379-379 Erb St. W
WaterlooONN2L 1W7
Cheap Apartments for Rent in the Waterloo University Neighborhood of Waterloo, ON from $500 (38 Rentals)
Search the lowest-cost Apartments available for rent right now in the Waterloo University area of Waterloo.
325 Spruce St
WaterlooONN2L 3M6
close
View Me
Rent Specials
$750 - $5,7404 to 6 Bedroom Apartments Available Now
King Street Towers
333-339 King St NWaterloo, ON N2J 0C5
271-271 Lester St
WaterlooONN2L 3W6
261 Lester St
WaterlooONN2L 3W6
261-261 Lester St
WaterlooONN2L 3W6
253 Lester St
WaterlooONN2L 3W6
392 Albert St
WaterlooONN2L 3V1
251 Lester St
WaterlooONN2L 3W6
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.
251-251 Lester St
WaterlooONN2L 3W6
253-253 Lester St
WaterlooONN2L 3W6
close
View Me
$863
Total Monthly Price
5 Bedroom Apartment Available Sep 1Total Monthly Price
Base Rent
$863
Total Monthly Price
$863
86 University Av W
86 University Av WWaterloo, ON N2L 3C8
close
View Me
$1,0005 Bedroom Apartment Available Sep 1
295 Lester St
295 Lester StWaterloo, ON N2L 0C1
close
View Me
Rent Specials
$1,060 - $5,6505 Bedroom Apartments Contact Us For Availability
MyRez on Lester
181 Lester StWaterloo, ON N2L 3W3
close
View Me
$1,350 - $2,5801 to 3 Bedroom Apartments Available Now
Beechwood Apartments
508 Beechwood DrWaterloo, ON N2T 1H3
407 Keats Way
WaterlooONN2L 5S7
158 King St N
WaterlooONN2J 0E5
158 King St N
WaterlooONN2J 0E5
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.
close
View Me
$675 - $725Studio Apartments
308 Hawthorn St
308 Hawthorn StWaterloo, ON N2L 3N4
close
View Me
$750Studio to 1 Bedroom Apartments
261 Lester St
261 Lester StWaterloo, ON N2L 3W6
271 Lester St
WaterlooONN2L 3W6
close
View Me
$785 - $1,0011 to 2 Bedroom Apartments
Spring Village
208 Sunview StWaterloo, ON N2L 3V6
close
View Me
$785 - $9875 Bedroom Apartments
Linden Village Inc.
203 Lester StWaterloo, ON N2L 0B5
close
View Me
$795Studio Apartments
253 Lester St
253 Lester StWaterloo, ON N2L 3W6
16 Marshall St
WaterlooONN2J 2T2
16 Marshall St
WaterlooONN2J 2T2
16 Marshall St
WaterlooONN2J 2T2
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.
16 Marshall St
WaterlooONN2J 2T2
close
View Me
$8951 to 2 Bedroom Apartments
251 Lester St
251 Lester StWaterloo, ON N2L 3W6
392 Albert St
WaterlooONN2L 3V1
392 Albert St
WaterlooONN2L 3V1
288 Albert St
WaterlooONN2L 0G9
288 Albert St
WaterlooONN2L 0G9
close
View Me
$1,150 - $2,1001 to 2 Bedroom Apartments
311 Batavia Pl
311 Batavia PlWaterloo, ON N2L 3W1
124 King St N
WaterlooONN2J 2X8
124 King St N
WaterlooONN2J 2X8
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.
275 Larch St
WaterlooONN2L 3R2
275 Larch St
WaterlooONN2L 3R2
Showing Results 1-38, Page 1 of 1
Waterloo University, Waterloo, ON Local Guide
How much does it cost to rent an apartment in Waterloo University?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Waterloo University Studio Apartments | $1,503 | $1,475 | $1,545 |
| Waterloo University 1 Bedroom Apartments | $2,173 | $575 | $5,180 |
| Waterloo University 2 Bedroom Apartments | $2,221 | $995 | $5,665 |
| Waterloo University 3 Bedroom Apartments | $2,673 | $1,995 | $6,105 |
| Waterloo University 4 Bedroom Apartments | $1,492 | $750 | $3,620 |
| Waterloo University 5 Bedroom Apartments | $1,904 | $699 | $5,650 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Apartments in this Neighborhood
There are currently 38 rentals with your search options within a 2 mile radius of the Waterloo University Neighborhood of Waterloo, ON.
See all Apartments in WaterlooExplore Waterloo
Let everyone know!
Do you know the Waterloo University area?
If you’re an expert on all things Waterloo University, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Cheapest Available Waterloo University Apartments for Rent
The cheapest available apartment rental in the Waterloo University area of Waterloo, ON is a 6 Beds unit found at King Street Towers priced from $750. Spring Village has the second lowest priced unit, which is a 1 Bed apartment currently listed from $785. Here are the most affordable Waterloo University apartments for rent in Waterloo, ON:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| King Street Towers | 6 Bedroom/ 5 Bath Tower 2 | 6BR,5BA | $750 |
| Spring Village | 1 Bedroom Shared Accommodation | 1BR,1BA | $785 |
| Preston House | 5 Bedroom, 5 Bath | 5BR,5BA | $1,150 |
| Beechwood Apartments | 1 Bed, 1 bath | 1BR,1BA | $1,350 |
| Avenue Apartments | Studio, 1 Bathroom | Studio,1BA | $1,475 |
| 200 Shakespeare Drive | 0 Bedroom, 1 Bathroom | Studio,1BA | $1,520 |
| 275 Larch St | 498 | 1BR,1BA | $1,625 |
| Beacon Tower | One Bedroom | 1BR,1BA | $1,675 |
| 45 Caroline St N | One Bedroom Apartment | 1BR,1BA | $1,699 |
| Richmond Square | 1 Bedroom(s) and 1 Bathroom(s) | 1BR,1BA | $1,705 |
Best Value Apartments for Rent in Waterloo University, ON
As of June 14, 2026 the best value apartment in the Waterloo University area is the $2.25 price per square foot The Mckenzie - 2 Bed + Den Model at The Barrel Yards in the in the Waterloo North West neighborhood starting from $3,030. The second greatest value Waterloo University apartment is the 5 Bedroom/ 5 Bath Tower 1 Model at King Street Towers starting at $1,100 with a $0.85 price per square foot in the Waterloo North East neighborhood. Here is today’s list of the best values for Waterloo University apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| The Barrel Yards | The Mckenzie - 2 Bed + Den | 2BR,2BA | $2.25 |
| King Street Towers | 5 Bedroom/ 5 Bath Tower 1 | 5BR,5BA | $0.85 |
| Preston House | 5 Bedroom, 5 Bath | 5BR,5BA | $1.14 |
| Bridgeport House | 5 Bedroom, 5 Bath | 5BR,5BA | $0.70 |
| 383 Albert St | Two Bedroom Apartment | 2BR,1BA | $2.08 |
| Beacon Tower | One Bedroom | 1BR,1BA | $1.97 |
| Waterloo Heights Apartments & Townhomes | Rent only One bedroom | 1BR,1BA | $2.30 |
| Richmond Square | 1 Bedroom(s) and 1 Bathroom(s) | 1BR,1BA | $2.08 |
| 45 Caroline St N | One Bedroom Apartment | 1BR,1BA | $2.23 |
| Beechwood Apartments | 1 Bed, 1 bath | 1BR,1BA | $1.83 |
Frequently Asked Questions about Cheap Waterloo University Apartments
What is the price of a cheap apartment in Waterloo University?
The cheapest apartment in Waterloo University is Spring Village which is listed at $785, while the average apartment in Waterloo University costs $2,394.
What types of apartments are the cheapest in Waterloo University?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 37 regular apartments in Waterloo University that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Waterloo University?
Cheap apartments in Waterloo University have an average cost of $1,342 which is $1,052 cheaper than the average rent for all rentals in Waterloo University.
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
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.