
Cheap Apartments for Rent in the Waterloo University Neighborhood of Waterloo, ON from C$500 (18 Rentals)
Search the lowest-cost Apartments available for rent right now in the Waterloo University area of Waterloo.


303-303 Lester St

104-104 Lester St

King Street Towers

261 Lester St

253 Lester St

251 Lester St

392 Albert St

222 Albert St

110 University Av W
Waterloo University, Waterloo, ON Local Guide
How much does it cost to rent an apartment in Waterloo University?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Waterloo University Studio Apartments | C$1,149 | C$795 | C$1,750 |
Waterloo University 1 Bedroom Apartments | C$2,193 | C$1,050 | C$2,574 |
Waterloo University 2 Bedroom Apartments | C$2,511 | C$1,995 | C$3,719 |
Waterloo University 3 Bedroom Apartments | C$3,460 | C$2,400 | C$3,990 |
Waterloo University 4 Bedroom Apartments | C$2,838 | C$730 | C$5,500 |
Waterloo University 5 Bedroom Apartments | C$2,966 | C$575 | C$6,505 |
Browse Apartments in this Neighborhood
There are currently 18 rentals with your search options within a 2 mile radius of the Waterloo University Neighborhood of Waterloo, ON.
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Cheapest Available Waterloo University Apartments for Rent
 The cheapest available apartment rental in the Waterloo University area of Waterloo, ON is a 6 Beds unit found at King Street Towers priced from C$730. 261 Lester St has the second lowest priced unit, which is a Studio apartment currently listed from C$795. Here are the most affordable Waterloo University apartments for rent in Waterloo, ON:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
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 |
Spring Village | 1 Bedroom Shared Accommodation | 1BR,1BA | C$988 |
Best Value Apartments for Rent in Waterloo University, ON
As of March 30, 2025 the best value apartment in the Waterloo University area is the C$2.77 price per square foot 2 Bedroom plus Den Model at 255 Sunview St in the in the Waterloo North East neighborhood starting from C$3,379. The second greatest value Waterloo University apartment is the 5 Bedroom, 5 Bath Model at Bridgeport House starting at C$1,225 with a C$1.22 price per square foot in the Waterloo North East neighborhood. Here is today’s list of the best values for Waterloo University apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
255 Sunview St | 2 Bedroom plus Den | 2BR,2BA | C$2.77 |
Bridgeport House | 5 Bedroom, 5 Bath | 5BR,5BA | C$1.22 |
The Onyx | 1 Bedroom + Den | 1BR,1BA | C$2.36 |
55 Caroline St | Two Bedroom Apartment | 2BR,1BA | C$2.24 |
365 Albert | 1 Bedroom plus Den | 1BR,1BA | C$2.71 |
The HUB GEOWAVE | 1 Bedroom plus Den | 1BR,1BA | C$2.71 |
45 Caroline St N | One Bedroom Apartment | 1BR,1BA | C$2.50 |
131 University | 1 Bedroom plus Den | 1BR,1BA | C$3.07 |
The Bevel | 1 Bedroom | 1BR,1BA | C$3.09 |
Richmond Square | 1 Bedroom(s) and 1 Bathroom(s) | 1BR,1BA | C$2.94 |
Frequently Asked Questions about Cheap Waterloo University Apartments
What is a cheap apartment in Waterloo University?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Waterloo University is under C$1,900.
What is the price of a cheap apartment in Waterloo University?
The cheapest apartment in Waterloo University is 251 Lester St which is listed at C$895, while the average apartment in Waterloo University costs C$3,990.
What types of apartments are the cheapest in Waterloo University?
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 5 regular apartments in Waterloo University that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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.