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City in Ontario

Condos for rent in Waterloo

Name: HOMEH Market Pulse — Waterloo closed sales and leases
Creator: HOMEH
License: https://homeh.com/terms-of-use

There are 61 condos and apartments for rent in Waterloo today, with a median rent of $1,999/mo (-11% vs. all rentals in Waterloo). 18 are 1-bedroom condos for rent. The most active neighbourhoods are Beechwood/University, Downtown Waterloo and Uptown Waterloo/North Ward.

community-oriented family-friendly active

121,436 people lived in Waterloo at the 2021 Census, in 46,995 households. 61% of households owned their home and 39% rented. The most common homes were single-detached houses (49%) and apartments in buildings of five or more storeys (22%). 33% of homes were built before 1981, and 17% since 2011. 84% of commuters went to work by car and 6% by public transit.

Population of 121,436

Waterloo, Ontario

Waterloo Condo Rentals

Day to dayLivability

Walkability

out of 100 · averaged over 19,770 past and present listings

Average walk score reported on listings here

6.7

Schools near listings

out of 10 · averaged over 19,770 past and present listings

Fraser Institute ratings within 2 km of each listing, closer schools weighted more

Each score is an average over this area's own listings and is shown only where at least 5 of them carry one. Scores are reported by listing agents, not measured by HOMEH.

What it costsAffordability

Median asking price

$575,000

20% below Ontario

In Waterloo

$575,000

In Ontario

$716,900

Median monthly rent

$2,248/mo

10% below Ontario

In Waterloo

$2,248

In Ontario

$2,499

$626

Per square foot

≈ 21.3 years

Of rent to match the purchase price

On the marketMarket snapshot

For sale

347

Median $575,000

Condos 194 · Houses 153

For rent

144

Median $2,248

Condos 82 · Houses 62

Recently sold

Recently leased

Market data as of 2026-08-16. Sold and leased figures are neighbourhood medians over the last 12 months, published only where at least 5 homes closed — never a single sale.

The honest readPros & cons

What people love

Good variety of amenities and services
Family-friendly with parks and schools
Relatively affordable compared to province median
Active community with many restaurants and cafes

Keep in mind

Prices are above the city average
Limited public transit options

The feel of the placeLifestyle

Daily life in Waterloo offers a balance of urban and suburban feel, with plenty of recreational options. Residents enjoy access to parks, schools, and dining.

Great for first-time buyers families students

Within the boundaryWhat's nearby

The boundary

64.9 km²

Every count and every census figure on this page was measured inside this line — not within a circle drawn around a centre point.

279

Parks

165

Playgrounds

Transit stations

Grocery stores

165

Restaurants

Cafés

Gyms

Libraries

Pharmacies

Counted across all 64.9 km² of Waterloo. From OpenStreetMap, as of 2026-10-12.

The schoolsWhich schools, and how they rate

7.1/10

Average rating of the 31 rated schools in this area

Elementary

Secondary

Abraham Erb Public School
Public · Grades JK–6 · Waterloo Region DSB
9.3/108.9 over 5 yrs
53rd of 3,045 Ontario elementary schools
395 students · EQAO 2024-2025
Laurelwood Public School
Public · Grades JK–8 · Waterloo Region DSB
9.1/109.0 over 5 yrs
77th of 3,045 Ontario elementary schools
705 students · EQAO 2024-2025
Vista Hills Public School
Public · Grades JK–8 · Waterloo Region DSB
9.1/108.2 over 5 yrs
77th of 3,045 Ontario elementary schools
775 students · EQAO 2024-2025
N A MacEachern Public School
Public · Grades JK–6 · Waterloo Region DSB
8.8/107.8 over 5 yrs
118th of 3,045 Ontario elementary schools
260 students · EQAO 2024-2025
Laurel Heights Secondary School
Public · Grades 9–12 · Waterloo Region DSB
8.7/108.2 over 5 yrs
33rd of 742 Ontario secondary schools
1,765 students · EQAO 2024-2025
Millen Woods Public School
Public · Grades JK–6 · Waterloo Region DSB
8.6/108.1 over 5 yrs
150th of 3,045 Ontario elementary schools
275 students · EQAO 2024-2025

Ontario Ministry of Education school registry; ratings from the Fraser Institute report card. These are the schools that stand inside Waterloo, not a catchment — most Ontario boards do not publish attendance boundaries, and we will not draw a line we cannot source. Confirm enrolment with the school board before you buy.

The peopleWho lives here

121,436

Population (2021)

64.1 km²

Area

1,896

People per km²

38.6

Median age

$106,051

Median income

61%

Own their home

2.6

People per household

46,995

Households

Every age

Children (under 15)14.5%
Working age (15–64)70.1%
Seniors (65+)15.4%

What is built here

Detached houses49.3%
Semi-detached4.4%
Townhouses11.4%
Duplexes2.1%
Low-rise apartments10.6%
High-rise apartments22%

Own or rent

61%Owners

39%Renters

Across 46,995 households

When it was built

Mostly 1961–1980

1960 or earlier9%
1961–198023%
1981–199018%
1991–200016%
2001–200510%
2006–20105%
2011–20156%
2016–202111%

Share of occupied homes, by the era they were built in. Bars are drawn against the busiest era, not against each other, because the eras are not the same length. The eight shares are unlikely to total exactly 100: Statistics Canada rounds each era's count to the nearest 5 before publishing it, so we print what the census reports rather than adjusting a figure to make the column add up.

27.5%
Born outside Canada: 43.6%
Hold a degree or higher: 57.7%
Employment rate: 6%
Commute by transit: 83.9%
Commute by car: 1.8
Children per family: $90,684
Median income after tax: $128,301
Average household income: 11.4%
Living on a low income: $1,587/mo
Renters pay, per month: $1,454/mo
Owners pay, per month: $715,738
Median home value at census: 28.4%
Renters spending 30%+ of income on housing: 15.6%
Owners spending 30%+ of income on housing

Statistics Canada, Census of Population 2021. Added up from 155 census areas inside the boundary. Medians and rates are a population-weighted average of dissemination-area figures.

Sources: HOMEH listings, Statistics Canada, Census of Population 2021, OpenStreetMap, HOMEH school registry, Photo: © Wikimedia Commons contributors (CC BY-SA)

HOMEH Market Pulse Condo apartments only Through September 2026 Deep sales history

What Condos Rent For in Waterloo

335 condos were leased in Waterloo over the 12 months to September 2026. Half leased above $1,967 and half below, 3.6% lower than the 12 months before. A typical condo found its tenant in 32 days — 2 days slower than a year ago.

Median rent: $1,967; -3.6% year over year
Days to lease: 32; 2 days slower
Leases closed: 335; last 12 months
Rent per square foot: $2.87/mo; from 309 sized leases

Three years of rents

The line is the median. The band is the middle half of every lease — how wide it runs tells you how much one condo here differs from the next.

$2,645$2,307$1,968$1,630

Oct ’23Dec ’24Oct ’25Sep ’26

Median rent Middle half of leases

What renters actually paid

$2,997/mo

on a $3,000 asking rent — under ask by $3

−10%Asking rent+10%

Of the asking rent: 99.9%
Leased over asking: 9%

From 335 leases that closed here in the last 12 months.

Rent or buy in Waterloo

17.1 years

of rent, at the going rate here, adds up to what a condo here costs.

Median sold price

$404,230

222 sales

Median rent

$1,967/mo

335 leases

Gross rental yield

5.84%

before costs

Both figures come from deals that actually closed in Waterloo over the last 12 months. Gross yield is annual rent divided by price; it does not account for taxes, fees, maintenance, vacancy or financing.

How fast it moves

Median days on market, month by month. Taller means slower.

Oct 2024Sep 2026

Terracotta marks the last 12 months.

Every month behind these charts — Waterloo, rentals

Monthly closed leases in Waterloo
Month	Closed	Median	Middle half	Days	% of ask
Sep 2026	27	$2,000	$1,750 – $2,100	22	100.0%
Aug 2026	55	$1,900	$1,700 – $2,150	27	100.0%
Jul 2026	65	$2,000	$1,750 – $2,250	31	100.0%
Jun 2026	43	$1,900	$1,725 – $2,238	40	100.0%
May 2026	21	$2,000	$1,700 – $2,200	37	100.0%
Apr 2026	26	$1,895	$1,750 – $2,113	30	100.0%
Mar 2026	21	$2,000	$1,850 – $2,200	41	100.0%
Feb 2026	14	$2,048	$1,831 – $2,381	28	99.5%
Jan 2026	13	$2,050	$1,800 – $2,494	34	100.0%
Dec 2025	22	$1,975	$1,800 – $2,250	44	99.0%
Nov 2025	16	$2,073	$1,750 – $2,250	28	100.0%
Oct 2025	12	$1,975	$1,919 – $2,201	21	100.0%
Sep 2025	22	$1,963	$1,813 – $2,150	14	100.0%
Aug 2025	50	$2,075	$1,846 – $2,388	24	100.0%
Jul 2025	54	$2,025	$1,850 – $2,200	29	100.0%
Jun 2025	32	$2,075	$1,800 – $2,250	25	100.0%
May 2025	32	$2,100	$1,819 – $2,213	40	100.0%
Apr 2025	17	$2,000	$1,945 – $2,160	43	100.0%
Mar 2025	20	$1,975	$1,800 – $2,396	36	100.0%
Feb 2025	12	$2,200	$1,925 – $2,494	37	100.0%
Jan 2025	8	$2,050	$1,963 – $2,135	46	100.0%
Dec 2024	18	$1,900	$1,800 – $2,100	30	100.0%
Nov 2024	15	$2,000	$1,850 – $2,150	40	100.0%
Oct 2024	14	$2,125	$2,050 – $2,188	22	100.0%
Sep 2024	42	$2,100	$1,960 – $2,300	60	100.0%
Aug 2024	72	$2,120	$1,950 – $2,400	29	100.0%
Jul 2024	45	$2,000	$1,875 – $2,375	30	100.0%
Jun 2024	33	$1,875	$1,800 – $2,150	52	100.0%
May 2024	32	$2,235	$1,850 – $2,400	41	100.0%
Apr 2024	22	$1,900	$1,713 – $2,135	39	100.0%
Feb 2024	6	$1,925	$1,900 – $1,988	21	100.0%
Nov 2023	8	$2,275	$1,938 – $2,499	24	100.0%
Oct 2023	6	$2,413	$2,231 – $2,575	20	100.0%

What people ask about Waterloo

How much is rent for a condo in Waterloo?

The median condo lease in Waterloo closed at $1,967 a month over the 12 months to September 2026, across 335 leases.

Compiled by HOMEH from leases reported closed in Waterloo on the Toronto Regional Real Estate Board MLS® System, through September 2026. Medians are taken over closed prices, not asking prices. Per-square-foot figures use the midpoint of the banded floor-area range MLS® carries, so they describe the group and not any one condo. Not an appraisal or an opinion of value.

Questions, answered

Common questions about condos for rent in Waterloo

How much is a condo to rent in Waterloo?

The median rent of the 61 condos for rent in Waterloo is $1,999/mo. By size, the median is $1,750/mo for 1 bedroom and $2,173/mo for 2 bedrooms.

All rentals in Waterloo

Are there furnished condos for rent in Waterloo?

Yes. 24 of the 61 condos for rent in Waterloo are listed furnished and 7 partly furnished.

All rentals in Waterloo

Keep looking

More Rentals in Waterloo

144 homes are for rent in Waterloo. Browse by neighbourhood or home type below — and get the industry's highest Cashback Rebate when you buy with HOMEH.