartment in Downtown Waterloo costs $1,151.
What types of apartments are the cheapest in Downtown 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 17 regular apartments in Downtown 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 Downtown Waterloo?
Cheap apartments in Downtown Waterloo have an average cost of $367 which is $784 cheaper than the average rent for all rentals in Downtown 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.

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.

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.