Zumper
modified
Updated 17 Hours Ago

Highlights

  • Pet Friendly
  • Private balconies
  • Prime location
  • Fitness center
  • Resort-style pool
  • Central air conditioning
  • Off-street parking

Location

1141 Lantern Sq, Waterloo, IA 50701, USA
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Tour Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms

Contact

Management

Paul Melick Properties

Leasing office

(319) 240-0188

Property Overview

Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms combines strong overall value with standout amenities, earning high marks for price, location, trustworthiness, and a top-tier amenities score. It offers private balconies, a resort-style pool, fitness center, clubhouse, and central air conditioning, along with nearby outdoor spaces, natural light, pet services, and convenient access to local points of interest.

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

Zumper Expert Rating

8.5
Very Good
With a solid 8.5 out of 10 overall, Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms has a number of attractive features—namely its Amenities— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • More space
  • Middle school nearby
  • Dishwasher

Great for

  • Pet owners
  • Wellness

Floor plans

LS 1x11 bed1 bath672 sqft$825 /mo1 unit availableWelcome to Lantern Square Apartments, your new home in the heart of Waterloo, IA. This prime location offers a blend of comfort and convenience, with a host of top-notch amenities designed to enhance your living experience. Enjoy the luxury of central air conditioning, newer vinyl windows, and the convenience of off-street parking and a garage. Stay active and fit in our fitness center or take a refreshing dip in our resort-style pool. Our beautifully landscaped courtyard is perfect for leisurely strolls, while our grill area is ideal for outdoor dining and entertaining. The clubhouse is a welcoming space where you can relax and enjoy a cup of coffee from our coffee bar. At Lantern Square Apartments, we've thought of everything to make your life easier and more enjoyable. Come and experience the lifestyle you deserve.
LS 2x1.52 bed1.5 bath956 sqft$995 /mo1 unit availableWelcome to Lantern Square Apartments, your new home in the heart of Waterloo, IA. This prime location offers a blend of comfort and convenience, with a host of top-notch amenities designed to enhance your living experience. Enjoy the luxury of central air conditioning, newer vinyl windows, and the convenience of off-street parking and a garage. Stay active and fit in our fitness center or take a refreshing dip in our resort-style pool. Our beautifully landscaped courtyard is perfect for leisurely strolls, while our grill area is ideal for outdoor dining and entertaining. The clubhouse is a welcoming space where you can relax and enjoy a cup of coffee from our coffee bar. At Lantern Square Apartments, we've thought of everything to make your life easier and more enjoyable. Come and experience the lifestyle you deserve.

Let's explore this property.

Amenities for Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms

Apartment Amenities

Air ConditioningBalcony
BlindsCentral Air
TrashVent Hood

Appliances

Central A/CDishwasher
RangeRefrigerator

Tech

Stove/Refrigerator

Building

Cats OKCoin Laundry Onsite
Dogs OKFitness Center
Onsite LaundrySewer

Grounds

CourtyardGrill Area
Outdoor SpaceResort Style Pool
Stove and RefrigeratorSwimming Pool

Services

Coffee Bar in Clubhouse
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

Dog Policy

Allowed
Limit1

Cat Policy

Allowed
Limit1

Questions about this property’s policies and fees?

Building details

Property details

Units132
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About Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms

HomeApartments in Waterloo Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms

Welcome to Lantern Square Apartments, your new home in the heart of Waterloo. This prime location offers a blend of comfort and convenience, with a lot of extra amenities designed to enhance your living experience. Each units offers private balconies, central air conditioning, newer vinyl windows, and the convenience of on-site parking with private garages available. Enjoy the benefit of a full gym and fitness center, accessible 24/7, along with our pool and cabana during summer months. At Lantern Square Apartments, we've thought of everything to make your life easier and more enjoyable. Come and experience the lifestyle you deserve. Don't forget to stop by the clubhouse and enjoy a cup of coffee from our coffee bar.


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.
8.5
/10
Very Good
With a solid 8.5 out of 10 overall, Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms has a number of attractive features—namely its Amenities— so you can be assured your rent will come with a high standard of living.
How we rated Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms
Price·9A 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.
Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms stands out with a remarkable rating of 9/10 for its cost per bedroom compared to other rentals in the area. Considering the excellent balance between price, convenience, and comfort that it provides, residents enjoy a high-quality living experience.
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.
Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms 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—pets allowed—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.
Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms 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 Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A 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.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.

Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms is great for:

Pet owners

  • Outdoor spaces are available at this property
  • 1 pet hospital in the area

Wellness

  • On-site fitness center or gym
  • Ample windows and natural lighting
  • HVAC systems available onsite
  • 5 farmers markets or health food stores nearby

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 Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms compares to other nearby properties.

Positives

More space
The 1-bedroom is 383 sqft larger than other listings nearby
More space
The 2-bedroom is 114 sqft larger than other listings nearby
More space
The 3-bedroom is 82 sqft larger than other listings nearby
Middle school nearby
There is a middle school 1 mile away
Dishwasher
Dishwasher available in kitchen
Images Available
There are at least 10 photos of this address
Laundry available on site
Washers and dryers are available in-building or in-unit
Outdoor space
Easy access to the outdoors

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Rent trends in Waterloo

1-bedroom apartments here are priced 27% higher than 1-bedrooms in Waterloo.

If you decide to upgrade your space, you can expect 2-bedrooms at Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms to be 17% more than the average for similarly sized apartments in Waterloo.

Median rents as of Jul 18 2026.
Waterloo
A table of studio rental data trends in Waterloo
MonthMedian Rent
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$696
April 2026$836
May 2026$700
June 2026$606
July 2026$849

Affordability calculator

Can I afford to live at 1141 Lantern Sq?

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

$33,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $33,000 annually to afford this 1-bedroom monthly rent price of $825.
For more information on rent affordability, visit our rent calculator.

Schools near Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms

Lou Henry Elementary School

312 rachael st

waterloo, IA, 50701

K-5Public
C+

Bess Streeter Aldrich Elementary School

2526 ashworth dr

cedar falls, IA, 50613

PK, K-6Public
A

Cedar Falls Virtual Campus

1002 w 1st st

cedar falls, IA, 50613

K-12Public
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Internet available near Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms

Neighborhood

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

Getting around Waterloo near 1141 Lantern Sq

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

5/10
More spots are within biking distance and some roads are cyclist-friendly.

Transit

2/10
FYI, there are little to no public transit options within walking distance.

Points of interest for 1141 Lantern Sq, Waterloo

Groceries

7/10
At least one grocery store within a 15-minute walk

Shopping

4/10
Some shops within walking distance

Cafes

3/10
Few or no cafés within walking distance

Restaurants

4/10
Some restaurants within walking distance

Primary schools

9/10
At least one elementary school within a 5-minute walk

High schools

9/10
At least one high school within a 5-minute walk

Nightlife

1/10
Few or no bars within walking distance

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