379-379 Erb St. W
WaterlooONN2L 1W7
Cheap Apartments for Rent in Waterloo, ON from C$500 (21 Rentals)
Search the lowest-cost Apartments available for rent right now in Waterloo.
271-271 Lester St
WaterlooONN2L 3W6
253-253 Lester St
WaterlooONN2L 3W6
261 Lester St
WaterlooONN2L 3W6
392 Albert St
WaterlooONN2L 3V1
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C$830 - C$6,0003 to 6 Bedroom Apartments Available Now
King Street Towers - Student Living
333-339 King St NWaterloo, ON N2J 0C5
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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275 Larch St
WaterlooONN2L 3R2
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C$1,225 - C$6,4505 Bedroom Apartments Available Now
MyRez On Lester - Student Living
181 Lester StWaterloo, ON N2L 3W3
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2 to 6 Bedroom Apartments
University Place - 50 University Ave E
50 University Ave EWaterloo, ON N2J 2V9
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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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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.
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Showing Results 1-21, 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 | C$1,031 | C$750 | C$1,550 |
| Cheap Waterloo 1 Bedroom Apartments | C$2,022 | C$575 | C$2,949 |
| Cheap Waterloo 2 Bedroom Apartments | C$2,324 | C$1,350 | C$4,505 |
| Cheap Waterloo 3 Bedroom Apartments | C$3,211 | C$2,050 | C$4,365 |
| Cheap Waterloo 4 Bedroom Apartments | C$2,912 | C$830 | C$5,400 |
| Waterloo 5 Bedroom Apartments | C$3,485 | C$750 | C$6,450 |
Browse Top Apartments in Waterloo
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Waterloo, ON Local Guide
- Waterloo Neighborhoods
- Nearby Cities
Cheapest Neighborhoods for Apartments in Waterloo, ON
Pricing Updated: 09/04/2025Current 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 | C$3,375 | C$575 | 89 |
| Waterloo North East | C$4,365 | C$750 | 101 |
| Waterloo North West | C$4,365 | C$575 | 125 |
| Waterloo University | C$4,365 | C$575 | 125 |
Cheapest Available Waterloo Apartments for Rent
The cheapest available apartment rental in Waterloo, ON is a 5 Beds unit found at The MARQ Waterloo at 345 King Street North in the Waterloo North East neighborhood priced from C$599. 261 Lester St in the Waterloo North East neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from C$750. Here is today’s list of the most affordable Waterloo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The MARQ Waterloo at 345 King Street North | 1 Room in a 5 Bedroom Immediate (12 Months) | 5BR,2BA | C$599 |
| 261 Lester St | 0 Beds, 2 Baths | Studio,2BA | C$750 |
| Spring Village | 1 Bedroom Shared Accommodation | 1BR,1BA | C$785 |
| King Street Towers - Student Living | 4 Bedroom/ 3 Bath | 4BR,3BA | C$830 |
| The Marq | 1 Room in a 4 Bedroom Immedaite (12 Months) | 4BR,2BA | C$925 |
Best Value Apartments for Rent in Waterloo, ON
As of September 05, 2025 the best value apartment in the Waterloo area is the C$0.81 price per square foot 5 Bedroom, 2.5 Bath Model at MyRez On Lester - Student Living in the in the Waterloo North East neighborhood starting from C$1,225. The second greatest value Waterloo apartment is the 2 Bedroom, 2 Bathroom Model at 200 Shakespeare Drive starting at C$2,350 with a C$1.58 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. |
|---|---|---|---|
| MyRez On Lester - Student Living | 5 Bedroom, 2.5 Bath | 5BR,2.5BA | C$0.81 |
| 200 Shakespeare Drive | 2 Bedroom, 2 Bathroom | 2BR,2BA | C$1.58 |
| 295 Lester St | 295 Lester St | 5BR,5BA | C$0.64 |
| Queen Margaret II | 2 Bedroom | 2BR,2BA | C$1.62 |
| Preston House - Student Living | 5 Bedroom, 5 Bath | 5BR,5BA | C$1.27 |
| Bridgeport House - Student Living | 5 Bedroom, 5 Bath | 5BR,5BA | C$1.22 |
| The MARQ Waterloo at 345 King Street North | 1 Room in a 5 Bedroom SEPT. (12 Months) | 5BR,2BA | C$0.85 |
| Fergus House - Student Living | 4 Bedroom 4 Bathroom | 4BR,4BA | C$1.37 |
| Hespeler House - Student Living | 4 Bedroom 4 Bathroom | 4BR,4BA | C$1.46 |
| The Marq | 1 Room in a 4 Bedroom Immedaite (12 Months) | 4BR,2BA | C$1.01 |
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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 C$785, while the average apartment in Waterloo costs C$4,117.
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 155 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 C$2,369 which is C$1,748 cheaper than the average rent for all rentals in Waterloo.
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.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.
The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.
Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Written by: Christine Leonard, Esq.
Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.