Zumper
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Updated 1 Day Ago

Highlights

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

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 earns a strong overall impression with an 8.8 rating, standout marks for price, amenities, and location, plus a trustworthy listing presentation. It also offers private balconies, a fitness center, a resort-style pool, central air conditioning, and off-street parking, with extra appeal for those who value pet-friendly surroundings and fitness/wellness features.

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

8.8
Very Good
With a solid 8.8 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 Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • Less expensive
  • More space
  • Balcony

Great for

  • Wellness

Floor plans

LS 2x12 bed1 bath956 sqft$995 /mo2 units 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 3x1.53 bed1.5 bath1,282 sqft$1,100 /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

CourtyardGarage Parking
Grill AreaOutdoor Space
Resort Style PoolSwimming 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

Parking Policy

Garage Parking

Dog Policy

Allowed
Limit1

Cat Policy

Allowed
Limit1

Questions about this property’s policies and fees?

Building details

Property details

Units132

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.
8.8
/10
Very Good
With a solid 8.8 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 Price— 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·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.
Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms 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.
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:

Wellness

  • On-site fitness center or gym
  • Ample windows and natural lighting
  • HVAC systems available onsite
  • This property has patios or balconies for fresh air

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

Less expensive
The 3-bedrooms are cheaper than other similar listings nearby
More space
The 2-bedroom is 127 sqft larger than other listings nearby
Balcony
Easy access to the outdoors
Dishwasher
Dishwasher available in kitchen
Eco-friendly trash disposal
This property has recycling pickup
Fitness center
The gym is just a few steps away
Images Available
There are at least 10 photos of this property
Laundry available on site
Washers and dryers are available in-building
Pool
Enhanced community features

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Rent trends 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 21% more than the average for similarly sized apartments in Waterloo.

3-bedroom apartments at Lantern Square Apartments Spacious 1, 2 & 3 Bedrooms cost about 12% more than the average rent price for 3-bedroom apartments in Waterloo.

Median rents as of Oct 17 2026.
Waterloo
A table of studio rental data trends in Waterloo
MonthMedian Rent
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$825
August 2026$736
September 2026$798
October 2026$824

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

$39,800/yr

With your selected rent-to-income ratio, you'd ideally want to make $39,800 annually to afford this 2-bedrooms monthly rent price of $995.
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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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

Explore the area around 1141 Lantern Sq

Hy-Vee
2834 Ansborough Ave
Fareway
40 W San Marnan Dr
Mooroo
3015 Kimball Ave
Sam's Club
210 E Tower Park Dr
Guddi Mart
506 Byron Ave

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