Waterfall and mill in Waterloo Park
Colorful storefronts in Downtown Waterloo
Sunset on a lake in Waterloo

Waterloo, ON

Area Guide

Where innovation and chill vibes meet

Waterloo feels like a city that runs at a fast pace but still makes time for easy mornings with a fresh cup of coffee and leafy strolls. Tucked in Ontario’s Tri-Cities region, it blends campus buzz, startup energy, and a surprisingly chill pace.

Locals spend their weekends at Waterloo Park, where trails wrap around a small lake and playgrounds echo with laughter. Uptown’s walkable blocks are dotted with indie cafés, bookstores, and bakeries, while the ION light rail makes it easy to hop between errands and adventures without needing a car.

You will find a range of apartment communities that suit every pace—whether it’s a modern mid-rise near University Avenue, a townhouse along a quiet cul-de-sac, or a bright loft just steps from shopping. Many communities are designed with walkability and access in mind, offering quick routes to dining spots, green spaces, and daily necessities.

With both the University of Waterloo and Wilfrid Laurier University in town, there's a constant hum of curiosity and culture. The city comes alive in August with the Busker Carnival, where street performers turn Uptown into a spontaneous festival. And when fall rolls in, Oktoberfest spills over from next-door Kitchener, filling Waterloo with parades, polka, and bratwurst. It’s a place where community and creativity go hand in hand—and you can feel right at home.

Explore the City

Waterfall and mill in Waterloo Park

Colorful storefronts in Downtown Waterloo

Sunset on a lake in Waterloo

Rent Trends

As of May 2026, the average apartment rent in Waterloo, ON is $1,439 for a studio, $1,927 for one bedroom, $2,356 for two bedrooms, and $2,560 for three bedrooms. Apartment rent in Waterloo has decreased by -1.2% in the past year.

Property Type
Average Rent
Average Sq Ft
Apartment
$1,927/month
626 Sq Ft
House
$2,357/month
72 Sq Ft
Condo
$1,826/month
621 Sq Ft
Townhome
$2,149/month
372 Sq Ft
See Rental Market Trends in Waterloo, ON

Getting Around

Fairly Walkable

Walkability

40 / 100

Strong Public Transit

Transit

80 / 100

Exceptionally Drivable

Drivability

90 / 100

Very Bikeable

Bikeability

80 / 100

Schools

Points of Interest

Top Apartments in Waterloo

Houses for Rent in Waterloo

Search Nearby Rentals

Methodology

† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.