220 Ira Needles Blvd
220 Ira Needles Blvd,
Kitchener, ON N2N 3K6
1-3 Beds | $2,060 - $2,699
Rental Market Trends in Waterloo, ON
Updated September 2026
The average rent in Waterloo, ON is $1,788/month.
$1,788/month
Average Rent
627 Sq Ft
Average Size
-7.5%
Change / Year
1,265
Available Apartments
Waterloo rent varies by unit size and layout:
- Studio apartments in Waterloo average $1,439 per month.
- One-bedroom apartments in Waterloo average $1,788 per month.
- Two-bedroom apartments in Waterloo average $2,284 per month.
- Three-bedroom apartments in Waterloo average $2,557 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Waterloo, ON?
In the past year, rent has decreased by 7.5%, which averages out to $133 less per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in Waterloo, ON
September 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
1%
$700 - $1,000/month
7%
$1,001 - $1,500/month
52%
$1,501 - $2,000/month
40%
Above $2,000/month
Rent by Neighbourhood
What are the most affordable neighbourhoods in Waterloo?
Based on current rent prices, Waterloo North-West, Waterloo University and Waterloo North-East are the most affordable neighbourhoods in Waterloo.
Neighbourhood
Average Rent
Average Sq Ft
What are the most expensive neighbourhoods in Waterloo?
Based on current rent prices, Waterloo Uptown, Waterloo North-East and Waterloo University are the most expensive neighbourhoods in Waterloo.
Neighbourhood
Average Rent
Average Sq Ft
Which Waterloo neighbourhoods have the most rentals available?
The neighbourhoods in Waterloo with the most apartments available are Waterloo University, Waterloo North-West and Waterloo Uptown .
Neighbourhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Waterloo, ON?
Because the average rent in Waterloo is $1,788, you’ll want to make about $5,960 per month or $71,520 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Waterloo, ON compare to other nearby cities and neighbourhoods?
Use the tool below to compare Waterloo, ON to other nearby cities and neighbourhoods. The Apartments.com neighbourhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Waterloo Area GuideStudio
$1,478/month
$1,203/month
One Bedroom
$1,716/month
$1,822/month
Two Bedroom
$2,016/month
$2,209/month
Three Bedroom
$2,593/month
$2,399/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
-
Kitchener
Avg Rent: $1,738/month
-
Breslau
Avg Rent: $2,101/month
-
Woolwich
Avg Rent: $1,819/month
-
Wilmot
Avg Rent: $1,826/month
-
Cambridge
Avg Rent: $1,849/month
-
North Dumfries
Avg Rent: $1,774/month
-
Guelph
Avg Rent: $1,891/month
Apartment Communities in Waterloo We Think You'll Love
Frequently Asked Questions
What is the average rent in Waterloo?
The average rent in Waterloo is $1,788 per month, which is 2.6% higher than the national average of $1,743.
What is the average rent for a house in Waterloo?
The average rent for a house in Waterloo, ON is $2,715 per month.
What is the average rent for a townhome in Waterloo?
The average rent for a townhome in Waterloo, ON is $2,082 per month.
What is the average rent for a condo in Waterloo?
The average rent for a condo in Waterloo, ON is $1,707 per month.
Are rents going up or down in Waterloo?
Rents in Waterloo, ON are decreasing, with prices down 7.5% year-over-year and $133 less per month.
What rent range is most common in Waterloo?
In Waterloo, ON, 52% of apartments fall between $1,501 - $2,000/month, though prices may vary depending on location and other factors.
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.
* Percentages may not total 100 due to rounding.