Cheap Apartments for Rent in the Waterloo University Neighborhood of Waterloo, ON from $500 (55 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Waterloo University area of Waterloo.

property at 261 Lester St

$750

1 To 5 Bedroom Rentals

Available Now

261 Lester St

WaterlooONN2L 3W6
property at 253 Lester St

$750 - $795

1 To 5 Bedroom Rentals

Available Now

253 Lester St

WaterlooONN2L 3W6
property at 392 Albert St

$740 - $795

1 Bedroom Rentals

Available Now

392 Albert St

WaterlooONN2L 3V1
property at 251 Lester St

$695 - $795

1 To 5 Bedroom Rentals

Available Now

251 Lester St

WaterlooONN2L 3W6
property at 86 University Av W

$863

Total Monthly Price

Total Monthly Price

Base Rent
$863
Total Monthly Price
$863

5 Bedroom, 4 Bath Home for Rent

Available Sep 1

86 University Av W

WaterlooONN2L 3C8

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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 58 Albert St

$1,500

1 Bedroom Rentals

Available Now

58 Albert St

WaterlooONN2L 3S2
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143 Columbia
$583 - $7754 to 5 Bedroom Apartments

143 Columbia

143 Columbia St WWaterloo, ON N2L 3L2
Furnished
  • Smoke Free

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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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Spring Village
$611 - $8681 to 2 Bedroom Apartments

Spring Village

208 Sunview StWaterloo, ON N2L 3V6
Student Housing
  • Smoke Free
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308 Hawthorn St
$675 - $725Studio Apartments

308 Hawthorn St

308 Hawthorn StWaterloo, ON N2L 3N4
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261 Lester St
$750Studio to 1 Bedroom Apartments

261 Lester St

261 Lester StWaterloo, ON N2L 3W6
Student Housing
property at 271 Lester St

$750

5 Bedroom Rentals

Available Aug 1

271 Lester St

WaterlooONN2L 3W6
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Linden Village Inc.
$785 - $9875 Bedroom Apartments

Linden Village Inc.

203 Lester StWaterloo, ON N2L 0B5
Student Housing
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253 Lester St
$795Studio Apartments

253 Lester St

253 Lester StWaterloo, ON N2L 3W6
Student Housing

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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Walnut Village Inc.
$8501 Bedroom Apartments

Walnut Village Inc.

202 Lester StWaterloo, ON N2L 3W4
Student Housing
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251 Lester St
$8951 to 2 Bedroom Apartments

251 Lester St

251 Lester StWaterloo, ON N2L 3W6
Student Housing

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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311 Batavia Pl
$1,150 - $2,1001 to 2 Bedroom Apartments

311 Batavia Pl

311 Batavia PlWaterloo, ON N2L 3W1
Student Housing
  • Utilities Included
  • Smoke Free
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239 Albert St
$1,447 - $2,0641 Bedroom Apartments

239 Albert St

239 Albert StWaterloo, ON N2L 0K5
Furnished
  • Utilities Included
  • Smoke Free

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Showing Results 1-50, Page 1 of 2

Cheapest Available Waterloo University Apartments for Rent

 

The cheapest available apartment rental in the Waterloo University area of Waterloo, ON is a 4 Beds unit found at 143 Columbia priced from $583. Spring Village has the second lowest priced unit, which is a 1 Bed apartment currently listed from $611. Here are the most affordable Waterloo University apartments for rent in Waterloo, ON:

Apartment ListingModel NameBed/BathPriced From
143 ColumbiaLpSt24BR,2BA$583
Spring Village1 Bedroom Shared Accommodation1BR,1BA$611
THE LINQ1 Bedroom plus Dining1BR,1BA$1,452
Avenue ApartmentsStudio, 1 BathroomStudio,1BA$1,475
228 Albert St1 Bedroom plus Dining1BR,1BA$1,495
246 Albert St1 Bedroom plus Dining1BR,1BA$1,510
200 Shakespeare Drive0 Bedroom, 1 BathroomStudio,1BA$1,520
20 University Inc.Signature-22BR,2BA$1,590
275 Larch St4981BR,1BA$1,625
239 Albert St1 Bedroom plus Den1BR,1BA$1,632

Best Value Apartments for Rent in Waterloo University, ON

As of July 30, 2026 the best value apartment in the Waterloo University area is the $1.79 price per square foot 2 Beds, 1.5 baths Model at Beechwood Apartments in the in the Kitchener South West neighborhood starting from $1,995. The second greatest value Waterloo University apartment is the 1 Bedroom plus Den Model at The HUB - 365 Albert starting at $1,707 with a $1.85 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Beechwood Apartments2 Beds, 1.5 baths2BR,1.5BA$1.79
The HUB - 365 Albert1 Bedroom plus Den1BR,1BA$1.85
The HUB GEOWAVE1 Bedroom plus Den1BR,1BA$2.08
250 Lester St2 Bedroom plus Den2BR,1.5BA$2.55
Beacon TowerOne Bedroom1BR,1BA$1.97
Waterloo Heights Apartments & TownhomesSenior - One Bedroom1BR,1BA$2.30
Richmond Square1 Bedroom(s) and 1 Bathroom(s)1BR,1BA$2.08
THE LINQ1 Bedroom plus Den1BR,1BA$2.18
131 University1 Bedroom plus Den1BR,1BA$2.15
20 University Inc.Clubhouse2BR,1BA$2.36

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 $611, while the average apartment in Waterloo University costs $2,340.

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 22 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 $1,310 which is $1,030 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

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

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