Cheap Homes for Rent in Waterloo, ON from $700 (81 Rentals)

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

property at 271 Lester St
$700 - $750
1 To 5 Bedroom Rentals
Available Now
Furnished

271 Lester St

WaterlooONN2L 3W6

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 74 Mcdougall Rd
$1,000 - $3,000

Total Monthly Price

Base Rent$1,000 - $3,000
Total Monthly Price$1,000 - $3,000
1 To 4 Bedroom Homes for Rent
Available Now
Cost Per Sq.Ft.

74 Mcdougall Rd

WaterlooONN2L 2W5

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 85 High Acres Cres
$1,250

Total Monthly Price

Base Rent$1,250
Total Monthly Price$1,250
1 Bedroom, 1 Bath Home for Rent
Available Now
Affordability

85 High Acres Cres

KitchenerONN2N 2S3
  • Smoke Free
property at 601 Frederick St
$1,375

Total Monthly Price

Base Rent$1,375
Total Monthly Price$1,375
1 Bedroom, 1 Bath Home for Rent
Available Now
Affordability

601 Frederick St

KitchenerONN2B 2A8
property at 99 Westwood Dr
$1,385 - $1,625
Studio To 2 Bedroom Rentals
Available Now
Affordability

99 Westwood Dr

KitchenerONN2M 2K7

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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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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property at 156 Cedar St S
$1,495
1 Bedroom Rentals
Available Now
Affordability

156 Cedar St S

KitchenerONN2G 3M1

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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Showing Results 1-50, Page 1 of 2

Waterloo, ON Local Guide

Cheapest Neighborhoods for Homes in Waterloo, ON

Pricing Updated: 09/23/2026

Current rental homes in the Waterloo, ON area range in price from $700 to $5,000 with an overall median price of $2,165. Here is today’s list neighborhoods with the lowest median pricing for Waterloo Homes for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Waterloo Uptown$1,972$700355
Waterloo University$2,100$740152
Waterloo North East$2,200$740195
Waterloo North West$2,400$740305

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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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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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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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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Frequently Asked Questions about Waterloo

What type of rentals are currently available in Waterloo?

There are currently 664 Apartments for Rent in Waterloo, ON with pricing that ranges from $575 to $6,105. There are also 848 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterloo ranging from $700 to $5,000.

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 $5,000 with an average monthly rent of $2,236.

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 $695 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 How Commercial-to-Residential Property Conversions Help the Housing Crisis article

How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

decorative image for Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My! article

Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.