Cheap Homes for Rent in Waterloo, ON from C$600 (26 Rentals)

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property at 95 Park St

95 Park St

WaterlooONN2L 1Y2
property at 271 Lester St

271 Lester St

WaterlooONN2L 3W6
property at 251 Lester St

251 Lester St

WaterlooONN2L 3W6

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.

Read Article
property at 253 Lester St

253 Lester St

WaterlooONN2L 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.

Read Article

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 Article

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.

Read Article
Showing Results 1-26, Page 1 of 1

Waterloo, ON Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, ON

Pricing Updated: 09/09/2025

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$3,987C$60068
Waterloo North WestC$4,000C$75097
Waterloo UniversityC$6,000C$67546
Waterloo UptownC$6,000C$60078

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 ListingModel NameBed/BathPriced From
The MARQ Waterloo at 345 King Street North1 Room in a 5 Bedroom Immediate (12 Months)5BR,2BAC$599
261 Lester St0 Beds, 2 BathsStudio,2BAC$750
Spring Village1 Bedroom Shared Accommodation1BR,1BAC$785
King Street Towers - Student Living4 Bedroom/ 3 Bath4BR,3BAC$830
The Marq1 Room in a 4 Bedroom Immedaite (12 Months)4BR,2BAC$925
MyRez On Lester - Student Living5 Bedroom, 2.5 Bath5BR,2BAC$1,225
Preston House - Student Living5 Bedroom, 5 Bath5BR,5BAC$1,280
Fergus House - Student Living4 Bedroom 4 Bathroom4BR,4BAC$1,350
Hespeler House - Student Living4 Bedroom 4 Bathroom4BR,4BAC$1,350

Best Value Apartments for Rent in Waterloo, ON

As of September 09, 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 ListingModel NameBed/BathPrice Per Sq.Ft.
MyRez On Lester - Student Living5 Bedroom, 2.5 Bath5BR,2.5BAC$0.81
200 Shakespeare Drive2 Bedroom, 2 Bathroom2BR,2BAC$1.58
295 Lester St295 Lester St5BR,5BAC$0.64
250 Frederick StTwo Bedroom2BR,1BAC$1.73
Preston House - Student Living5 Bedroom, 5 Bath5BR,5BAC$1.27
Bridgeport House - Student Living5 Bedroom, 5 Bath5BR,5BAC$1.22
The MARQ Waterloo at 345 King Street North1 Room in a 5 Bedroom SEPT. (12 Months)5BR,2BAC$0.85
Fergus House - Student Living4 Bedroom 4 Bathroom4BR,4BAC$1.37
Hespeler House - Student Living4 Bedroom 4 Bathroom4BR,4BAC$1.46
The Marq1 Room in a 4 Bedroom Immedaite (12 Months)4BR,2BAC$1.01

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Waterloo, ON Rentals by Map

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See the most popular apartments and homes in Waterloo, ON

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Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 641 Apartments for Rent in Waterloo, ON with pricing that ranges from C$575 to C$6,450. There are also 239 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from C$600 to C$6,000.

What is the current price range for Rental Homes in Waterloo?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Waterloo ranges from C$600 to C$6,000 with an average monthly rent of C$2,486.

How much are larger Three and Four Bedroom Rentals in Waterloo?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Waterloo range from C$2,050 to C$4,365, while Three Bedroom Homes, Condos, and Townhomes for rent range from C$1,750 to C$4,500. Four Bedroom Single-Family rentals are also available starting from C$800 and Four Bedroom Apartments start at C$830.

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 Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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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.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

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.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

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.