Cheap Homes for Rent in Waterloo, ON from C$700 (36 Rentals)

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Waterloo, ON Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, ON

Pricing Updated: 04/17/2025

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 North EastC$2,374C$670165
Waterloo UptownC$2,405C$575139
Waterloo North WestC$2,661C$575153
Waterloo UniversityC$2,674C$575150

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
Linden Village5 Bedroom Shared Occupancy5BR,2BAC$973
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
265 Lawrence Avenue Townhomes1 Beds, 1 Baths1BR,1BAC$1,550

Best Value Apartments for Rent in Waterloo, ON

As of April 17, 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
520 Parkside DrThree Bedroom Apartment3BR,1.5BAC$1.94
76 Brybeck Cres2 Bed + Den2BR,1BAC$1.80
239 Albert St1 Bedroom plus Dining1BR,1BAC$2.13
University Place - 50 University Ave E2 Beds, 1 bath2BR,1BAC$0.69
Queen Margaret II2 Bedroom2BR,1BAC$2.13
250 Frederick StOne Bedroom1BR,1BAC$1.89
Beacon TowerOne Bedroom1BR,1BAC$2.07

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Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 635 Apartments for Rent in Waterloo, ON with pricing that ranges from C$575 to C$6,125. There are also 260 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from C$700 to C$4,900.

What is the current price range for Rental Homes in Waterloo?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Waterloo ranges from C$700 to C$4,900 with an average monthly rent of C$2,667.

How much are larger Three and Four Bedroom Rentals in Waterloo?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Waterloo range from C$670 to C$3,990, while Three Bedroom Homes, Condos, and Townhomes for rent range from C$1,895 to C$4,500. Four Bedroom Single-Family rentals are also available starting from C$2,699 and Four Bedroom Apartments start at 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.

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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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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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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.

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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.