What is the average rent for a 1-bedroom apartment in Downtown Waterloo, Waterloo, ON?

One-bedroom apartments in Downtown Waterloo average around $1,900 per month in 2025. These units remained relatively stable compared to the previous year, averaging about 548 sqft in size.

What is the average rent for a 2-bedroom apartment in Downtown Waterloo, Waterloo, ON?

Two-bedroom apartments in Downtown Waterloo rent for around $2,200 per month in 2025, down 11.9% from the previous year. These units average about 692 sqft in size.

What is the average rent for a 3-bedroom apartment in Downtown Waterloo, Waterloo, ON?

Three-bedroom apartments in Downtown Waterloo average around $2,600 per month in 2025, climbing 54.3% from the previous year. These larger units average about 847 sqft in size.

How much does it cost to rent an apartment in Downtown Waterloo, Waterloo, ON?

Downtown Waterloo's rental market averaged around $1,900 per month across all property types in 2025, down 9.9% from 2024. Rent varies by timing, with September seeing the highest prices about 18% higher than January rates.

What is the average apartment size in Downtown Waterloo, Waterloo, ON?

Apartments in Downtown Waterloo average around 580 sqft across all unit types. Size varies by bedroom count, with studios at 112 sqft and three-bedrooms reaching 847 sqft.

What type of apartment is most common in Downtown Waterloo, Waterloo, ON?

One-bedroom apartments are the most common rental type in Downtown Waterloo, with about 82 listings available monthly. Two-bedroom units follow with approximately 58 listings per month.

What type of apartment is least common in Downtown Waterloo, Waterloo, ON?

Three-bedroom apartments have the fewest listings in Downtown Waterloo, with about 7 available monthly. Studios are also limited, averaging approximately 12 listings per month.

Cheap Apartments for Rent in Downtown Waterloo, Waterloo, ON

34 rentals available

MUST APPLY AT UWCORNER. COM - Photo 1 of 1

15h ago

9.4

Excellent

MUST APPLY AT UWCORNER. COM

113 Westmount Road North, Waterloo, ON N2L 5G5

Affordable | In-unit laundry | Garage parking

1 bed

1 bath

$500

Apartment for rent

Available Dec 1

Top amenities

Air Conditioning

Concierge Service

Dry Cleaning Service

Furnished

Package Service

Storage

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Dishwasher

1 bed

1 bath

$550

Apartment for rent

Available May 1

Top amenities

Air Conditioning

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Dishwasher

1 bed

1 bath

$550

Apartment for rent

Available May 1

Top amenities

Furnished

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Dishwasher

1 bed

1 bath

$550

Apartment for rent

Available May 1

Top amenities

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Dishwasher

5 beds

2 baths

$675

Apartment for rent

Available May 1

Top amenities

Furnished

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Dishwasher

5 beds

2 baths

$675

Apartment for rent

Available May 1

Top amenities

Furnished

On-Site Laundry

Nearby rental good for eco-living

$1,520–$2,365

Beechwood

Nearby rental good for pet owners

$699

167 Westcourt Place

5d+ ago

9.3

Excellent

APPLY AT UWCORNER. COM

167 Westcourt Place, Waterloo, ON N2L 2R7

Affordable | In-unit laundry | Assigned parking

1 bed

1 bath

$699

Apartment for rent

Available May 8

Top amenities

Air Conditioning

Assigned Parking

Fireplace

In-Unit Laundry

Storage

Swimming Pool

5d+ ago

9.4

Excellent

APPLY AT UWCORNER. COM

200 University Avenue West, Waterloo, ON N2L 3G1

Affordable | In-unit laundry | Garage parking

1 bed

1 bath

$699

Apartment for rent

Available May 8

Top amenities

Air Conditioning

Door Person

In-Unit Laundry

On-Site Laundry

Package Service

Roof Deck

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5d+ ago

9.4

Excellent

MUST APPLY AT UWCORNER COM

148 Westcourt Place, Waterloo, ON N2L 2R7

Affordable | In-unit laundry | Garage parking

1 bed

1 bath

$699

Apartment for rent

Available May 5

Top amenities

Assigned Parking

Carpet

Controlled Access

In-Unit Laundry

On-Site Laundry

Swimming Pool

271 - 271 Lester Street #4 - Photo 1 of 1

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

LESTER (271) - 302 - Unit 4

271 - 271 Lester Street #4, Waterloo, ON N2L 3W6

Affordable

5 beds

2 baths

$700

Apartment for rent

Available May 1

Find sweet deals in Downtown Waterloo

These rentals are 10%-30% cheaper than the local average price for similar rentals.

$1,449–$1,649

154 Erb St E

253 - 253 Lester Street #2 - Photo 1 of 1

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

LESTER ST (253) - 404 - 2

253 - 253 Lester Street #2, Waterloo, ON N2L 3W6

Affordable

5 beds

2 baths

$720

Apartment for rent

Available May 1

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Dishwasher

1 bed

1 bath

$750

Apartment for rent

Available May 4

Top amenities

Furnished

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Dishwasher

5 beds

2 baths

$750

Apartment for rent

Available May 1

Top amenities

Air Conditioning

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Dishwasher

5 beds

2 baths

$750

Apartment for rent

Available May 1

Top amenities

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Dishwasher

5 beds

2 baths

$750

Apartment for rent

Available May 1

Top amenities

Air Conditioning

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Dishwasher

5 beds

2 baths

$750

Apartment for rent

Available May 1

Top amenities

Furnished

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo townhouse for rent in Waterloo

Affordable | In-unit laundry | Assigned parking

5 beds

2 baths

$750

House for rent

Available May 1

Top amenities

Air Conditioning

Dishwasher

Elevator

In-Unit Laundry

On-Site Laundry

On-Site Management

5d+ ago

Cheap Downtown Waterloo townhouse for rent in Waterloo

253 Lester St #1, Waterloo, ON N2L 3W6

Affordable | On-site laundry | Dishwasher

5 beds

2 baths

$750

House for rent

Available May 1

Top amenities

Air Conditioning

Central Heat

Controlled Access

Furnished

On-Site Laundry

On-Site Management

5d+ ago

Cheap Downtown Waterloo townhouse for rent in Waterloo

251 Lester St #251, Waterloo, ON N2L 3W6

Affordable | On-site laundry | Dishwasher

5 beds

2 baths

$750

House for rent

Available May 1

Top amenities

Air Conditioning

Dishwasher

Elevator

Furnished

On-Site Laundry

On-Site Management

253 - 253 Lester Street #3 - Photo 1 of 1

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

253 - 253 Lester Street #3, Waterloo, ON N2L 3W6

Affordable

5 beds

2 baths

$750

Apartment for rent

Available Jun 16

Rent special

8h ago

9.4

Excellent

21 Columbia Street West

21 Columbia St W, Waterloo, ON N2L 3K4

Affordable | On-site laundry | Hardwood floor

1 bed

0 baths

$767

Apartment for rent

Top amenities

Elevator

Fitness Center

Hardwood Floor

On-Site Laundry

Wheelchair Accessible

Rent special

1d ago

9.4

Excellent

345 King Street North

345 King St N, Waterloo, ON N2J 2Z1

Affordable | On-site laundry | Garage parking

1 bed

0 baths

$767

Apartment for rent

Top amenities

Air Conditioning

Furnished

Garage Parking

On-Site Laundry

Storage

Wheelchair Accessible

Rent special

8h ago

9.2

Excellent

1 Columbia Street West

1 Columbia St W, Waterloo, ON N2L 0C8

Affordable | On-site laundry | Dishwasher

1 bed

0 baths

$792

Apartment for rent

Top amenities

Dishwasher

Fitness Center

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

Affordable | On-site laundry | Furnished

5 beds

2 baths

$795

Apartment for rent

Available May 1

Top amenities

On-Site Laundry

[Move-in Today] Last room, right across UW - Must apply at www UWCorner com - Photo 1 of 1

5d+ ago

9.1

Excellent

[Move-in Today] Last room, right across UW - Must apply at www UWCorner com

153 Westcourt Place, Waterloo, ON N2L 2R7

Affordable | In-unit laundry | Garage parking

1 bed

1 bath

$800

Apartment for rent

Available Sep 6

Top amenities

Door Person

Fireplace

Garage Parking

On-Site Laundry

On-Site Management

Swimming Pool

Rent special

8h ago

9.1

Excellent

167 King Street North

167 King St N, Waterloo, ON N2J 0B6

Affordable | On-site laundry | Garage parking

1 bed

0 baths

$842

Apartment for rent

Available Sep 1

Top amenities

Controlled Access

Elevator

Furnished

Garage Parking

On-Site Laundry

On-Site Management

5d+ ago

9.3

Excellent

MUST APPLY AT UWCORNER. COM

155 Westcourt Place, Waterloo, ON N2L 2R7

Affordable | In-unit laundry | Garage parking

2 beds

2 baths

$950

Apartment for rent

Available Oct 1

Top amenities

Carpet

Central Heat

Hardwood Floor

On-Site Laundry

Roof Deck

Storage

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

38 Marshall St ##On, Waterloo, ON N2J 2T4

Affordable | Furnished | Balcony

4 beds

1 bath

$2,000

Apartment for rent

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

3-38 Marshall St

38 Marshall St #3, Waterloo, ON N2J 2T4

Affordable | Garage parking | Furnished

4 beds

1 bath

$2,000

Apartment for rent

Available Sep 1

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

161 Weber St N, Waterloo, ON N2J 3H2

Affordable | On-site laundry | Business center

4 beds

1.5 baths

$2,395

Apartment for rent

Available May 7

Top amenities

On-Site Laundry

5d+ ago

Cheap Downtown Waterloo apartment for rent in Waterloo

30 Hickory St East #207, Waterloo, ON N2J 3H7

Affordable | On-site laundry | Assigned parking

3 beds

1 bath

$2,400

Apartment for rent

Available Aug 30

Top amenities

Assigned Parking

Furnished

Hardwood Floor

On-Site Laundry

Showing 1 - 31 of 31 results

Home > Apartments in Waterloo > Downtown Waterloo > Downtown Waterloo Cheap Apartments For Rent

Updated: June 18, 2026

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