379-379 Erb St. W
WaterlooONN2L 1W7
Cheap Apartments for Rent in Waterloo, ON from $500 (22 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterloo.
251-251 Lester St
WaterlooONN2L 3W6
253-253 Lester St
WaterlooONN2L 3W6
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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
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$8635 Bedroom Apartment Available Sep 1
86 University Av W
86 University Av WWaterloo, ON N2L 3C8
271-271 Lester St
WaterlooONN2L 3W6
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$1,0005 Bedroom Apartment Available Sep 1
295 Lester St
295 Lester StWaterloo, ON N2L 0C1
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.
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Rent Specials
$1,060 - $5,6505 Bedroom Apartments Available Sep 1
MyRez On Lester - Student Living
181 Lester StWaterloo, ON N2L 3W3
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$1,060 - $1,2003 to 6 Bedroom Apartments Available Now
King Street Towers - Student Living
333-339 King St NWaterloo, ON N2J 0C5
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$1,213 - $1,3702 Bedroom Apartments Available Now
308 King
308 King St NWaterloo, ON N2J 0G4
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$675 - $725Studio Apartments
308 Hawthorn St
308 Hawthorn StWaterloo, ON N2L 3N4
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$750Studio to 1 Bedroom Apartments
261 Lester St
261 Lester StWaterloo, ON N2L 3W6
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$785 - $1,1261 to 2 Bedroom Apartments
Spring Village
208 Sunview StWaterloo, ON N2L 3V6
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$795Studio Apartments
253 Lester St
253 Lester StWaterloo, ON N2L 3W6
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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$8951 to 2 Bedroom Apartments
251 Lester St
251 Lester StWaterloo, ON N2L 3W6
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$949 - $1,3005 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
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$1,150 - $2,1001 to 2 Bedroom Apartments
311 Batavia Pl
311 Batavia PlWaterloo, ON N2L 3W1
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$1,095 - $1,1951 to 2 Bedroom Apartments
118 Fife Ave
118 Fife AveKitchener, ON N2B 3C1
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$1,095 - $1,1951 to 2 Bedroom Apartments
110 Fife Ave
110 Fife AveKitchener, ON N2B 3C1
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$1,0951 Bedroom Apartments
Park Manor
521 Park StKitchener, ON N2G 1N8
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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$1,100 - $1,350Studio to 2 Bedroom Apartments
65 Roy St
65 Roy StKitchener, ON N2H 4B4
Showing Results 1-22, Page 1 of 1
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 | $1,425 | $1,425 | $1,425 |
| Cheap Waterloo 1 Bedroom Apartments | $1,941 | $575 | $2,700 |
| Cheap Waterloo 2 Bedroom Apartments | $2,183 | $1,213 | $4,505 |
| Cheap Waterloo 3 Bedroom Apartments | $1,935 | $795 | $2,895 |
| Cheap Waterloo 4 Bedroom Apartments | $1,349 | $795 | $2,700 |
| Waterloo 5 Bedroom Apartments | $1,537 | $700 | $5,650 |
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: 01/21/2026Current 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 | $2,227 | $575 | 70 |
| Waterloo North East | $2,285 | $700 | 90 |
| Waterloo North West | $2,285 | $575 | 89 |
| Waterloo University | $2,326 | $575 | 86 |
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 |
| Preston House - Student Living | 5 Bedroom, 5 Bath | 5BR,5BA | $1,050 |
| King Street Towers - Student Living | 6 Bedroom/ 5 Bath Tower 2 | 6BR,5BA | $1,060 |
| 308 King | 1 Bedroom 1 Den 1 Bathroom | 2BR,1BA | $1,213 |
Best Value Apartments for Rent in Waterloo, ON
As of January 21, 2026 the best value apartment in the Waterloo area is the $1.73 price per square foot 3 Beds, 2 baths Model at Ivy Towns in the in the Waterloo North East neighborhood starting from $3,150. The second greatest value Waterloo apartment is the 3 Bedroom(s) and 1.5 Bathroom(s) Model at Sunnydale starting at $2,500 with a $1.67 price per square foot in the Waterloo North West 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 Towns | 3 Beds, 2 baths | 3BR,2BA | $1.73 |
| Sunnydale | 3 Bedroom(s) and 1.5 Bathroom(s) | 3BR,1.5BA | $1.67 |
| William Apartments | 2 Beds, 1 Baths | 2BR,1BA | $1.64 |
| University Place - 50 University Ave E | 3 Beds, 1.5 baths | 3BR,1.5BA | $0.72 |
| King Street Towers - Student Living | 4 Bedroom/ 4 Bath | 4BR,4BA | $1.04 |
| Preston House - Student Living | 5 Bedroom, 5 Bath | 5BR,5BA | $1.04 |
| Bridgeport House | 5 Bedroom, 5 Bath | 5BR,5BA | $0.82 |
| Fergus House - Student Living | 4 Bedroom 4 Bathroom | 4BR,4BA | $1.31 |
| Hespeler House - Student Living | 4 Bedroom 4 Bathroom | 4BR,4BA | $1.38 |
| Park Place | One Bedroom | 1BR,1BA | $1.82 |
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.
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The 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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See the most popular apartments and homes in Waterloo, ON
Frequently Asked Questions about Cheap Waterloo Apartments
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 $2,280.
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 64 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 $763 which is $1,517 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
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.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.
Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!