38 Marshall St
WaterlooONN2J 2T4
Cheap Apartments for Rent in Waterloo, ON from $400 (70 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterloo.
511 Albert St
WaterlooONN2L 5A7
379-379 Erb St. W
WaterlooONN2L 1W7
251 Lester St
WaterlooONN2L 3W6
392 Albert St
WaterlooONN2L 3V1
325 Spruce St
WaterlooONN2L 3M6
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Rent Specials
$750 - $5,7404 to 6 Bedroom Apartments Available May 3
King Street Towers
333-339 King St NWaterloo, ON N2J 0C5
271-271 Lester St
WaterlooONN2L 3W6
261 Lester St
WaterlooONN2L 3W6
261-261 Lester St
WaterlooONN2L 3W6
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
253-253 Lester St
WaterlooONN2L 3W6
251-251 Lester St
WaterlooONN2L 3W6
50 University Ave E
WaterlooONN2J 2V8
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$795 - $8203 to 6 Bedroom Apartments Available Now
University Place - 50 University Ave E
50 University Ave EWaterloo, ON N2J 2V9
253 Lester St
WaterlooONN2L 3W6
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$863
Total Monthly Price
5 Bedroom Apartment Available Sep 1Total Monthly Price
Base Rent
$863
Total Monthly Price
$863
86 University Av W
86 University Av WWaterloo, ON N2L 3C8
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$1,0005 Bedroom Apartment Available Sep 1
295 Lester St
295 Lester StWaterloo, ON N2L 0C1
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Rent Specials
$1,060 - $5,6505 Bedroom Apartments Contact Us For Availability
MyRez on Lester
181 Lester StWaterloo, ON N2L 3W3
378 Albert St
WaterlooONN2L 3V1
250 Keats Way
WaterlooONN2L 6J5
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
407 Keats Way
WaterlooONN2L 5S7
43 Dupont St E
WaterlooONN2J 2G8
43 Dupont St E
WaterlooONN2J 2G8
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$675 - $725Studio Apartments
308 Hawthorn St
308 Hawthorn StWaterloo, ON N2L 3N4
12 Bridgeport Rd E
WaterlooONN2J 2J3
12 Bridgeport Rd E
WaterlooONN2J 2J3
365 Dale Crescent
WaterlooONN2J 3Y6
365 Dale Crescent
WaterlooONN2J 3Y6
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$750Studio to 1 Bedroom Apartments
261 Lester St
261 Lester StWaterloo, ON N2L 3W6
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$785 - $1,0011 to 2 Bedroom Apartments
Spring Village
208 Sunview StWaterloo, ON N2L 3V6
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
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$785 - $9875 Bedroom Apartments
Linden Village Inc.
203 Lester StWaterloo, ON N2L 0B5
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$795Studio Apartments
253 Lester St
253 Lester StWaterloo, ON N2L 3W6
271 Lester St
WaterlooONN2L 3W6
275 Larch St
WaterlooONN2L 3R2
275 Larch St
WaterlooONN2L 3R2
16 Marshall St
WaterlooONN2J 2T2
16 Marshall St
WaterlooONN2J 2T2
16 Marshall St
WaterlooONN2J 2T2
16 Marshall St
WaterlooONN2J 2T2
158-1158 King St N
WaterlooONN2J 0E5
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
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$8951 to 2 Bedroom Apartments
251 Lester St
251 Lester StWaterloo, ON N2L 3W6
392 Albert St
WaterlooONN2L 3V1
392 Albert St
WaterlooONN2L 3V1
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$929 - $1,1405 Bedroom Apartments
185 King St N
185 King St NWaterloo, ON N2J 0E1
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$9601 Bedroom Apartments
159 University Ave E
159 University Ave EWaterloo, ON N2J 3S6
338 Albert St
WaterlooONN2L 0G8
338 Albert St
WaterlooONN2L 0G8
288 Albert St
WaterlooONN2L 0G9
288 Albert St
WaterlooONN2L 0G9
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$1,150 - $2,1001 to 2 Bedroom Apartments
311 Batavia Pl
311 Batavia PlWaterloo, ON N2L 3W1
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
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 | $1,413 | $1,300 | $1,560 |
| Cheap Waterloo 1 Bedroom Apartments | $1,892 | $400 | $2,650 |
| Cheap Waterloo 2 Bedroom Apartments | $2,138 | $1,240 | $4,400 |
| Cheap Waterloo 3 Bedroom Apartments | $2,133 | $795 | $2,975 |
| Cheap Waterloo 4 Bedroom Apartments | $1,466 | $732 | $3,620 |
| Waterloo 5 Bedroom Apartments | $2,312 | $717 | $5,650 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Waterloo, ON Local Guide
- Waterloo Neighborhoods
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Cheapest Neighborhoods for Apartments in Waterloo, ON
Pricing Updated: 04/21/2026Current 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 Uptown | $2,163 | $400 | 85 |
| Waterloo North East | $2,315 | $400 | 93 |
| Waterloo North West | $3,400 | $500 | 69 |
| Waterloo University | $3,400 | $575 | 82 |
Cheapest Available Waterloo Apartments for Rent
The cheapest available apartment rental in Waterloo, ON is a 1 Bed unit found at Spring Village in the Waterloo North East neighborhood priced from $785. University Place - 50 University Ave E in the Waterloo North East neighborhood has the second lowest priced unit, which is a 6 Beds apartment currently listed from $795. Here is today’s list of the most affordable Waterloo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Spring Village | 1 Bedroom Shared Accommodation | 1BR,1BA | $785 |
| University Place - 50 University Ave E | 6 Beds, 2 baths | 6BR,2BA | $795 |
| 185 King St N | 5 Beds, 5 baths | 5BR,5BA | $929 |
| Kings Tower | Studio | Studio,1BA | $1,399 |
| Metropolitan Towers | 1 Bedroom | 1BR,1BA | $1,399 |
| NUVO - 1442 Highland Road West | Studio | Studio,1BA | $1,425 |
| Avenue Apartments | 0 Bedroom, 1 Bathroom | Studio,1BA | $1,425 |
| Westwood Garden Apartments | Studio | Studio,1BA | $1,449 |
| 214 York Queen | 1 Bed | 1BR,1BA | $1,450 |
| Sage X | Studio | 1BR,1BA | $1,450 |
Best Value Apartments for Rent in Waterloo, ON
As of April 21, 2026 the best value apartment in the Waterloo area is the $1.81 price per square foot 3 Bedroom Model at Ivy Three in the in the Waterloo North East neighborhood starting from $3,400. The second greatest value Waterloo apartment is the 3 Beds, 2 baths Model at Ivy Towns starting at $3,150 with a $1.73 price per square foot in the Waterloo North East 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. |
|---|---|---|---|
| Ivy Three | 3 Bedroom | 3BR,3BA | $1.81 |
| Ivy Towns | 3 Beds, 2 baths | 3BR,2BA | $1.73 |
| NUVO - 1442 Highland Road West | 3 Bed | 3BR,2BA | $1.86 |
| University Place - 50 University Ave E | 3 Beds, 1.5 baths | 3BR,1.5BA | $0.72 |
| Beacon Tower | Two Bedroom | 2BR,1BA | $1.99 |
| 11 Devitt Av S | 2 Bedroom | 2BR,1BA | $1.75 |
| Westheights Place | 2 Bedroom Premium | 2BR,1BA | $1.92 |
| The Estates | Two Bedroom | 2BR,1BA | $2.01 |
| Quiet Place | Two Bedroom | 2BR,1BA | $1.87 |
| 214 York Queen | 1 Bed | 1BR,1BA | $1.87 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
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Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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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 $1,450.
What is the price of a cheap apartment in Waterloo?
The cheapest apartment in Waterloo is Spring Village which is listed at $785, while the average apartment in Waterloo costs $2,819.
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 87 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 $1,407 which is $1,412 cheaper than the average rent for all rentals in Waterloo.
Expert Rental Resources
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.
Articles, How-To's, and Tips
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.