Cheap Apartments for Rent in Waterloo, ON from C$500 (30 Rentals)

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Search the lowest-cost Apartments available for rent right now in Waterloo.

property at 261 Lester St

261 Lester St

WaterlooONN2L 3W6
property at 253 Lester St

253 Lester St

WaterlooONN2L 3W6
property at 251 Lester St

251 Lester St

WaterlooONN2L 3W6
property at 392 Albert St

392 Albert St

WaterlooONN2L 3V1
property at 274 Erb St W

274 Erb St W

WaterlooONN2L 1W2
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Park Manor
1 Bedroom Apartments

Park Manor

521 Park StKitchener, ON N2G 1N8
  • Utilities Included
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Waterloo, ON Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, ON

Pricing Updated: 04/06/2025

Current apartment rentals in the Waterloo, ON area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Waterloo Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Waterloo UptownC$3,099C$70099
Waterloo North WestC$3,250C$70094
Waterloo UniversityC$3,295C$70056
Waterloo North EastC$3,347C$70070

Cheapest Available Waterloo Apartments for Rent

 

The cheapest available apartment rental in Waterloo, ON is a 6 Beds unit found at University Place - 50 University Ave E in the Kitchener North West neighborhood priced from C$670. 261 Lester St in the Waterloo North East neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from C$795. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
University Place - 50 University Ave E6 Beds, 2 baths6BR,2BAC$670
261 Lester St0 Beds, 2 BathsStudio,2BAC$795
253 Lester St0 Beds, 2 BathsStudio,2BAC$795
Spring Village1 Bedroom Shared Accommodation1BR,1BAC$988
214 York QueenOne Bedroom1BR,1BAC$1,400
NUVOStudioStudio,1BAC$1,425
Mooregate Apartments0 Bedroom(s) and 1 Bathroom(s)Studio,1BAC$1,435
Davenport Apartments1 Bedroom1BR,1BAC$1,500
Queen Margaret II1 Bedroom1BR,1BAC$1,549
265 Lawrence Avenue Townhomes1 Beds, 1 Baths1BR,1BAC$1,550

Best Value Apartments for Rent in Waterloo, ON

As of April 06, 2025 the best value apartment in the Waterloo area is the C$2.04 price per square foot 4 Bedroom Townhouse Model at Sunnydale in the in the Waterloo North West neighborhood starting from C$2,850. The second greatest value Waterloo apartment is the 2 Beds, 1 Baths Model at William Apartments starting at C$2,505 with a C$1.99 price per square foot in the Waterloo Uptown neighborhood. Here is today’s list of the best values for Waterloo apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sunnydale4 Bedroom Townhouse4BR,2BAC$2.04
William Apartments2 Beds, 1 Baths2BR,1BAC$1.99
The Carrick2 Bedroom + 2 Bath2BR,2BAC$2.15
76 Brybeck Cres2 Bed + Den2BR,1BAC$1.90
Westheights Place2 Bedroom Premium2BR,1BAC$1.92
239 Albert St1 Bedroom plus Dining1BR,1BAC$2.13
University Place - 50 University Ave E2 Beds, 1 bath2BR,1BAC$0.69
250 Frederick StOne Bedroom1BR,1BAC$1.89
55 Caroline StTwo Bedroom Apartment2BR,1BAC$2.24
Regency1 Bedroom + Den1BR,1BAC$2.25

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Frequently Asked Questions about Cheap Waterloo Apartments

What is the Cheapest Studio apartment in Waterloo?

Currently the most affordable Cheap Studio Apartment in Waterloo is at 261 Lester St listed at C$795.

How much is rent for a Cheap One Bedroom Waterloo Apartment?

The lowest price for a Cheap One Bedroom Waterloo Apartment is C$988 at Spring Village.

What is the lowest price for a Cheap Two Bedroom Waterloo Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Waterloo is starting from C$670 at University Place - 50 University Ave E.

What is the most affordable Waterloo Three Bedroom Apartment?

The best deal on a cheap Waterloo Three Bedroom Apartment rental is at University Place - 50 University Ave E and starts from C$670.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.