Cheap Apartments for Rent in Waterloo, IL from $600 (24 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

close
View Me
Pevely Pointe
1 to 3 Bedroom Apartments

Pevely Pointe

1001 Pevely Pointe DrPevely, MO 63070
  • Utilities Inc.
close
View Me
Southfield Apartments
1 to 2 Bedroom Apartments

Southfield Apartments

5549 Southfield DrSt. Louis, MO 63129
  • Utilities Inc.
Showing Results 1-24, Page 1 of 1

Waterloo, IL Local Guide

Cheapest Available Waterloo Apartments for Rent and Nearby

 

The cheapest available apartment rental in Waterloo, IL is a 1 Bed unit found at Evergreen Manor in the Green Park neighborhood priced from $700. Taravue Park Apartments in the River Breeze Estates neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $745. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Evergreen ManorOne Bedroom1BR,1BA$700
Taravue Park ApartmentsCumberlandStudio,1BA$745
The VineyardsZinfandel1BR,1BA$790
Oakbrook Gardens1BR/1BA1BR,1BA$795
Jefferson TownhomesOne Bedroom Garden1BR,1BA$795

Best Value Apartments for Rent in Waterloo, IL and Nearby

As of February 27, 2025 the best value apartment in the Waterloo area is the $1.14 price per square foot Standard First Floor Model at Bridgewater Apartments in the in the River Breeze Estates neighborhood starting from $1,200. The second greatest value Waterloo apartment is the 1BR/1.5BA Model at Yorktowne Apartments starting at $1,020 with a $1.02 price per square foot in the River Breeze Estates neighborhood. 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.
Bridgewater ApartmentsStandard First Floor2BR,2BA$1.14
Yorktowne Apartments1BR/1.5BA1BR,1.5BA$1.02
The VineyardsMerlot3BR,2BA$1.18
Suson PinesDOGWOOD2BR,1BA$1.20
Lakewood Apartments2A2BR,2BA$1.24
Canyon CreekHollow1BR,1BA$1.25
Evergreen ManorOne Bedroom1BR,1BA$1.00
Covington Place Apartments1 Bedroom and 1 Bathroom1BR,1BA$1.26
Jefferson TownhomesOne Bedroom Garden1BR,1BA$1.30
Oakbrook Gardens1BR/1BA1BR,1BA$1.31

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

decorative image of people with a giant lease agreement

Best Local Schools in
Waterloo, IL

School data provided by Great Schools

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

Explore Waterloo, IL Rentals by Map

Decorative image of map

See the most popular apartments and homes in Waterloo, IL

View MapWaterloo, IL Apartments MapView MapWaterloo, IL Rental Homes Map

Getting Around Waterloo, IL

Walk Score®

29 / 100

Car-Dependent

Most errands require a car

Bike Score®

32 / 100

Somewhat Bikeable

Minimal bike infrastructure

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 the Cheapest Studio apartment in Waterloo?

Currently the most affordable Cheap Studio Apartment in Waterloo is at Taravue Park listed at $745.

How much is rent for a Cheap One Bedroom Waterloo Apartment?

The lowest price for a Cheap One Bedroom Waterloo Apartment is $700 at Evergreen Manor.

What is the lowest price for a Cheap Two Bedroom Waterloo Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Waterloo is starting from $790 at Evergreen Manor.

What is the most affordable Waterloo Three Bedroom Apartment?

The best deal on a cheap Waterloo Three Bedroom Apartment rental is at Jefferson Townhomes and starts from $1,050.

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.

decorative image for What to Know About Fees and Fines When Renting article

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.

decorative image for How Your Move-In Inspection Can Protect Your Security Deposit article

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.

decorative image for Signing Your Apartment Lease: The Basics article

Signing Your Apartment Lease: The Basics

Written by: Trey Huguley

When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.