How much is the average rent in Waterloo, IA for 1-bedroom and 2-bedroom apartments?

Waterloo's 2025 rental market shows one-bedroom apartments averaging around $670 per month, while two-bedroom units average around $860 monthly. These figures represent increases of 1.9% and 2.1% respectively from the previous year.

When is the best time to look for an apartment in Waterloo, IA?

April offers the best timing for apartment hunting in Waterloo, with the lowest seasonal rents and higher inventory availability creating less competition. July sees the highest rent prices, approximately 7% higher than April, while March and April are the most competitive months despite better pricing.

What are the best neighborhoods to rent an apartment in Waterloo, IA?

Church Row Historic and Downtown Waterloo lead Waterloo's social scene with strong transit connectivity and high walk scores for daily errands. Unity generates the highest consumer interest at 1.6 times the market average, while Franklin Gateway and Park Haven offer similar walkability and community-focused amenities.

What areas of Waterloo, IA are best for budget-conscious renters?

Church Row Historic offers the most budget-friendly option with median rent around $650, representing 20% of Waterloo's rental market. Common Grounds provides another option with median rent around $860, still below the citywide average of around $870.

Are there pet-friendly apartments in Waterloo, IA?

Waterloo offers strong pet-friendly options with 41% of listings welcoming pets. Common Grounds, Riverfront, Unity, and Gates Park stand out as particularly pet-welcoming neighborhoods, featuring dedicated pet waste stations, spacious outdoor areas, and no breed restrictions with regular community pet events.

Are utilities usually included in rent in Waterloo, IA?

Utilities are rarely included in Waterloo rental properties, appearing in less than 1% of all listings. Studios have the highest rate at approximately 0.3% of units, while other bedroom types range from 0.09% to 0.15% of available apartments.

Cheap Apartments for Rent in Waterloo, IA

77 rentals

1d ago

7.7

Very good

1815 Lafayette St

1815 Lafayette St, Waterloo, IA 50703

Affordable

1 bed

1 bath

$400

Apartment for rent

Elevate Apartments at Hawkeye - Photo 1 of 1

Student housing

3D tour

5d+ ago

9.9

Excellent

Verified

Elevate Apartments at Hawkeye

6025 Donegal Cir, Waterloo, IA 50701

Affordable | In-unit laundry | Dishwasher

4 beds

2 baths

$450

Apartment for rent

Top amenities

In-Unit Laundry

Microwave

On-Site Management

Call

Income restricted

2d ago

8.8

Very good

314 Randolph Street

314 Randolph St, Waterloo, IA 50701

Affordable | On-site laundry

1–3 beds

1–2 baths

$600–$900

Apartment for rent

Top amenities

On-Site Laundry

2d ago

Cheap apartment for rent in Waterloo

2BR/1.0BA

302 Clay St, Waterloo, IA 50703

Affordable | Assigned parking | Outdoor space

2 beds

1 bath

$600

Apartment for rent

5d+ ago

Cheap apartment for rent in Waterloo

2BR/1.0BA

225 Miriam Dr #A, Waterloo, IA 50702

Affordable

2 beds

1 bath

$625

Apartment for rent

5d+ ago

Cheap apartment for rent in Waterloo

2BR/1.0BA

303 Franklin St #2, Waterloo, IA 50703

Affordable | Assigned parking

2 beds

1 bath

$625

Apartment for rent

Nearby rental good for eco-living

$625

225 Miriam Dr #A

Nearby rental good for pet owners

$600–$900

314 Randolph St

5d+ ago

Cheap apartment for rent in Waterloo

2BR/1.0BA

303 Franklin St #3, Waterloo, IA 50703

Affordable

2 beds

1 bath

$650

Apartment for rent

5d+ ago

Cheap Church Row Historic apartment for rent in Waterloo

206 Allen Street - 2 206 1/2 Allen St

206 Allen Street, Waterloo, IA 50701

Affordable

2 beds

1 bath

$650

Apartment for rent

Available Oct 1

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5d+ ago

Cheap apartment for rent in Waterloo

2BR/1.0BA

1515 1/2 Franklin St, Waterloo, IA 50703

Affordable | Outdoor space

2 beds

1 bath

$675

Apartment for rent

5d+ ago

Cheap apartment for rent in Waterloo

269 Madison Street - 1

269 Madison St #1, Waterloo, IA 50703

Affordable

2 beds

1 bath

$750

$675

Price drop

Apartment for rent

Available Apr 14

Find sweet deals in Waterloo

These rentals are 10%-30% cheaper than the local average price for similar rentals.

$650

303 Franklin St #3

$650

206 Allen Street

$675

1515 1/2 Franklin St

$675

269 Madison St #1

5d+ ago

Cheap apartment for rent in Waterloo

235 Madison Street - 1

235 Madison St #1, Waterloo, IA 50703

Affordable

2 beds

1 bath

$725

$675

Price drop

Apartment for rent

Available Apr 1

5d+ ago

Cheap Church Row Historic house for rent in Waterloo

418 Sunnyside Ave, Waterloo, IA 50701

Affordable | Hardwood floor

3 beds

1 bath

$675

House for rent

5d+ ago

Very good

910 Mulberry St

910 Mulberry St, Waterloo, IA 50703

Affordable

2 beds

1 bath

$685

Apartment for rent

1d ago

8.8

Very good

820 W 2nd St

820 W 2nd St, Waterloo, IA 50701

Affordable | On-site laundry

2 beds

1 bath

$695

Apartment for rent

Top amenities

On-Site Laundry

3d ago

8.6

Very good

313 Denver St

313 Denver St, Waterloo, IA 50701

Affordable | Hardwood floor | Outdoor space

2 beds

1 bath

$695

Apartment for rent

5d+ ago

8.3

Very good

221-231 Miriam

221 Miriam Dr, Waterloo, IA 50702

Affordable

2 beds

1 bath

$700

Apartment for rent

5d+ ago

Cheap Church Row Historic apartment for rent in Waterloo

122 Leland Ave - 3

122 Leland Ave #3, Waterloo, IA 50701

Affordable

3 beds

1 bath

$700

Apartment for rent

Available Jun 12

5d+ ago

Cheap Church Row Historic apartment for rent in Waterloo

1406 W. 3rd St - 1/2

1406 1/2 W 3rd St #1-2, Waterloo, IA 50701

Affordable

2 beds

1 bath

$700

Apartment for rent

Available May 27

5d+ ago

Cheap apartment for rent in Waterloo

701 Locust / 1027 W 5th - 701 Locust

701 Locust St, Waterloo, IA 50702

Affordable

2 beds

1 bath

$700

Apartment for rent

Available May 22

5d+ ago

8.6

Very good

237 Miriam Dr

237 Miriam Dr, Waterloo, IA 50702

Affordable | Carpet | Outdoor space

2 beds

1 bath

$725

Apartment for rent

5d+ ago

Cheap Church Row Historic apartment for rent in Waterloo

128/130 Leland/127 Virden - 130 Leland Ave

130 Leland Ave, Waterloo, IA 50701

Affordable

2 beds

1.5 baths

$725

Apartment for rent

Available Apr 17

3d ago

Cheap apartment for rent in Waterloo

227 Madison Street - 1

227 Madison St #1, Waterloo, IA 50703

Affordable

2 beds

1 bath

$749

Apartment for rent

Available Jun 4

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

439 Gladys St, Waterloo, IA 50702

Affordable

2 beds

1 bath

$750

Apartment for rent

1d ago

8.3

Very good

Melick1157

1157 Ravenwood Rd, Waterloo, IA 50702

Affordable | Dishwasher

2 beds

1 bath

$795–$875

Apartment for rent

2d ago

8.3

Very good

Joan Drive

3609 Joan Dr, Waterloo, IA 50702

Affordable

2 beds

1 bath

$795

Apartment for rent

2d ago

8.3

Very good

1653 Carriage Hill

1653 Carriage Hill Dr, Waterloo, IA 50701

Affordable

2 beds

1 bath

$795

Apartment for rent

5d+ ago

Cheap Cityview house for rent in Waterloo

2001 City View St, Waterloo, IA 50707

Affordable

2 beds

1 bath

$795

House for rent

1d ago

8.5

Very good

Quail Valley

3730 Quail Pl, Waterloo, IA 50701

Affordable | On-site laundry | Garage parking

2 beds

1 bath

$800

Apartment for rent

Top amenities

On-Site Laundry

2d ago

Cheap Church Row Historic townhouse for rent in Waterloo

719 W 5th St - *

719 W 5th St #719, Waterloo, IA 50702

Affordable | On-site laundry | Central heat

2 beds

1 bath

$850

$800

Price drop

House for rent

Available Jun 1

Top amenities

On-Site Laundry

221 Brookeridge Apartments - Photo 1 of 1

4d ago

8.5

Very good

221 Brookeridge Apartments

221 Brookeridge Dr, Waterloo, IA 50702

Affordable

2 beds

1 bath

$800

Apartment for rent

5d+ ago

Cheap Riverfront house for rent in Waterloo

657 Dawson St, Waterloo, IA 50703

Affordable | Hardwood floor

2 beds

1 bath

$810

House for rent

3549-3749 Cobblestone Circle Apartments - Photo 1 of 1

3d ago

8.5

Very good

3549-3749 Cobblestone Circle Apartments

3549 Cobblestone Cir, Waterloo, IA 50701

Affordable | In-unit laundry | Air conditioning

2 beds

1 bath

$825–$900

Apartment for rent

Top amenities

In-Unit Laundry

3d ago

8.4

Very good

1319 Ravenwood Rd

1319 Ravenwood Rd, Waterloo, IA 50702

Affordable

2 beds

1 bath

$825

Price drop

Apartment for rent

5d+ ago

Cheap house for rent in Waterloo

151 French Street - 1

151 French St #1, Waterloo, IA 50703

Affordable

2 beds

1 bath

$825

House for rent

Available May 22

5d+ ago

Cheap apartment for rent in Waterloo

216 Courtland Street #1 - 1

216 Courtland St #1, Waterloo, IA 50703

Affordable

4 beds

1 bath

$875

$825

Price drop

Apartment for rent

Available Apr 14

5d+ ago

Cheap house for rent in Waterloo

425 Glenwood Street - 1

425 Glenwood St #1, Waterloo, IA 50703

Affordable

2 beds

1 bath

$825

House for rent

Available May 12

5d+ ago

Cheap Common Grounds house for rent in Waterloo

307 Riehl Street - 1

307 Riehl St #1, Waterloo, IA 50703

Affordable

2 beds

1 bath

$825

House for rent

Available May 8

5d+ ago

Cheap Common Grounds house for rent in Waterloo

1233 Logan Ave, Waterloo, IA 50703

Affordable

2 beds

1 bath

$825

House for rent

5d+ ago

Cheap Church Row Historic house for rent in Waterloo

416 Sunnyside Ave, Waterloo, IA 50701

Affordable | In-unit laundry | Outdoor space

3 beds

1 bath

$825

House for rent

Top amenities

In-Unit Laundry

5d+ ago

Cheap house for rent in Waterloo

230 Polk St, Waterloo, IA 50703

Affordable | On-site laundry

3 beds

1 bath

$850

House for rent

Top amenities

On-Site Laundry

5d+ ago

Cheap Church Row Historic house for rent in Waterloo

226 Randolph Street - 1

226 Randolph St #1, Waterloo, IA 50701

Affordable | Hardwood floor | Air conditioning

4 beds

2 baths

$895

House for rent

Available Jun 1

1d ago

8.6

Very good

Cedar Crest Apartments

405 W Donald St, Waterloo, IA 50703

Affordable

2–3 beds

1 bath

$900–$1,000

Apartment for rent

5d+ ago

Cheap Roosevelt house for rent in Waterloo

306 Charles St, Waterloo, IA 50703

Affordable | Outdoor space

3 beds

1 bath

$925

House for rent

5d+ ago

Cheap Church Row Historic house for rent in Waterloo

414 Randall Street - *

414 Randall St, Waterloo, IA 50701

Affordable | On-site laundry | Central heat

3 beds

1 bath

$950

House for rent

Available Jun 1

Top amenities

On-Site Laundry

5d+ ago

Cheap house for rent in Waterloo

1107 Mulberry St, Waterloo, IA 50703

Affordable | In-unit laundry | Storage

3 beds

1 bath

$950

House for rent

Top amenities

In-Unit Laundry

5d+ ago

Cheap Church Row Historic house for rent in Waterloo

508 Baltimore St - 1

508 Baltimore St #1, Waterloo, IA 50702

Affordable | Hardwood floor | Air conditioning

3 beds

1 bath

$950

House for rent

Available May 22

Top amenities

Microwave

Roof Deck

2d ago

Cheap Common Grounds house for rent in Waterloo

232 Center Street - 1

232 Center St #1, Waterloo, IA 50703

Affordable

3 beds

1 bath

$995

House for rent

Available Jun 5

5d+ ago

Cheap house for rent in Waterloo

720 W 9th St - *

720 W 9th St, Waterloo, IA 50702

Affordable | Storage | Hardwood floor

3 beds

1 bath

$1,000

House for rent

Available May 22

7h ago

Very good

Prairie View Acres MHP

5900 Osage Road, Waterloo, IA 50703

Affordable | Dishwasher | Hardwood floor

3 beds

2 baths

$1,049

Apartment for rent

Available May 29

Top amenities

Air Conditioning

5d+ ago

Cheap house for rent in Waterloo

525 Courtland Street - 1

525 Courtland St #1, Waterloo, IA 50703

Affordable

3 beds

1 bath

$1,100

House for rent

Available Jun 5

Showing 1 - 50 of 66 results

Home > Apartments in Waterloo > Waterloo Cheap Apartments For Rent

Updated: June 7, 2026

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