379-379 Erb St. W
WaterlooONN2L 1W7
Cheap Apartments for Rent in Waterloo, ON from $500 (61 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterloo.
325 Spruce St
WaterlooONN2L 3M6
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Rent Specials
$750 - $5,7404 to 6 Bedroom Apartments Available Now
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
50 University Ave E
WaterlooONN2J 2V8
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$795 - $820
Total Monthly Price
3 to 6 Bedroom Apartments Available NowTotal Monthly Price
Base Rent
$795 - $820
Total Monthly Price
$795 - $820
University Place - 50 University Ave E
50 University Ave EWaterloo, ON N2J 2V9
253 Lester St
WaterlooONN2L 3W6
392 Albert St
WaterlooONN2L 3V1
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.
251 Lester St
WaterlooONN2L 3W6
251-251 Lester St
WaterlooONN2L 3W6
253-253 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
308 Lester St
WaterlooONN2L 0H9
407 Keats Way
WaterlooONN2L 5S7
158 King St N
WaterlooONN2J 0E5
158 King St N
WaterlooONN2J 0E5
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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$675 - $725Studio Apartments
308 Hawthorn St
308 Hawthorn StWaterloo, ON N2L 3N4
38 Noecker St
WaterlooONN2J 2R4
38 Noecker St
WaterlooONN2J 2R4
12 Bridgeport Rd E
WaterlooONN2J 2J3
12 Bridgeport Rd E
WaterlooONN2J 2J3
43 Dupont St E
WaterlooONN2J 2G8
43 Dupont St E
WaterlooONN2J 2G8
119 University Av E
WaterlooONN2J 2W1
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$750Studio to 1 Bedroom Apartments
261 Lester St
261 Lester StWaterloo, ON N2L 3W6
271 Lester St
WaterlooONN2L 3W6
Cash 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.
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$785 - $1,0011 to 2 Bedroom Apartments
Spring Village
208 Sunview StWaterloo, ON N2L 3V6
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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
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
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$8951 to 2 Bedroom Apartments
251 Lester St
251 Lester StWaterloo, ON N2L 3W6
392 Albert St
WaterlooONN2L 3V1
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.
392 Albert St
WaterlooONN2L 3V1
166 Elgin Crescent
WaterlooONN2J 2S6
166 Elgin Crescent
WaterlooONN2J 2S6
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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
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$1,150 - $2,1001 to 2 Bedroom Apartments
311 Batavia Pl
311 Batavia PlWaterloo, ON N2L 3W1
124 King St N
WaterlooONN2J 2X8
124 King St N
WaterlooONN2J 2X8
275 Larch St
WaterlooONN2L 3R2
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.
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 | $1,427 | $1,300 | $1,545 |
| Cheap Waterloo 1 Bedroom Apartments | $1,975 | $575 | $5,180 |
| Cheap Waterloo 2 Bedroom Apartments | $2,154 | $995 | $5,665 |
| Cheap Waterloo 3 Bedroom Apartments | $2,415 | $795 | $6,105 |
| Cheap Waterloo 4 Bedroom Apartments | $1,317 | $750 | $3,620 |
| Waterloo 5 Bedroom Apartments | $1,684 | $699 | $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
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Waterloo, ON Local Guide
- Waterloo Neighborhoods
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Cheapest Neighborhoods for Apartments in Waterloo, ON
Pricing Updated: 06/06/2026Current 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 North East | $2,329 | $699 | 113 |
| Waterloo North West | $2,337 | $575 | 93 |
| Waterloo Uptown | $2,340 | $575 | 85 |
| Waterloo University | $2,394 | $575 | 99 |
Cheapest Available Waterloo Apartments for Rent
The cheapest available apartment rental in Waterloo, ON is a 5 Beds unit found at Preston House in the Waterloo North East neighborhood priced from $749. King Street Towers in the Waterloo North East neighborhood has the second lowest priced unit, which is a 6 Beds apartment currently listed from $750. Here is today’s list of the most affordable Waterloo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Preston House | 5 Bedroom, 5 Bath | 5BR,5BA | $749 |
| King Street Towers | 6 Bedroom/ 5 Bath Tower 2 | 6BR,5BA | $750 |
| Spring Village | 1 Bedroom Shared Accommodation | 1BR,1BA | $785 |
| University Place - 50 University Ave E | 6 Beds, 2 baths | 6BR,2BA | $795 |
| 43 Benton St | 1 Bedroom | 1BR,1BA | $1,400 |
| Mooregate Apartments | Studio, 1 Bathroom | Studio,1BA | $1,415 |
| NUVO - 1442 Highland Road West | Studio | Studio,1BA | $1,425 |
| Westwood Garden Apartments | Studio | Studio,1BA | $1,449 |
| 214 York Queen | 1 Bed | 1BR,1BA | $1,450 |
| Avenue Apartments | Studio, 1 Bathroom | Studio,1BA | $1,475 |
Best Value Apartments for Rent in Waterloo, ON
As of June 06, 2026 the best value apartment in the Waterloo area is the $1.90 price per square foot 2-Level Townhouse 2 Bed + 3 Bath + Den + Media ... Model at The Carrick in the in the Kitchener South West neighborhood starting from $3,945. The second greatest value Waterloo apartment is the 3 Bedroom(s) and 1.5 Bathroom(s) Model at Sunnydale starting at $2,650 with a $1.77 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. |
|---|---|---|---|
| The Carrick | 2-Level Townhouse 2 Bed + 3 Bath + Den + Media ... | 2BR,3BA | $1.90 |
| Sunnydale | 3 Bedroom(s) and 1.5 Bathroom(s) | 3BR,1.5BA | $1.77 |
| William Apartments | 2 Beds, 1 Baths | 2BR,1BA | $1.80 |
| King Street Towers | 5 Bedroom/ 5 Bath Tower 1 | 5BR,5BA | $0.85 |
| University Place - 50 University Ave E | 3 Beds, 1.5 baths | 3BR,1.5BA | $0.72 |
| Preston House | 5 Bedroom, 5 Bath | 5BR,5BA | $0.74 |
| Bridgeport House | 5 Bedroom, 5 Bath | 5BR,5BA | $0.70 |
| Westheights Place | 2 Bedroom Premium | 2BR,1BA | $1.92 |
| Metropolitan Towers | 2 Bedroom | 2BR,2BA | $1.93 |
| 214 York Queen | 1 Bed | 1BR,1BA | $1.87 |
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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Real 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 $1,475.
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 $2,350.
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 148 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 $1,095 which is $1,255 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
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.