Cheap Homes for Rent in Waterloo, ON from $700 (96 Rentals)

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

property at 271 Lester St

$750

5 Bedroom Rentals

Available Now

271 Lester St

WaterlooONN2L 3W6
property at 16 Marshall St

$805

4 Bedroom, 2 Bath Home for Rent

Available Now

16 Marshall St

WaterlooONN2J 2T2

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 16 Marshall St

$805

4 Bedroom, 2 Bath Home for Rent

Available Now

16 Marshall St

WaterlooONN2J 2T2
property at 296 Patricia Av

$1,100 - $2,300

Total Monthly Price

Total Monthly Price

Base Rent
$1,100 - $2,300
Total Monthly Price
$1,100 - $2,300

1 To 4 Bedroom Homes for Rent

Available Now

296 Patricia Av

KitchenerONN2M 1K1

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 139 Church St

$1,345

1 Bedroom Rentals

Available Now

139 Church St

KitchenerONN2G 2S5

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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property at 99 Westwood Dr

$1,400 - $1,625

Studio To 2 Bedroom Rentals

Available Now

99 Westwood Dr

KitchenerONN2M 2K7
property at 461 Victoria St S

$1,450

Total Monthly Price

Total Monthly Price

Base Rent
$1,450
Total Monthly Price
$1,450

1 Bedroom, 1 Bath Home for Rent

Available Now

461 Victoria St S

KitchenerONN2M 3A6

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.

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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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Waterloo, ON Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, ON

Pricing Updated: 08/09/2026

Current apartment rentals in the Waterloo, ON area range in price from $700 to $6,000 with an overall median price of $2,181. Here is today’s list neighborhoods with the lowest median pricing for Waterloo Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Waterloo Uptown$2,100$750393
Waterloo North East$2,200$700269
Waterloo University$2,200$750211
Waterloo North West$2,250$750322

Cheapest Available Waterloo Apartments for Rent

 

The cheapest available apartment rental in Waterloo, ON is a 4 Beds unit found at 143 Columbia in the Waterloo North East neighborhood priced from $605. Walnut Village Inc. in the Waterloo North East neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $611. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
143 ColumbiaLpSt24BR,2BA$605
Walnut Village Inc.1 Bedroom Shared Accommodation1BR,1BA$611
Spring Village1 Bedroom Shared Accommodation1BR,1BA$611
University Place - 50 University Ave E6 Beds, 2 baths6BR,2BA$795
Mad Mill ApartmentsUnit 91BR,1BA$1,395
250 Frederick StOne Bedroom1BR,1BA$1,399
Capitol Hill Apartments1 Bed 1 Bath C1BR,1BA$1,405
Mooregate ApartmentsStudio, 1 BathroomStudio,1BA$1,415
NUVO - 1442 Highland Road WestStudioStudio,1BA$1,425
Westwood Garden ApartmentsStudioStudio,1BA$1,449

Best Value Apartments for Rent in Waterloo, ON

As of August 09, 2026 the best value apartment in the Waterloo area is the $1.77 price per square foot 3 Bedroom(s) and 1.5 Bathroom(s) Model at Sunnydale in the in the Waterloo North West neighborhood starting from $2,650. The second greatest value Waterloo apartment is the 2 Bedroom plus Den Model at 255 Sunview St starting at $2,174 with a $1.81 price per square foot in the Waterloo North East 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.
Sunnydale3 Bedroom(s) and 1.5 Bathroom(s)3BR,1.5BA$1.77
255 Sunview St2 Bedroom plus Den2BR,2BA$1.81
Beechwood Apartments2 Beds, 1.5 baths2BR,1.5BA$1.79
University Place - 50 University Ave E3 Beds, 1.5 baths3BR,1.5BA$0.72
76 Brybeck Cres2 Bed + Den2BR,1BA$1.80
Parkside Tower2 Bedroom, 1 Bathroom2BR,1BA$1.98
The HUB - 365 Albert1 Bedroom plus Den1BR,1BA$1.92
383 Albert StOne Bedroom Apartment1BR,1BA$1.85
Beacon TowerOne Bedroom1BR,1BA$1.97
214 York Queen1 bedroom1BR,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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Waterloo, ON Rentals by Map

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Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 670 Apartments for Rent in Waterloo, ON with pricing that ranges from $575 to $6,105. There are also 881 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $700 to $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 $700 to $6,000 with an average monthly rent of $2,194.

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 $795 to $6,105, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,150 to $3,850. Four Bedroom Single-Family rentals are also available starting from $805 and Four Bedroom Apartments start at $645.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.