32 Noecker St
WaterlooONN2J 2R4
Cheap Apartments for Rent in Waterloo, ON from $575 (173 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterloo.
36 Columbia St W
WaterlooONN2L 3K5
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$695
Total Monthly Price
Base Rent$695
Total Monthly Price$695
University Place - 50 University Ave E
50 University Ave EWaterloo, ON N2J 2V9
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$750 - $3,6204 to 6 Bedroom Apartments Available Now
King Street Towers
333-339 King St NWaterloo, ON N2J 0C5
261-261 Lester St
WaterlooONN2L 3W6
251-251 Lester St
WaterlooONN2L 3W6
253-253 Lester St
WaterlooONN2L 3W6
261 Lester St
WaterlooONN2L 3W6
50 University Ave E
WaterlooONN2J 2V8
253 Lester St
WaterlooONN2L 3W6
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
392 Albert St
WaterlooONN2L 3V1
251 Lester St
WaterlooONN2L 3W6
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$1,060 - $5,6505 Bedroom Apartments Contact Us For Availability
MyRez on Lester
181 Lester StWaterloo, ON N2L 3W3
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$1,1505 Bedroom Apartments Available Now
Preston House
315 King St NWaterloo, ON N2J 2Z1
275 Larch St
WaterlooONN2L 0J5
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$1,409 - $2,9771 to 2 Bedroom Apartments Available Now
The HUB GEOWAVE
130 Columbia St WWaterloo, ON N2L 3V2
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$1,409 - $2,3401 to 2 Bedroom Apartments Available Now
The HUB - 365 Albert
365 Albert StWaterloo, ON N2L 3V2
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$1,468 - $1,9711 Bedroom Apartments Available Now
THE LINQ
258 Lester StWaterloo, ON N2L 0K3
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Rent Specials
$1,475 - $2,673Studio to 3 Bedroom Apartments Available Now
Avenue Apartments
137 University Ave WWaterloo, ON N2L 3E5
58 Albert St
WaterlooONN2L 3S2
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
380 Erb St. W
WaterlooONN2L 1W6
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Rent Specials
$1,521 - $2,452Studio to 2 Bedroom Apartments Available Now
200 Shakespeare Drive
200 Shakespeare DrWaterloo, ON N2L 6C1
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$1,5791 Bedroom Apartments Available Nov 1
Metropolitan Towers
57 Union St EWaterloo, ON N2J 1B9
595 Silverbirch Rd
WaterlooONN2L 4R4
350 Regina St N
WaterlooONN2J 3B7
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$590 - $7754 to 5 Bedroom Apartments
143 Columbia
143 Columbia St WWaterloo, ON N2L 3L2
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$5991 Bedroom Apartments
Walnut Village Inc.
202 Lester StWaterloo, ON N2L 3W4
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$617 - $8781 to 5 Bedroom Apartments
Spring Village
208 Sunview StWaterloo, ON N2L 3V6
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$675 - $725Studio Apartments
308 Hawthorn St
308 Hawthorn StWaterloo, ON N2L 3N4
392 Albert St, Unit 304
392 Albert St
WaterlooONN2L 3V1
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.
392 Albert St, Unit 304
392 Albert St
WaterlooONN2L 3V1
38 High St
WaterlooONN2L 3X8
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$750Studio to 1 Bedroom Apartments
261 Lester St
261 Lester StWaterloo, ON N2L 3W6
433 Keats Way
WaterlooONN2L 5S7
433 Keats Way
WaterlooONN2L 5S7
38 High St
WaterlooONN2L 3X8
271 Lester St
WaterlooONN2L 3W6
225 Shakespeare Dr
WaterlooONN2L 2T5
225 Shakespeare Dr
WaterlooONN2L 2T5
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$785 - $9875 Bedroom Apartments
Linden Village Inc.
203 Lester StWaterloo, ON N2L 0B5
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.
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$795Studio Apartments
253 Lester St
253 Lester StWaterloo, ON N2L 3W6
16 Marshall St
WaterlooONN2J 2T2
16 Marshall St
WaterlooONN2J 2T2
16 Marshall St
WaterlooONN2J 2T2
16 Marshall St
WaterlooONN2J 2T2
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$8951 to 2 Bedroom Apartments
251 Lester St
251 Lester StWaterloo, ON N2L 3W6
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$9601 Bedroom Apartments
159 University Ave E
159 University Ave EWaterloo, ON N2J 3S6
288 Albert St
WaterlooONN2L 0G9
288 Albert St
WaterlooONN2L 0G9
330 Phillip St, Unit 219
330 Phillip St
WaterlooONN2L 3W9
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.
Showing Results 1-50, Page 1 of 4
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 | $1,410 | $1,200 | $1,545 |
| Cheap Waterloo 1 Bedroom Apartments | $1,751 | $750 | $5,180 |
| Cheap Waterloo 2 Bedroom Apartments | $2,049 | $1,140 | $5,665 |
| Cheap Waterloo 3 Bedroom Apartments | $2,599 | $695 | $6,105 |
| Cheap Waterloo 4 Bedroom Apartments | $1,288 | $645 | $3,620 |
| Waterloo 5 Bedroom Apartments | $1,765 | $575 | $5,650 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Apartments in Waterloo
See all Apartments in WaterlooExplore Waterloo
Waterloo, ON Local Guide
- Waterloo Neighborhoods
- Nearby Cities
Cheapest Neighborhoods for Apartments in Waterloo, ON
Pricing Updated: 09/06/2026Current apartment rentals in the Waterloo, ON area range in price from $575 to $6,105 with an overall median price of $1,767. 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 | $1,711 | $575 | 99 |
| Waterloo University | $1,711 | $645 | 91 |
| Waterloo North West | $1,797 | $645 | 76 |
| Waterloo Uptown | $1,847 | $575 | 104 |
Cheapest Available Waterloo Apartments for Rent
The cheapest available apartment rental in Waterloo, ON is a 4 Beds unit found at 143 Columbia in the Waterloo North East neighborhood priced from $590. Walnut Village Inc. in the Waterloo North East neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $599. Here is today’s list of the most affordable Waterloo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 143 Columbia | LpSt2 | 4BR,2BA | $590 |
| Walnut Village Inc. | 1 Bedroom Shared Accommodation | 1BR,1BA | $599 |
| University Place - 50 University Ave E | 6 Beds, 2 baths | 6BR,2BA | $695 |
| King Street Towers | 6 Bedroom/ 5 Bath Tower 2 | 6BR,5BA | $750 |
| Fergus House | 4 Bedroom 4 Bathroom | 4BR,4BA | $799 |
| Hespeler House | 4 Bedroom 4 Bathroom | 4BR,4BA | $799 |
| Preston House | 5 Bedroom, 5 Bath | 5BR,5BA | $1,150 |
| 214 York Queen | Studio | Studio,1BA | $1,200 |
| 255 Sunview St | 1 Bedroom | 1BR,1BA | $1,326 |
| Mooregate Apartments | Studio, 1 Bathroom | Studio,1BA | $1,404 |
Best Value Apartments for Rent in Waterloo, ON
As of September 06, 2026 the best value apartment in the Waterloo area is the $0.80 price per square foot 5 Bedroom/ 5 Bath Tower 2 Model at King Street Towers in the in the Waterloo North East neighborhood starting from $1,100. The second greatest value Waterloo apartment is the 2 Bedroom Model at The HUB - 365 Albert starting at $1,807 with a $1.63 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. |
|---|---|---|---|
| King Street Towers | 5 Bedroom/ 5 Bath Tower 2 | 5BR,5BA | $0.80 |
| The HUB - 365 Albert | 2 Bedroom | 2BR,2BA | $1.63 |
| The HUB GEOWAVE | 2 Bedroom | 2BR,2BA | $1.63 |
| University Place - 50 University Ave E | 3 Beds, 1.5 baths | 3BR,1.5BA | $0.63 |
| Regency | 2 Bedroom | 2BR,1BA | $1.75 |
| Preston House | 5 Bedroom, 5 Bath | 5BR,5BA | $1.14 |
| Bridgeport House | 5 Bedroom, 5 Bath | 5BR,5BA | $0.70 |
| Fergus House | 4 Bedroom 4 Bathroom | 4BR,4BA | $0.81 |
| Hespeler House | 4 Bedroom 4 Bathroom | 4BR,4BA | $0.87 |
| 250 Lester St | 2 Bedroom plus Den | 2BR,1.5BA | $1.65 |
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 Article
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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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 $1,404.
What is the price of a cheap apartment in Waterloo?
The cheapest apartment in Waterloo is Walnut Village Inc. which is listed at $599, while the average apartment in Waterloo costs $1,767.
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 162 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 $969 which is $798 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
Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.
Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.
Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.