The real estate market of Waterloo is vibrant and booming. The city is located in the heart of southwestern Ontario’s greenbelt. The real estate property of Waterloo is leashed with community amenities, making it an extensive urban centre. However, the city has the character and charm of a smaller rural community. Waterloo is home to two of the highest-ranked universities in the country and attracts some of the best and brightest talents from around the globe. Think tanks like the Perimeter Institute of Theoretical Physics, and the Centre for International Governance Innovation. Uptown Waterloo is a thriving urban centre with unique shops, stunning flavoursome restaurants and award-winning architecture.
Average Rental Price by Property Size in Waterloo
The average rental price by property size in Waterloo is witnessing slight ups and downs over the past months. The average rental price in Waterloo for a studio apartment has decreased by 2%, around CAD 1,278. Similarly, the rental price for 2 BHK apartments decreased by 2%, around CAD 2,115. Whereas, the average rental price for 1 BHK apartment witnesses a slight hike of 2% in the average rental price. The rental price of 3 BHK and 4 BHK apartments are relatively higher than apartments with different lower configurations and carpet areas. The 3 BHK flats in Waterloo's rental price start at CAD 2,000 and move up to CAD 3,500. Similarly, the rental price of properties with more than 4 BHK states with CAD 3,700 and moves up to CAD 4,500. The rental price is subject to change depending on the market conditions and valuations.
Top Neighbourhood with Best Rentals in Waterloo
The top neighbourhood along with the best rental in Waterloo is mentioned below:
||Average Rental Price
|King Street North
Furnished & Un-Furnished Rentals in Waterloo
The real estate market of Waterloo features all types of properties with different configurations, carpet areas and furnishing statuses. Refer to the below-mentioned information to know more about the average furnished and unfurnished rentals in Waterloo.
Planning to shift to Waterloo without furniture and not planning to buy them? Waterloo also offers apartments which are fully furnished and ready to move. However, such properties pose a higher rental price compared to unfurnished ones. The average rental price for fully furnished properties ranges from CAD 1,850 for studio apartments to CAD 3,500 and more for properties with different configurations and carpet areas.
Waterloo is in close proximity to Toronto and other prime locations in Canada. The city’s real estate market is booming and to facilitate the mass properties in Waterloo feature all types of properties including the Unfurnished ones. An Individual can find an unfurnished flat for rent in Waterloo at the starting rental rate of CAD 1,885 and ranges up to CAD 2,780 and more.
Rental Average Price History in Waterloo
The average rental price by property size in Waterloo is witnessing a slight decrease in the current period. The property rental price was 2% higher in the past compared to the current rental rate. The current average rent for a studio apartment is around CAD 1,278 and for 2 BHK it is around CAD 2,115. The higher variant with different configurations, carpet areas and furnishing status is relatively higher than the base variants such as studio apartments.
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:
- Maple Hills
- 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.
Frequently Asked Questions (FAQs)
How much is the average monthly rental in Waterloo?
The average monthly rent in Waterloo is around CAD 3,500. However, the average monthly rent in Waterloo is subject to change depending on market conditions and valuations.
What is the average rent for a 2 and 3-bedroom house in Waterloo?
The average rent for a 2 and 3-BHK house in Waterloo is about CAD 2,700. However, the average renting price is subject to change depending on the market valuation and condition.
What is the average space of a rental house in Waterloo?
The average space of a rental house in Waterloo is about 600-700 sq. ft. However, the average space of a rental house in Waterloo is subject to change depending on the availability of the rental units.
Is rental listing in Square Yards brokerage free in Waterloo?
Yes, the rental listing in Square Yards is brokerage-free. For further queries, visit the official website of Square Yards.
How frequently can a landlord raise the rent in Waterloo?
According to the official documentation, the maximum surge in rent made by landlords is about 1.2% (rent control). However, the rent can only be increased once a year and the landlord must provide the tenant a written notice 90 days prior to the day of effect.
Can I rent a property for 1 year in Waterloo?
Yes, it is possible to rent a property for a year in Waterloo. For further detail on rental properties in Waterloo, visit the official website of Square Yards.
How much does a condo rent cost in Waterloo?
The average rental cost of a condo in Waterloo is about CAD 2,500. However, the rental cost is subject to change depending on the market conditions and valuations.