Cheap Homes for Rent in Downtown Waterloo Neighborhood of Waterloo, IA from $500 (10 Rentals)

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Search the lowest-cost Homes available for rent right now in the Downtown Waterloo area of Waterloo.

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Downtown Waterloo, Waterloo, IA Local Guide

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 ListingModel NameBed/BathPriced From
Russell LamsonStudioStudio,1BA$675
1106-1110 Kent CircleKent Circle 1 Bed/1 Bath1BR,1BA$750
Edgemont Park Apartments1 Bedroom Efficiency @ Edgemont ParkStudio,1BA$795

Best Value Apartments for Rent in Downtown Waterloo, IA

As of May 14, 2025 the best value apartment in the Downtown Waterloo area is the $0.61 price per square foot 918 W 4th St Model at 918 W 4th St, Unit 918 in the in the Downtown Waterloo neighborhood starting from $700. The second greatest value Downtown Waterloo apartment is the 1st Month Free Model at Riverwalk Residences starting at $1,300 with a $1.23 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 ListingModel NameBed/BathPrice Per Sq.Ft.
918 W 4th St, Unit 918918 W 4th St1BR,1BA$0.61
Riverwalk Residences1st Month Free2BR,2BA$1.23
The Grand CrossingCorner Loft @ Grand Crossing1BR,1BA$1.88
Leavitt Park Apartments - Waterloo, IAStandard Unit2BR,1BA$1.28
Union at North Crossing1 Bed 1 Bath1BR,1BA$1.30
Edgemont Park ApartmentsOne Bedroom Apartment With Poolside Balcony At ...1BR,1BA$1.34
Park Avenue LoftsLoft - AVAILABLE NOW!1BR,1BA$2.09
1106-1110 Kent CircleKent Circle 1 Bed/1 Bath1BR,1BA$1.56
Russell LamsonStudioStudio ,1BA$1.67
264 Baltimore St, Unit 3264 Baltimore StStudio ,1BA$2.00

Quick Rent Budget Calculator

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Frequently Asked Questions about Downtown Waterloo

What type of rentals are currently available in Downtown Waterloo?

There are currently 72 Apartments for Rent in Downtown Waterloo, IA with pricing that ranges from $550 to $2,500. There are also 45 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Waterloo ranging from $550 to $2,000.

What is the current price range for Rental Homes in Downtown Waterloo?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Waterloo ranges from $550 to $2,000 with an average monthly rent of $865.

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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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.