Cheap Homes for Rent in Waterloo, ON from C$700 (39 Rentals)

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Waterloo, ON Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, ON

Pricing Updated: 03/25/2025

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$2,975C$700923
Waterloo UniversityC$3,000C$750514
Waterloo North WestC$3,300C$750909
Waterloo North EastC$3,500C$700582

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 ListingModel NameBed/BathPriced From
University Place - 50 University Ave E6 Beds, 2 baths6BR,2BAC$670
King Street Towers6 Bedroom/ 5 Bath Tower 16BR,5BAC$730
261 Lester St0 Beds, 2 BathsStudio,2BAC$795
253 Lester St0 Beds, 2 BathsStudio,2BAC$795
251 Lester St1 Beds, 2 Baths1BR,2BAC$895
Spring Village1 Bedroom Shared Accommodation1BR,1BAC$988
214 York QueenOne Bedroom1BR,1BAC$1,400
NUVOStudioStudio,1BAC$1,425
Davenport Apartments1 Bedroom1BR,1BAC$1,500
Mooregate Apartments0 Bedroom(s) and 1 Bathroom(s)Studio,1BAC$1,560

Best Value Apartments for Rent in Waterloo, ON

As of March 25, 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
45 Caroline St NTwo Bedroom Apartment2BR,1BAC$1.91
Westheights Place2 Bedroom Premium2BR,1BAC$1.92
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
Queen Margaret I1 Bedroom1BR,1BAC$2.21
Davenport Apartments1 Bedroom1BR,1BAC$2.27

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Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 636 Apartments for Rent in Waterloo, ON with pricing that ranges from C$575 to C$6,505. There are also 246 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$2,839.

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$1,799 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.

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.

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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.

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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.