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Houses for Rent in Waterloo, ON

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Discover an array of houses for rent in Waterloo on Square Yards Canada. Our comprehensive Waterloo rental listings cater to different needs, offering properties such as freeholds, condos, and townhouses. If you want to filter out your research for a less time-consuming process, our page gives you the option to choose your preferences. You can filter by price range, property size, number of bedrooms and bathrooms, and amenities like gyms and visitor parking. Explore the latest rental MLS listings in Waterloo to find your ideal rental house. Start your search today and uncover the best homes for rent in Waterloo.


Last Updated: February 07, 2025
  • New Listings
  • Price(Lo-Hi)
  • Price(Hi-Lo)
  • Bedrooms(Hi-Lo)
  • Bathrooms(Hi-Lo)
  • Square Feet(Lo-Hi)
  • Square Feet(Hi-Lo)
6 Photos
Last Updated : 5 Hours ago
688 Hespeler Road, Waterloo, ON , MLS #40696249 , Image - 1
Image With Blur overlay

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Unit-2A, 688 Hespeler Road Cambridge, Waterloo, ON MLS® 40696249

Commercial Lease (Office,Building Only)

Price On Request
  • 871 sq-ft
Professionally manages mixed use property with second floor office space available. Elevator access! Flexible size ranges and pricing. All amenities n
24 Photos
Last Updated : 5 Hours ago
168 Winston Boulevard, Waterloo, ON , MLS #40695822 , Image - 1

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168 Winston Boulevard Cambridge, Waterloo, ON MLS® 40695822

Residential Lease (Single Family Residence)

$2500
  • 3 Beds
  • 1 Baths
  • 1650 sq-ft
Welcome to 168 Winton Main Level Unit! Immerse yourself in this unit 3-bedroom bungalow, nestled in the highly coveted neighborhood of Hespeler. This
32 Photos
Last Updated : 5 Hours ago
5 Wellington Street S, Waterloo, ON , MLS #40691804 , Image - 1

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Unit-1103, 5 Wellington Street S Kitchener, Waterloo, ON MLS® 40691804

Residential Lease (Condo/Apartment Unit)

$1900
  • 1 Beds
  • 1 Baths
  • 505 sq-ft
Live in Waterloo Region's newest development, Union Towers at Station Park. Beautifully upgraded 1 bedroom, 1 bathroom unit withlocker. Upgraded kitch
39 Photos
Last Updated : 5 Hours ago
5 Wellington Street S, Waterloo, ON , MLS #40692812 , Image - 1

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Unit-514, 5 Wellington Street S Kitchener, Waterloo, ON MLS® 40692812

Residential Lease (Condo/Apartment Unit)

$2150
  • 1 Beds
  • 1 Baths
  • 650 sq-ft
Exceptional East facing unit without any obstructions, this spacious & upgraded 1 BED + DEN unit features carpet free living and upgraded finishes, Po
17 Photos
Last Updated : 5 Hours ago
30 Avalon Place, Waterloo, ON , MLS #40694007 , Image - 1

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Unit-108, 30 Avalon Place Kitchener, Waterloo, ON MLS® 40694007

Residential Lease (Condo/Apartment Unit)

$2200
  • 2 Beds
  • 1 Baths
  • 793 sq-ft
Nestled in the heart of Forest Hill, this beautifully maintained 2-bedroom, 1-bathroom ground-floor condo offers a perfect blend of comfort and conven
43 Photos
Last Updated : 5 Hours ago
5 Wellington Street S, Waterloo, ON , MLS #40688532 , Image - 1

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Unit-206, 5 Wellington Street S Kitchener, Waterloo, ON MLS® 40688532

Residential Lease (Condo/Apartment Unit)

$1800
  • 1 Beds
  • 1 Baths
  • 495 sq-ft
Live in Waterloo Region's Premiere Development, Union Towers at Station Park. Beautifully upgraded 1 bedroom, 1 bathroom unit. Upgraded kitchen with s
20 Photos
Last Updated : 5 Hours ago
133 Park Street, Waterloo, ON , MLS #40688810 , Image - 1

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Unit-201, 133 Park Street Waterloo, ON MLS® 40688810

Residential Lease (Condo/Apartment Unit)

$1940
price drop iconReduced by 2.8%
  • 1 Beds
  • 1 Baths
  • 640 sq-ft
Welcome to 133 Park Street! Situated right in the heart of Waterloo close to all amenities. Perfect for the professional tenant who is looking for a b
42 Photos
Last Updated : 5 Hours ago
15 Wellington Street S, Waterloo, ON , MLS #40684919 , Image - 1

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Unit-1904, 15 Wellington Street S Kitchener, Waterloo, ON MLS® 40684919

Residential Lease (Condo/Apartment Unit)

$2000
  • 1 Beds
  • 1 Baths
  • 608 sq-ft
This beautiful one bedroom plus den unit is available for January 6th lease! Bell Internet, Heat and A/C are included in the lease as well! This unit
32 Photos
Last Updated : 5 Hours ago
50 Grand Avenue S, Waterloo, ON , MLS #40687094 , Image - 1

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Unit-1907, 50 Grand Avenue S Cambridge, Waterloo, ON MLS® 40687094

Residential Lease (Condo/Apartment Unit)

$2995
  • 2 Beds
  • 2 Baths
  • 1035 sq-ft
2 PARKING SPOTS INCLUDED! Gaslight District Condos, one of the newest buildings in Cambridge. Check out the views from the 19th floor. Steps away from
32 Photos
Last Updated : 5 Hours ago
508 Riverbend Drive, Waterloo, ON , MLS #40635608 , Image - 1

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Unit-LC1, 508 Riverbend Drive Kitchener, Waterloo, ON MLS® 40635608

Commercial Lease (Office,Building Only)

Price On Request
  • 7031 sq-ft
The office space at 508 Riverbend Drive in Kitchener is 7,000+ square feet and offers a range of impressive features, climate-controlled LAN Room with
32 Photos
Last Updated : 6 Hours ago
53 Duckworth Road, Waterloo, ON , MLS #40696048 , Image - 1

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53 Duckworth Road Cambridge, Waterloo, ON MLS® 40696048

Residential Lease (Single Family Residence)

$3450
  • 4 Beds
  • 3 Baths
  • 2095 sq-ft
Available for April 01 possession. 53 Duckworth Street is located in the highly desired Preston Heights neighborhood in Cambridge. Very convenient loc
38 Photos
Last Updated : 6 Hours ago
249 Wesley Boulevard, Waterloo, ON , MLS #40696223 , Image - 1

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249 Wesley Boulevard Cambridge, Waterloo, ON MLS® 40696223

Residential Lease (Single Family Residence)

$3099
  • 4 Beds
  • 4 Baths
  • 1904 sq-ft
Welcome to 249 WESLEY BLVD. Cambridge Ontario. !!! EXTENSIVE UPGRADES. 9 FOOT CEILING ON ALL THE THREE FLOORS. 4 Spacious Bedrooms. 3 Full Bathrooms o
18 Photos
Last Updated : 7 Hours ago
60 Frederick Street, Waterloo, ON , MLS #40696932 , Image - 1

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60 Frederick Street Kitchener, Waterloo, ON MLS® 40696932

Residential Lease (Condo/Apartment Unit)

$2100
  • 2 Beds
  • 2 Baths
  • 700 sq-ft
2 Bedroom + 2 Bathroom Beautiful Condo on 35th floor available for lease starting March 1st.Open-concept features high ceilings and oversized floor-to
42 Photos
Last Updated : 7 Hours ago
1101 Lackner Place, Waterloo, ON , MLS #40692308 , Image - 1

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Unit-413, 1101 Lackner Place Kitchener, Waterloo, ON MLS® 40692308

Residential Lease (Condo/Apartment Unit)

$2200
price drop iconReduced by 4.3%
  • 1 Beds
  • 1 Baths
  • 740 sq-ft
Welcome to this lovely large ONE bedroom plus DEN luxury condo at Lackner Ridge! The neighborhood offers tranquility while offering easy access to all
Open House : Sat Feb 08, 03:00 AM to 05:00 PM
50 Photos
Last Updated : 7 Hours ago
255 Northfield Drive E, Waterloo, ON , MLS #40683734 , Image - 1

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Unit-305, 255 Northfield Drive E Waterloo, ON MLS® 40683734

Residential Lease (Condo/Apartment Unit)

$2400
  • 2 Beds
  • 2 Baths
  • 801 sq-ft
50 Photos
Last Updated : 7 Hours ago
135 Eva Drive, Waterloo, ON , MLS #40696402 , Image - 1

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135 Eva Drive Woolwich, Waterloo, ON MLS® 40696402

Residential Lease (Single Family Residence)

$3400
  • 4 Beds
  • 3 Baths
  • 2000 sq-ft
WELCOME TO 135 EVA DRIVE! TWO YEAR'S NEW STUNNING 4 BEDROOMS HOME SITUATED IN BRESLAU! MAIN FLOOR FEATURES: SPACIOUS FOYER, BEAUTIFUL OPEN CONCEPT LAY
25 Photos
Last Updated : 14 Hours ago
50 Bryan Court, Waterloo, ON , MLS #40695122 , Image - 1

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Unit-211, 50 Bryan Court Kitchener, Waterloo, ON MLS® 40695122

Residential Lease (Condo/Apartment Unit)

$2250
  • 2 Beds
  • 2 Baths
  • 869 sq-ft
Bright open concept 2 bedroom 2 bathroom condo located on the 2nd floor of a recently built (2016) condominium biulding. This gorgeous unit is carpet
17 Photos
Last Updated : 15 Hours ago
60 Frederick St, Waterloo, Ontario , MLS #X11960864 , Image - 1

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60 Frederick St
Unit-3502, 60 Frederick St Kitchener, Waterloo, ON MLS® X11960864

Condo (Condo Apartment)

$2100.0
  • 2 Beds
  • 2 Baths
  • 600-699 sq-ft
2 Bedroom + 2 Bathroom Beautiful Condo on 35th floor available for lease starting March 1st.Open-concept features high ceilings and oversized floor-to
10 Photos
Last Updated : 15 Hours ago
741 King Street W, Waterloo, ON , MLS #40684498 , Image - 1

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Unit-212, 741 King Street W Kitchener, Waterloo, ON MLS® 40684498

Residential Lease (Condo/Apartment Unit)

$1850
price drop iconReduced by 2.6%
  • 1 Baths
  • 537 sq-ft
Welcome to this beautiful Studio- Condo which is located close to the downtown. This is an Open concept style property with upgraded kitchen and appli
30 Photos
Last Updated : 15 Hours ago
60 Charles Street W, Waterloo, ON , MLS #40696844 , Image - 1

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Unit-409, 60 Charles Street W Kitchener, Waterloo, ON MLS® 40696844

Residential Lease (Condo/Apartment Unit)

$1995
  • 1 Beds
  • 1 Baths
  • 679 sq-ft
This podium Suite is facing South West and your private balcony overlooks the iconic Victoria Park clock tower. Live in the heart of downtown Kitchene
12 Photos
Last Updated : 15 Hours ago
392 Albert Street, Waterloo, ON , MLS #40683757 , Image - 1

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Unit-302, 392 Albert Street Waterloo, ON MLS® 40683757

Residential Lease (Condo/Apartment Unit)

$880
price drop iconReduced by 2.2%
  • 5 Beds
  • 5 Baths
  • 1656 sq-ft
Student rental property Sublease - 5 Rooms from May 1 - August 31, 2025. Good Location and steps to UW and WLU. Approximately 1656 sqft, 5 bedrooms wi
20 Photos
Last Updated : 16 Hours ago
102 Elmbank. Trail, Waterloo, ON , MLS #40682996 , Image - 1

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Unit-B, 102 Elmbank. Trail Kitchener, Waterloo, ON MLS® 40682996

Residential Lease (Single Family Residence)

$1890
price drop iconReduced by 4.3%
  • 2 Beds
  • 1 Baths
  • 750 sq-ft
FOR LEASE- $1975 PER MONTH LOWER UNIT - Young professionals or small family attention. Beautiful 2 bedrooms, one 4-pc bath, basement apartment with se
24 Photos
Last Updated : 16 Hours ago
75 Huron Street, Waterloo, ON , MLS #40650713 , Image - 1

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Unit-303, 75 Huron Street Wilmot, Waterloo, ON MLS® 40650713

Residential Lease (Condo/Apartment Unit)

$2200
  • 1 Beds
  • 1 Baths
  • 742.62 sq-ft
27 Photos
Last Updated : 16 Hours ago
75 Huron Street, Waterloo, ON , MLS #40652662 , Image - 1

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Unit-301, 75 Huron Street Wilmot, Waterloo, ON MLS® 40652662

Residential Lease (Condo/Apartment Unit)

$2370
  • 2 Beds
  • 1 Baths
  • 809.72 sq-ft
17 Photos
Last Updated : 16 Hours ago
15 Stauffer Woods Tr, Waterloo, Ontario , MLS #X11961280 , Image - 1

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15 Stauffer Woods Tr
Unit-41, 15 Stauffer Woods Tr Kitchener, Waterloo, ON MLS® X11961280

Condo (Condo Townhouse)

$2600.0
  • 3 +1 Beds
  • 3 Baths
  • 1600-1799 sq-ft
WELCOEM TO BRAND NEW LUXURY 3+1 BEDROOM & 2 FULL BATHROOM STACKED TOWNHOUSE OFFERING COMFORTABLE LIVING & MODERN AMENITIES. THIS BEAUTIFUL PROPERTY L
13 Photos
Last Updated : 16 Hours ago
3 Riverside Drive W, Waterloo, ON , MLS #40692137 , Image - 1

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Unit-5, 3 Riverside Drive W Woolwich, Waterloo, ON MLS® 40692137

Residential Lease (Condo/Apartment Unit)

$2300
  • 3 Beds
  • 1 Baths
  • 950 sq-ft
Small town charm and located in the heart of Elmira. Don't miss out on this great 3 bed apartment in a newer attractive building, located close to do
23 Photos
Last Updated : 16 Hours ago
202 Buttercup Court, Waterloo, ON , MLS #40694651 , Image - 1

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202 Buttercup Court Waterloo, ON MLS® 40694651

Residential Lease (Single Family Residence)

$2990
price drop iconReduced by 3.5%
  • 3 Beds
  • 3 Baths
  • 1595 sq-ft
39 Photos
Last Updated : 16 Hours ago
158 Rivertrail Avenue, Waterloo, ON , MLS #40696661 , Image - 1

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158 Rivertrail Avenue Kitchener, Waterloo, ON MLS® 40696661

Residential Lease (Single Family Residence)

$3200
  • 4 Beds
  • 3 Baths
  • 2091 sq-ft
FOR LEASE! Welcome to 158 Rivertrail Ave. Entering into the open concept main floor, the kitchen is open with white cabinetry, stainless steel applian
11 Photos
Last Updated : 16 Hours ago
12 Westmount Road W, Waterloo, ON , MLS #40696828 , Image - 1

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Unit-6, 12 Westmount Road W Kitchener, Waterloo, ON MLS® 40696828

Residential Lease (Condo/Apartment Unit)

$1649
  • 1 Beds
  • 1 Baths
  • 650 sq-ft
Nice 1 Bedroom Unit 06 is available immediately on first floor with balcony in well maintained 16 unit building in Kitchener. It is only 1649 and all
11 Photos
Last Updated : 17 Hours ago
160 Rochefort Street, Waterloo, ON , MLS #40696676 , Image - 1

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Unit-B12, 160 Rochefort Street Kitchener, Waterloo, ON MLS® 40696676

Residential Lease (Row/Townhouse)

$2200
  • 2 Beds
  • 2 Baths
  • 993 sq-ft
WELCOME TO 160 ROCHEFORT STREET, UNIT B12 IN KITCHENER! This beautiful condo features over 950 square feet of care-free living, 2 bedrooms, and 2 bath
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Property for Lease in Waterloo Overview

Waterloo Real Estate For Rent

As of November 2024, the rental market in Waterloo, Ontario, is defined by high demand and low vacancy rates, driven by the city's thriving tech industry and the presence of two major universities. The median rent across all property types and bedroom counts is approximately $2,100 per month, reflecting an 8% decrease compared to the previous year. Studio apartments rent for around $1,422 per month, while one-bedroom units average $1,921, two-bedroom units $2,224, and three-bedroom units $2,648. Downtown Waterloo's average rent is $1,835, a notable 17% decrease from the previous year, while Uptown Waterloo commands higher rents due to its premium location and high occupancy rates.

 

Despite the overall decline in rent, affordability remains a challenge, with less than 5% of rental units accessible to those in the lowest income quintile. The vacancy rate for purpose-built rentals is at a historic low, underscoring the tight conditions of the rental market. Renters face competitive conditions, particularly in desirable neighbourhoods like Uptown Waterloo, as non-shelter inflation continues to limit purchasing power.

 

Average Rental Price by Property Size in Waterloo

Average rental price in Waterloo by property size has witnessed slight ups and downs over the past months. The average rental price in Waterloo for a studio apartment has decreased by 13% from last year. Similarly, the rental price for a 1 BHK apartment decreased by 2% and 8% for a 2 BHK. Meanwhile, the average rental price for 3 BHK apartments saw a slight dip of 1%. The rental price of 4 BHK apartments is lower by 38%. Below are the average rental prices for each property size:

Property Size

Average Rent

1 Bedroom

$1,841

2 Bedroom

$2,364

3 Bedroom

$2,671

4 Bedroom

$1,521

Studio

$1,086

 

Top Neighbourhood with Best Rentals in Waterloo

The top neighbourhood, along with the best rental in Waterloo, is mentioned below:

 

Lincoln Heights: Situated just west of the Conestoga Parkway, Lincoln Heights provides excellent highway access, making it ideal for commuters. This residential area features older, detached homes and community amenities like the Moses Springer Community Centre and several parks.

 

Eastbridge: Located in northeastern Waterloo, Eastbridge is known for its proximity to the ION light rail, offering rapid transit options for residents. The neighbourhood boasts modern housing and is well-connected to the city's public transportation network.

 

Uptown Waterloo: This vibrant urban centre features a mix of residential and commercial properties. Residents enjoy access to shopping, dining, and entertainment venues, and higher occupancy rates reflect its desirability.

 

Beechwood: Known for its suburban charm, Beechwood offers a family-friendly environment with access to quality schools and recreational facilities. The neighbourhood provides a tranquil setting while remaining close to urban amenities.


Columbia Forest: This neighbourhood is popular among families and professionals. It offers a range of rental properties and access to parks and trails. Its community-oriented atmosphere makes it a sought-after area for renters.

 

Rental Average Price History in Waterloo

As of December 2024, the average apartment rent in Waterloo was C$1,921 per month, a 2.9% rise from last year. Rental costs differ by unit type: one-bedroom apartments average C$1,814, two-bedrooms are around C$2,374, and three-bedrooms reach approximately C$2,648. Houses typically cost more, with an average monthly rent of C$2,539.

 

Over the last decade, rental prices have steadily climbed. A two-bedroom unit, for instance, was C$951 in October 2013 but reached C$1,637 by October 2023. This upward trend is driven by factors like population growth, economic expansion, and limited housing supply, reflecting a robust demand for rentals in the city. Staying updated on these dynamics is vital for anyone navigating Waterloo’s rental market.

 

Best Areas / Communities for Rental Properties in Waterloo

Check out the below-mentioned localities to know more about the best areas for rental properties in Waterloo:

  • Laurelwood
  • Laurier
  • Beechwood
  • Westmount
  • Maple Hills
  • Westvale
  • Rummelhardy
  • Lakeshore Village

Pet-Friendly Rental Homes Options in Waterloo

Waterloo is an awe-inspiring architectural city which welcomes all types of tenants and homebuyers with different budgets and preferences. Talking about preferences, it is salient to get a better understanding of if the property you are planning to rent out is a pet-friendly space or not. However, most of the rental properties in Waterloo are pet friendly and help to stay with your most precious companion hassle-free. It is recommended to do prior research to avoid complications at the moment of your shift.

 

Rental Demographics

The population of Waterloo was recorded at 121,435 in 202, with an average age of 39.2. Notably, individuals aged 15 to 24 constitute the largest age group, comprising 18.4% of residents. The presence of universities significantly influences this youthful demographic, contributing to a substantial student-renter population.

 

In terms of household composition, Waterloo has 47,040 households, with an average size of 2.5 persons. Approximately 38.7% of these households are renter-occupied, indicating a considerable demand for rental accommodations.

 

The data below shows the renter household incomes via family type from their average and median household income to average rent and utilities:

 

Family Type 

Average Renter Household Income

Median Renter Household Income

Average Household Rent and Utilities

Couple with Kids

CAD 71,622

CAD 67,268

CAD 1,127

Couple Without Kids 

CAD 64,452

CAD 58,311

CAD 937

Male Singles with Kids

CAD 40,036

CAD 37,588

CAD 1,129

Female Single with Kids

CAD 34,758

CAD 32,810

CAD 1,020

 

The table below consists of information regarding the number of renter households by Indigenous identity, from their average and median household income to average rent and utilities:

 

Indigenous Type

Average Renter Household Income

Median Renter Household Income

Average Household Rent and Utilities

Indigenous

CAD 60,437

CAD 43,299

CAD 1,119

Non - Indigenous

CAD 53,956

CAD 43,272

CAD 1,148

...

Frequently Asked Questions (FAQs)

As of November 2024, the average monthly rent for an apartment in Waterloo, Ontario, was approximately $2,060. One-bedroom apartments average around $1,814 per month, while two-bedroom units are about $2,374. Rental houses tend to be more expensive, with an average monthly cost of $2,539.

To rent a property in Waterloo, tenants need proof of identity (e.g., driver’s license or passport), proof of income (pay stubs or bank statements), a credit report, a completed rental application, and references from previous landlords or personal contacts.

In Waterloo, the average monthly rent for a two-bedroom house is approximately $2,374, while a three-bedroom house averages around $2,648 per month.

In Waterloo, Ontario, the average sizes of rental properties vary by type: studio apartments are approximately 392 square feet, one-bedroom apartments around 552 square feet, two-bedroom apartments about 863 square feet, and three-bedroom apartments approximately 1,110 square feet. These averages may vary depending on specific properties and locations.

Yes, the rental listing in Square Yards is brokerage-free. For further queries, visit the official website of Square Yards.

In Ontario, landlords can increase the rent once every 12 months, provided they give tenants at least 90 days’ written notice. The allowable rent increase is subject to provincial guidelines set annually.

Yes, renting a property for a one-year term is common in Waterloo. Lease agreements often specify a fixed term, such as one year, after which they may transition to a month-to-month arrangement or be renewed for another fixed term, depending on the agreement between the landlord and tenant.

Waterloo offers a variety of rental options, including studio apartments, one-bedroom apartments, two-bedroom apartments, three-bedroom apartments, townhouses, and detached houses.

As of November 2024, the average monthly rent for a condo in Waterloo is approximately $1,950.

Rental prices for townhouses in Waterloo vary based on factors such as size, location, and amenities. For instance, a three-bedroom townhouse can cost between $2,500 and over $3,000 per month.

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