379 Erb St. W
WaterlooONN2L 1W7
Cheap Apartments for Rent in Waterloo, ON from C$500 (25 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterloo.
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Rent Specials
from C$6702 to 6 Bedroom Apartments Available Now
University Place - 50 University Ave E
50 University Ave EWaterloo, ON N2J 2V9
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from C$7303 to 6 Bedroom Apartments Available Now
King Street Towers
333-339 King St NWaterloo, ON N2J 0C5
261 Lester St
WaterlooONN2L 3W6
253 Lester St
WaterlooONN2L 3W6
251 Lester St
WaterlooONN2L 3W6
75 Columbia St W
WaterlooONN2L 3K7
392 Albert St
WaterlooONN2L 3V1
222 Albert St
WaterlooONN2L 3T6
110 University Av W
WaterlooONN2L 3E2
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Showing Results 1-25, Page 1 of 1
Waterloo, ON Local Guide
How much does it cost to rent an apartment in Waterloo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Waterloo Studio Apartments | C$1,313 | C$795 | C$1,945 |
| Cheap Waterloo 1 Bedroom Apartments | C$1,963 | C$970 | C$2,795 |
| Cheap Waterloo 2 Bedroom Apartments | C$2,392 | C$670 | C$4,505 |
| Cheap Waterloo 3 Bedroom Apartments | C$2,872 | C$670 | C$3,990 |
| Cheap Waterloo 4 Bedroom Apartments | C$2,674 | C$670 | C$5,500 |
| Waterloo 5 Bedroom Apartments | C$3,231 | C$575 | C$6,505 |
Browse Top Apartments in Waterloo
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Waterloo, ON Local Guide
- Waterloo Neighborhoods
- Nearby Cities
Cheapest Neighborhoods for Apartments in Waterloo, ON
Pricing Updated: 03/26/2025Current 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:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Waterloo North East | C$2,599 | C$670 | 2517 |
| Waterloo Uptown | C$2,599 | C$670 | 1140 |
| Waterloo North West | C$3,990 | C$730 | 1522 |
| Waterloo University | C$3,990 | C$730 | 1518 |
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. King Street Towers in the Waterloo North East neighborhood has the second lowest priced unit, which is a 6 Beds apartment currently listed from C$730. Here is today’s list of the most affordable Waterloo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| University Place - 50 University Ave E | 6 Beds, 2 baths | 6BR,2BA | C$670 |
| King Street Towers | 6 Bedroom/ 5 Bath Tower 1 | 6BR,5BA | C$730 |
| 261 Lester St | 0 Beds, 2 Baths | Studio,2BA | C$795 |
| 253 Lester St | 0 Beds, 2 Baths | Studio,2BA | C$795 |
| 251 Lester St | 1 Beds, 2 Baths | 1BR,2BA | C$895 |
Best Value Apartments for Rent in Waterloo, ON
As of March 26, 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Sunnydale | 4 Bedroom Townhouse | 4BR,2BA | C$2.04 |
| William Apartments | 2 Beds, 1 Baths | 2BR,1BA | C$1.99 |
| The Carrick | 2 Bedroom + 2 Bath | 2BR,2BA | C$2.15 |
| 45 Caroline St N | Two Bedroom Apartment | 2BR,1BA | C$1.91 |
| Westheights Place | 2 Bedroom Premium | 2BR,1BA | C$1.92 |
| University Place - 50 University Ave E | 2 Beds, 1 bath | 2BR,1BA | C$0.69 |
| 250 Frederick St | One Bedroom | 1BR,1BA | C$1.89 |
| 55 Caroline St | Two Bedroom Apartment | 2BR,1BA | C$2.24 |
| Queen Margaret I | 1 Bedroom | 1BR,1BA | C$2.21 |
| Davenport Apartments | 1 Bedroom | 1BR,1BA | C$2.27 |
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Frequently Asked Questions about Cheap Waterloo Apartments
What is a cheap apartment in Waterloo?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Waterloo is under C$1,560.
What is the price of a cheap apartment in Waterloo?
The cheapest apartment in Waterloo is 251 Lester St which is listed at C$895, while the average apartment in Waterloo costs C$3,294.
What types of apartments are the cheapest in Waterloo?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 491 regular apartments in Waterloo that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Waterloo?
Cheap apartments in Waterloo have an average cost of C$2,343 which is C$951 cheaper than the average rent for all rentals in Waterloo.
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.
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.
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.
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.
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.