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Two Bedroom Apartments under $1,000 for Rent in Waterloo, IA

58 Rentals
.
  6. Building Photo - Le Chateau
    2 BEDS
    $900

    Le Chateau

    733-747 Russell Rd, Waterloo, IA 50701
  8. Rent Special
    Rent Special
    2 BEDS
    $795

    124 Earl St

    124-136 Earl St, Evansdale, IA 50707
Showing 42 of 47 results, Page 1 of 2

Living & Renting in Waterloo

Waterloo at a Glance

Average Rent

$783
(All bedrooms and property types)
Learn more about
Average Rent in Waterloo
2

School Rating

out of 10 Rating
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Schools in Waterloo
24

Some Transit

out of 100 TransitScore® Rating
Learn more about
Transportation in Waterloo
53

Somewhat Bikeable

out of 100 BikeScore® Rating
Learn more about
Transportation in Waterloo

Waterloo, IA Apartments for Rent

Waterloo, Iowa, situated along the Cedar River, combines industrial heritage with modern living opportunities for apartment seekers. Founded in 1845 as Prairie Rapids Crossing, the city has evolved from its manufacturing roots while maintaining strong ties to its industrial past, notably through John Deere's continued presence.

Apartment living in Waterloo offers value, with rental costs substantially below national averages—one-bedroom apartments typically rent for around $780 monthly. Spanning more than 61 square miles, the city features established neighborhoods across its east and west sides. The location proves convenient for commuters, with easy access to Cedar Falls via Interstate 380 and U.S. Highways 20, 63, and 218.

The city's cultural scene includes the Waterloo Center for the Arts, home to the largest public collection of Haitian art in North America. The historic Grout Museum District and Lost Island Waterpark add to the recreational opportunities, making Waterloo an appealing choice for those seeking a mix of culture, history, and entertainment.

Why Waterloo?

  • Waterloo is home to Hawkeye Community College and it is just minutes from the University of Northern Iowa in Cedar Falls.
  • Hockey! Waterloo is home of the USHL Black Hawks, who play at the Young Arena.
  • There are several museums and historic sites in Waterloo, including the 1862 Victorian Home and Carriage House Museum.
  • Waterloo features family-friendly attractions such as Phelps Youth Pavilion, a hands-on children’s museum.
  • Gorgeous parks in Waterloo include the vast Black Hawk Park which offers camping, fishing, hiking, and boat ramps.
  • The Cedar Valley Paddlers Trail is a 10-mile water trail offering fishing, boating, and wildlife viewing.

Renting in Waterloo

Average Rental Rates and Apartment Sizes

Top Budget-Friendly Neighborhoods in Waterloo

(For 1 bedroom apartments)

Getting Around Waterloo

Transportation

47

Car-Dependent

out of 100 WalkScore® Rating
You might be able to get out and walk when living in this area. Some errands can be accomplished on foot, but for others you need a car.
53

Bikeable

out of 100 BikeScore® Rating
You might be able to find places to ride your bike in this area, but you'll most likely want your car for most errands.
24

Minimal Transit

out of 100 TransitScore® Rating
You'll likely want a car when living in this area since it has few transit options.
Scores provided by Walk Scoreⓘ

Education

Public University
Public University
3
West High School
out of 10 Rating
Public | Grades 9- 12 | 1,652 Students
2
East High School
out of 10 Rating
Public | Grades 9- 12 | 1,022 Students
5
Hoover Middle School
out of 10 Rating
Public | Grades 6- 8 | 883 Students
2
George Washington Carver Academy
out of 10 Rating
Public | Grades 6- 8 | 442 Students
1
Central Middle School
out of 10 Rating
Public | Grades 6- 8 | 471 Students
4
Kingsley Elementary School
out of 10 Rating
Public | Grades K- 5 | 343 Students
School data provided by Great Schoolsⓘ
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