Cheap Apartments for Rent in Waterloo, ON from C$500 (28 Rentals)

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Search the lowest-cost Apartments available for rent right now in Waterloo.

property at 379 Erb St. W

379 Erb St. W

WaterlooONN2L 1W7

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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property at 261 Lester St

261 Lester St

WaterlooONN2L 3W6
property at 253 Lester St

253 Lester St

WaterlooONN2L 3W6
property at 185 King St N

185 King St N

WaterlooONN2J 0E1
property at 392 Albert St

392 Albert St

WaterlooONN2L 3V1

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.

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property at 275 Larch St

275 Larch St

WaterlooONN2L 3R2
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Park Manor
1 Bedroom Apartments

Park Manor

521 Park StKitchener, ON N2G 1N8
  • Utilities Included

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.

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Showing Results 1-28, Page 1 of 1

Waterloo, ON Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, ON

Pricing Updated: 06/03/2025

Current 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:

NeighborhoodMedian PriceMin PriceAvailable Units
Waterloo North EastC$3,200C$70075
Waterloo North WestC$3,300C$60088
Waterloo UniversityC$3,597C$60061
Waterloo UptownC$3,597C$60099

Cheapest Available Waterloo Apartments for Rent

 

The cheapest available apartment rental in Waterloo, ON is a 6 Beds unit found at University Place - 50 University Ave E in the Kitchener North West neighborhood priced from C$670. King Street Towers in the Waterloo North East neighborhood has the second lowest priced unit, which is a 6 Beds apartment currently listed from C$730. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
University Place - 50 University Ave E6 Beds, 2 baths6BR,2BAC$670
King Street Towers6 Bedroom/ 5 Bath Tower 26BR,5BAC$730
253 Lester St0 Beds, 2 BathsStudio,2BAC$795
Spring Village1 Bedroom Shared Accommodation1BR,1BAC$968
Fergus House4 Bedroom 4 Bathroom4BR,4BAC$1,350
Hespeler House4 Bedroom 4 Bathroom4BR,4BAC$1,375
Royal & Wales ApartmentsOne Bedroom1BR,1BAC$1,399
214 York QueenOne Bedroom1BR,1BAC$1,400
The EstatesBachelorStudio,1BAC$1,425
NUVOStudioStudio,1BAC$1,425

Best Value Apartments for Rent in Waterloo, ON

As of June 03, 2025 the best value apartment in the Waterloo area is the C$2.04 price per square foot 4 Bedroom Townhouse Model at Sunnydale in the in the Waterloo North West neighborhood starting from C$2,850. The second greatest value Waterloo apartment is the 2 Beds, 1 Baths Model at William Apartments starting at C$2,495 with a C$1.85 price per square foot in the Waterloo Uptown neighborhood. Here is today’s list of the best values for Waterloo apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Sunnydale4 Bedroom Townhouse4BR,2BAC$2.04
William Apartments2 Beds, 1 Baths2BR,1BAC$1.85
520 Parkside DrThree Bedroom Apartment3BR,1.5BAC$1.94
Westheights Place2 Bedroom Premium2BR,1BAC$1.92
Fergus House4 Bedroom 4 Bathroom4BR,4BAC$1.37
University Place - 50 University Ave E2 Beds, 1 bath2BR,1BAC$0.69
Hespeler House4 Bedroom 4 Bathroom4BR,4BAC$1.49
250 Frederick StOne Bedroom1BR,1BAC$2.00
Queen Margaret I1 Bedroom1BR,1BAC$2.21
Davenport Apartments1 Bedroom1BR,1BAC$2.27

Quick Rent Budget Calculator

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Frequently Asked Questions about Cheap Waterloo Apartments

What is the Cheapest Studio apartment in Waterloo?

Currently the most affordable Cheap Studio Apartment in Waterloo is at 253 Lester St listed at C$795.

How much is rent for a Cheap One Bedroom Waterloo Apartment?

The lowest price for a Cheap One Bedroom Waterloo Apartment is C$968 at Spring Village.

What is the lowest price for a Cheap Two Bedroom Waterloo Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Waterloo is starting from C$670 at University Place - 50 University Ave E.

What is the most affordable Waterloo Three Bedroom Apartment?

The best deal on a cheap Waterloo Three Bedroom Apartment rental is at University Place - 50 University Ave E and starts from C$670.

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.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.