Cheap Homes for Rent in Waterloo, ON from $700 (40 Rentals)

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property at 253 Lester St

253 Lester St

WaterlooONN2L 3W6
property at 251 Lester St

251 Lester St

WaterlooONN2L 3W6
property at 261 Lester St

261 Lester St

WaterlooONN2L 3W6
property at 271 Lester St

271 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.

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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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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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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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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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Showing Results 1-40, Page 1 of 1

Waterloo, ON Local Guide

Cheapest Neighborhoods for Apartments in Waterloo, ON

Pricing Updated: 12/11/2025

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 East$2,228$75069
Waterloo Uptown$2,250$57566
Waterloo North West$2,555$57594
Waterloo University$2,557$57582

Cheapest Available Waterloo Apartments for Rent

 

The cheapest available apartment rental in Waterloo, ON is a 1 Bed unit found at Spring Village in the Waterloo North East neighborhood priced from $785. 185 King St N in the Waterloo North East neighborhood has the second lowest priced unit, which is a 5 Beds apartment currently listed from $949. Here is today’s list of the most affordable Waterloo apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Spring Village1 Bedroom Shared Accommodation1BR,1BA$785
185 King St N5 Beds, 5 baths5BR,5BA$949
GiorgioStudioStudio,1BA$1,425
Huntington Place1 Bedroom1BR,1BA$1,449
Kings TowerStudioStudio,1BA$1,459
Davenport Apartments1 Bedroom1BR,1BA$1,497
214 York Queen1 Bed1BR,1BA$1,500
Westwood Drive Apartments1 Bedroom Model1BR,1BA$1,525
100 Walter St1 Bedroom1BR,1BA$1,535
265 Lawrence Avenue Townhomes1 Beds, 1 Baths1BR,1BA$1,550

Best Value Apartments for Rent in Waterloo, ON

As of December 11, 2025 the best value apartment in the Waterloo area is the $1.67 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 $2,500. The second greatest value Waterloo apartment is the 2 Beds, 1 Baths Model at William Apartments starting at $2,425 with a $1.64 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.
Sunnydale3 Bedroom(s) and 1.5 Bathroom(s)3BR,1.5BA$1.67
William Apartments2 Beds, 1 Baths2BR,1BA$1.64
Regency2 Bedroom2BR,1BA$1.69
Victoria Park Place I2 Bedroom Model2BR,2BA$1.94
520 Parkside DrThree Bedroom Apartment3BR,1.5BA$1.94
250 Frederick StTwo Bedroom2BR,1BA$1.73
Beacon TowerTwo Bedroom2BR,1BA$2.01
Vertikal1 Bed, 1 Bath Model1BR,1BA$1.76
Queen Margaret I1 Bedroom1BR,1BA$1.94
214 York Queen1 Bed1BR,1BA$1.94

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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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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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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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 652 Apartments for Rent in Waterloo, ON with pricing that ranges from $575 to $4,505. There are also 340 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $725 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 $725 to $6,000 with an average monthly rent of $2,345.

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 $1,200 to $2,895, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,750 to $4,950. Four Bedroom Single-Family rentals are also available starting from $800 and Four Bedroom Apartments start at $1,060.

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

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.