Zumper
modified
5+ Days Ago

Highlights

  • Off-street parking
  • Modern finishes
  • Convenient in-unit laundry
  • Secure building access

Location

302 Commercial St, Waterloo, IA 50701, USA|Downtown Waterloo
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Contact

Management

Mgt Property Management Co

Leasing office

(319) 242-3020

Property Overview

Urban Lofts earns a solid Zumper rating of 7.6 out of 10, reflecting its attractiveness to renters. With a strong emphasis on amenities and location, it features modern finishes, in-unit laundry, and secure building access, all while maintaining competitive pricing. The property’s excellent transparency and trustworthiness further enhance its appeal, making it a well-rounded choice for prospective renters.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Things you’ll love” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

7.6
Very Good
Urban Lofts is worth considering and a notable rental in the neighborhood. Residents prioritizing Amenities will find this property to be a solid option for their next home. It may not stand out for Quality, but it offers a satisfying, above-average quality of life.

Things you’ll love

  • High school nearby
  • More space
  • Dishwasher

Floor plans

1BR/1.0BA1 bed1 bath652 sqft$950 /mo1 unit availableDon’t miss your chance to live in one of the most sought-after apartments in Downtown Waterloo. Located in the highly desirable Urban Lofts building, this beautifully renovated historic property blends classic character with modern finishes throughout. Residents enjoy secure building access, convenient in-unit laundry, and off-street parking—all designed to make everyday living easy and comfortable. Step outside and you’re just moments from some of downtown’s most popular destinations, including SingleSpeed Brewing Co.,Young Arena and the SportsPlex, along with restaurants, entertainment, and local events. Urban Lofts units rarely come available, making this a unique opportunity to live in one of downtown’s most desirable buildings. Schedule your showing today before this one is gone.

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Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property

Dog Policy

Not allowed

Cat Policy

Not allowed

No pets allowed.

Questions about this property’s policies and fees?

Building details

Property details

Units10
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About Urban Lofts

HomeApartments in WaterlooDowntown Waterloo Urban Lofts

Don’t miss your chance to live in one of the most sought-after apartments in Downtown Waterloo. Located in the highly desirable Urban Lofts building, this beautifully renovated historic property blends classic character with modern finishes throughout. Residents enjoy secure building access, convenient in-unit laundry, and off-street parking—all designed to make everyday living easy and comfortable. Step outside and you’re just moments from some of downtown’s most popular destinations, including SingleSpeed Brewing Co.,Young Arena and the SportsPlex, along with restaurants, entertainment, and local events. Urban Lofts units rarely come available, making this a unique opportunity to live in one of downtown’s most desirable buildings. Schedule your showing today before this one is gone.


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
7.6
/10
Very Good
Urban Lofts is worth considering and a notable rental in the neighborhood. Residents prioritizing Amenities will find this property to be a solid option for their next home. It may not stand out for Quality, but it offers a satisfying, above-average quality of life.
How we rated Urban Lofts
Price·7A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
While the monthly rent is more than the median price per bedroom of nearby properties, Urban Lofts has other amenities and features that might compensate for the increased price. The higher monthly rent potentially reflects a higher quality of living that renters might find here, compared to other properties in the area.
Amenities·9A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
Urban Lofts goes above and beyond to provide sought-after conveniences and desirable perks, including building or unit level amenities. Renters looking for popular or luxurious features will find them here—and for that reason, Urban Lofts receives one of the highest amenities scores.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Urban Lofts is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Urban Lofts does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
Urban Lofts provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How Urban Lofts compares to other nearby properties.

Positives

High school nearby
There is a high school 1 mile away
More space
The 1-bedroom is 69 sqft larger than other listings nearby
Dishwasher
Dishwasher available in kitchen
Elevator
Improved accessibility features

Considerations

Lacks images
Fewer than 10 photos available for this location

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Rent trends in Downtown Waterloo

1-bedroom apartments at Urban Lofts cost about 32% less than the average rent price for 1-bedroom apartments in Downtown Waterloo.

Median rents as of Mar 14 2026.
Downtown Waterloo
Waterloo
A table of studio rental data trends in Waterloo
MonthMedian Rent
March 2024$575
April 2024$518
May 2024$762
June 2024$918
July 2024$1,200
August 2024$1,200
September 2024$1,187
October 2024$1,187
November 2024$1,120
December 2024$1,106
January 2025$1,100
February 2025$1,062
March 2025$1,100
April 2025$1,100
May 2025$1,100
June 2025$1,072
July 2025$975
August 2025$1,100
September 2025$1,105
October 2025$991
November 2025$841
December 2025$666
January 2026$600
February 2026$692
March 2026$600
A table of studio rental data trends in Downtown Waterloo
MonthMedian Rent
June 2024$1,200
July 2024$1,300
August 2024$1,260
September 2024$1,200
October 2024$1,200
November 2024$1,200
December 2024$1,200
January 2025$1,200
February 2025$1,200
March 2025$1,200
April 2025$1,200
May 2025$1,200
June 2025$1,200
July 2025$1,200
August 2025$1,200
September 2025$1,200
November 2025$1,200
December 2025$1,200
February 2026$1,200
March 2026$1,200

Affordability calculator

Can I afford to live at 302 Commercial St?

Bedrooms

1 bedroom

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$38,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $38,000 annually to afford this 1-bedroom monthly rent price of $950.
For more information on rent affordability, visit our rent calculator.

Schools near Urban Lofts

Irving Elementary School

1115 w 5th st

waterloo, IA, 50702

PK, K-5Public
C

Cedar Falls Virtual Campus

1002 w 1st st

cedar falls, IA, 50613

K-12Public

Bess Streeter Aldrich Elementary School

2526 ashworth dr

cedar falls, IA, 50613

PK, K-6Public
A
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Internet available near Urban Lofts

Getting around Waterloo near 302 Commercial St

Walking

5/10
Some shops and stores are within a few minutes.

Driving

8/10
This area is close to freeways and has adequate parking options.

Cycling

6/10
More spots are within biking distance and some roads are cyclist-friendly.

Transit

2/10
There are a few mass transit options within the area.

Points of interest for 302 Commercial St, Waterloo

Groceries

8/10
At least one grocery store within a few minutes' walk

Shopping

3/10
Some shops within walking distance

Cafes

3/10
Few or no cafés within walking distance

Restaurants

5/10
Some restaurants within walking distance

Primary schools

5/10
At least one elementary school within a 20-minute walk

High schools

3/10
At least one high school within a 30-minute walk

Nightlife

4/10
Few or no bars within walking distance

Explore the area around 302 Commercial St

City of Waterloo-Public Market
327 W 3rd St
Balkan Grocery
1816 Williston Ave
Guddi Mart
506 Byron Ave
S International Market
822 Laporte Rd
Mooroo
3015 Kimball Ave

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