Zumper
modified
5+ Days Ago

Highlights

  • All utilities included
  • Downtown area
  • Comfortable living space
  • Two spacious bedrooms
  • Well-appointed apartment

Location

309 Franklin St, Waterloo, IA 50703, USA
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Contact

Management

Caliber Group Property Management Co.

Leasing office

(319) 483-0004

Property Overview

309 Franklin is a well-rated property with a Zumper Expert rating of 8.8, showcasing an impressive balance of price and value at a perfect 10. Its amenities are exceptional, also rated 10 out of 10, while its downtown location offers unparalleled convenience, rated 9 out of 10. Additionally, the property features comfortable living spaces, two spacious bedrooms, and a transparent management approach, further enhancing its appeal 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

8.8
Very Good
With a solid 8.8 out of 10 overall, 309 Franklin is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 309 Franklin has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • High school nearby
  • Images Available

Floor plans

1BR/1.0BA1 bed1 bath$525 /mo1 unit availableWelcome to 309 Franklin #5, a one-bedroom, one-bathroom apartment located in the heart of Waterloo, IA. This apartment offers a secured entry system, providing peace of mind and added safety for residents. The convenience of having utilities included in the rent makes this apartment a hassle-free living experience. The apartment's location is another highlight, as it is situated in a convenient downtown area, providing easy access to a variety of local amenities. The one-bedroom layout is perfect for those seeking a comfortable and cozy living space. Experience the ease and comfort of living at 309 Franklin, where convenience and security are part of the package.
2BR/1.0BA2 bed1 bath$650 /mo2 units availableWelcome to this 2 Bedroom, 1 Bath Apartment, located in the heart of Waterloo, IA. This apartment offers a comfortable living space with two spacious bedrooms and a full bathroom. The apartment is designed to provide a convenient and hassle-free living experience, with all utilities included in the rent. The location is a major plus, as it is situated in the vibrant downtown area of Waterloo, putting you in close proximity to a variety of shops, restaurants, and entertainment venues. Experience the best of city living in this well-appointed apartment.

Let's explore this property.

Amenities for 309 Franklin

Apartment Amenities

One BathroomOne Bedroom
Two BedroomsTwo-Bedroom
Utilities Included

Appliances

FridgeOven
Refrigerator

Building

Controlled Access

Neighborhood

Convenient Downtown Location

Other

Utilties Included
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property
Building details

Property details

Units5
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About 309 Franklin

HomeApartments in Waterloo 309 Franklin

Welcome to this 2 Bedroom, 1 Bath Apartment, located in the heart of Waterloo, IA. This apartment offers a comfortable living space with two spacious bedrooms and a full bathroom. The apartment is designed to provide a convenient and hassle-free living experience, with all utilities included in the rent. The location is a major plus, as it is situated in the vibrant downtown area of Waterloo, putting you in close proximity to a variety of shops, restaurants, and entertainment venues. Experience the best of city living in this well-appointed apartment.


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.
8.8
/10
Very Good
With a solid 8.8 out of 10 overall, 309 Franklin is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 309 Franklin has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated 309 Franklin
Price·10A 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.
309 Franklin offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·10A 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.
309 Franklin stands out as a premier property with an impressive array of amenities and an excellent standard of living. Residents here have access to many of the most popular and desired perks, making this one of the top choices for renters seeking unparalleled comfort and convenience.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
309 Franklin 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 309 Franklin 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.
309 Franklin 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 309 Franklin compares to other nearby properties.

Positives

High school nearby
There is a high school 0.3 mile away
Images Available
There are at least 10 photos of this address

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Rent trends in Waterloo

1-bedroom apartments here are priced 19% lower than 1-bedrooms in Waterloo.

If you decide to upgrade your space, you can expect 2-bedrooms at 309 Franklin to be 21% less than the average for similarly sized apartments in Waterloo.

Median rents as of Jan 17 2026.
Waterloo
A table of studio rental data trends in Waterloo
MonthMedian Rent
February 2024$654
March 2024$635
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

Affordability calculator

Can I afford to live at 309 Franklin St?

Bedrooms

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

$21,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $21,000 annually to afford this 1-bedroom monthly rent price of $525.
For more information on rent affordability, visit our rent calculator.

Schools near 309 Franklin

Cunningham School

1224 mobile st

waterloo, IA, 50703

PK, K-5Public
C-
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Internet available near 309 Franklin

Neighborhood

NEIGHBORHOOD VIBE
Peaceful and quiet
Noise-canceling headphones not required in this mostly noise free area.

Getting around Waterloo near 309 Franklin St

Walking

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

Driving

7/10
This area is close to freeways and has adequate parking options.

Cycling

6/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.

Transit

3/10
There are a few mass transit options within the area.

Points of interest for 309 Franklin St, Waterloo

Groceries

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

Shopping

3/10
Some shops within walking distance

Cafes

1/10
Few or no cafés within walking distance

Restaurants

5/10
Some restaurants within a few minutes’ walk

Primary schools

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

High schools

9/10
At least one high school within a 10-minute walk

Nightlife

4/10
Some bars within walking distance

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