379 Erb St. W
WaterlooONN2L 1W7
Cheap Apartments for Rent in the Waterloo University Neighborhood of Waterloo, ON from C$500 (23 Rentals)
Search the lowest-cost Apartments available for rent right now in the Waterloo University area of Waterloo.
104-104 Lester St
WaterlooONN2L 0C2
405-405 Lester St
WaterlooONN2L 3W6
504-504 Lester St
WaterlooONN2L 3W6
202-202 Lester St
WaterlooONN2L 3W4
303-303 Lester St
WaterlooONN2L 0C1
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.
304-304 Lester St
WaterlooONN2L 3W6
606-606 Lester St
WaterlooONN2L 3W6
close
View Me
from C$7303 to 6 Bedroom Apartments Available Now
King Street Towers
333-339 King St NWaterloo, ON N2J 0C5
261 Lester St
WaterlooONN2L 3W6
253 Lester St
WaterlooONN2L 3W6
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.
204-204 Lester St
WaterlooONN2L 3W4
604-604 Lester St
WaterlooONN2L 3W6
185 King St N
WaterlooONN2J 0E1
392 Albert St
WaterlooONN2L 3V1
275 Larch St
WaterlooONN2L 3R2
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
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.
close
View Me
close
View Me
Showing Results 1-23, 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 | C$780 | C$700 | C$995 |
| Waterloo University 1 Bedroom Apartments | C$2,194 | C$850 | C$2,795 |
| Waterloo University 2 Bedroom Apartments | C$2,643 | C$1,360 | C$4,505 |
| Waterloo University 3 Bedroom Apartments | C$3,398 | C$2,050 | C$3,735 |
| Waterloo University 4 Bedroom Apartments | C$2,372 | C$730 | C$4,500 |
| Waterloo University 5 Bedroom Apartments | C$2,807 | C$575 | C$6,125 |
Browse Apartments in this Neighborhood
There are currently 23 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 C$730. 253 Lester St has the second lowest priced unit, which is a Studio apartment currently listed from C$795. 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 | C$730 |
| 253 Lester St | 0 Beds, 2 Baths | Studio,2BA | C$795 |
| Spring Village | 1 Bedroom Shared Accommodation | 1BR,1BA | C$968 |
| Fergus House | 4 Bedroom 4 Bathroom | 4BR,4BA | C$1,350 |
| Hespeler House | 4 Bedroom 4 Bathroom | 4BR,4BA | C$1,375 |
Best Value Apartments for Rent in Waterloo University, ON
As of June 14, 2025 the best value apartment in the Waterloo University area is the C$2.74 price per square foot 2 Bedroom Model at The Onyx in the in the Waterloo North West neighborhood starting from C$3,499. The second greatest value Waterloo University apartment is the 4 Bedroom 4 Bathroom Model at Fergus House starting at C$1,350 with a C$1.37 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 Onyx | 2 Bedroom | 2BR,2BA | C$2.74 |
| Fergus House | 4 Bedroom 4 Bathroom | 4BR,4BA | C$1.37 |
| Oakwood Manor | 2 Bedroom Lower | 2BR,1BA | C$2.42 |
| Hespeler House | 4 Bedroom 4 Bathroom | 4BR,4BA | C$1.49 |
| 383 Albert St | Two Bedroom plus Den | 2BR,1BA | C$2.51 |
| Avenue Apartments | 2 Bedroom(s) and 1 Bathroom(s) | 2BR,1BA | C$2.50 |
| 365 Albert | 1 Bedroom plus Den | 1BR,1BA | C$2.71 |
| The HUB GEOWAVE | 1 Bedroom plus Den | 1BR,1BA | C$2.71 |
| 45 Caroline St N | One Bedroom Apartment | 1BR,1BA | C$2.43 |
| The Carrick | 1 Bedroom + 1 Bath | 1BR,1BA | C$2.51 |
Frequently Asked Questions about Cheap Waterloo University Apartments
What is a cheap apartment in Waterloo University?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Waterloo University is under C$1,849.
What is the price of a cheap apartment in Waterloo University?
The cheapest apartment in Waterloo University is Spring Village which is listed at C$968, while the average apartment in Waterloo University costs C$3,735.
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 26 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 C$2,147 which is C$1,588 cheaper than the average rent for all rentals in Waterloo University.
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.
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
Written by: Cheryl Bowman
A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.
The Art of the Rental Viewing: What to look for during a property tour
Written by: Marie Brown
You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.