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$450 - $1,1845 Bedroom Apartments Available Jan 1, 2026
MyRez On Lester - Student Living
181 Lester StWaterloo, ON N2L 3W3
Cheap Apartments for Rent in the Waterloo University Neighborhood of Waterloo, ON from $400 (13 Rentals)
Search the lowest-cost Apartments available for rent right now in the Waterloo University area of Waterloo.
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Rent Specials
$568 - $1,2393 to 6 Bedroom Apartments Available Jan 3, 2026
King Street Towers - Student Living
333-339 King St NWaterloo, ON N2J 0C5
379-379 Erb St. W
WaterlooONN2L 1W7
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Rent Specials
$606 - $6662 Bedroom Apartments Available Jan 2, 2026
308 King
308 King St NWaterloo, ON N2J 0G4
251-251 Lester St
WaterlooONN2L 3W6
271-271 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.
253-253 Lester St
WaterlooONN2L 3W6
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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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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 1 Bedroom Apartments | $2,240 | $575 | $2,695 |
| Waterloo University 2 Bedroom Apartments | $2,469 | $606 | $4,505 |
| Waterloo University 3 Bedroom Apartments | $1,763 | $1,239 | $2,050 |
| Waterloo University 4 Bedroom Apartments | $821 | $596 | $1,239 |
| Waterloo University 5 Bedroom Apartments | $677 | $450 | $1,184 |
Browse Apartments in this Neighborhood
There are currently 13 rentals with your search options within a 2 mile radius of the Waterloo University Neighborhood of Waterloo, ON.
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Cheapest Available Waterloo University Apartments for Rent
The cheapest available apartment rental in the Waterloo University area of Waterloo, ON is a Studio unit found at 261 Lester St 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 |
|---|---|---|---|
| 261 Lester St | 0 Beds, 2 Baths | Studio,2BA | $750 |
| Spring Village | 1 Bedroom Shared Accommodation | 1BR,1BA | $785 |
| 185 King St N | 5 Beds, 5 baths | 5BR,5BA | $949 |
| 383 Albert St | One Bedroom Apartment | 1BR,1BA | $1,799 |
| Richmond Square | 1 Bedroom(s) and 1 Bathroom(s) | 1BR,1BA | $1,825 |
Best Value Apartments for Rent in Waterloo University, ON
As of November 30, 2025 the best value apartment in the Waterloo University area is the $1.51 price per square foot 2 Bedroom, 1 Bathroom Model at Avenue Apartments in the in the Waterloo North East neighborhood starting from $1,935. The second greatest value Waterloo University apartment is the 770 Model at 275 Larch St starting at $2,095 with a $2.72 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. |
|---|---|---|---|
| Avenue Apartments | 2 Bedroom, 1 Bathroom | 2BR,1BA | $1.51 |
| 275 Larch St | 770 | 2BR,2BA | $2.72 |
| THE LINQ | 1 Bedroom plus Den | 1BR,1BA | $2.80 |
| 45 Caroline St N | One Bedroom Apartment | 1BR,1BA | $2.43 |
| The Bevel | Floradora | 1BR,1BA | $2.97 |
| The Barrel Yards | The Spritz | 1BR,1BA | $3.24 |
| The Carrick | 1 Bedroom + 1 Bath | 1BR,1BA | $2.72 |
| Erb Court Apartments | 1 Bedroom | 1BR,1BA | $2.88 |
| Richmond Square | 1 Bedroom(s) and 1 Bathroom(s) | 1BR,1BA | $2.94 |
| 383 Albert St | One Bedroom Apartment | 1BR,1BA | $3.13 |
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 $2,557.
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 1 regular apartments in Waterloo University that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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.
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.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
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.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.