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City in Ontario

Apartments & homes for rent in Waterloo

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

There are 143 rentals in Waterloo, Ontario, with a median rent of $2,175/mo. 31 are 1-bedroom apartments and units and 59 have 2 bedrooms.

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 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

$550,000

23% below Ontario

In Waterloo

$550,000

In Ontario

$716,900

Median monthly rent

$2,175/mo

13% below Ontario

In Waterloo

$2,175

In Ontario

$2,499

$626

Per square foot

≈ 21.1 years

Of rent to match the purchase price

On the marketMarket snapshot

For sale

348

Median $550,000

Condos 195 · Houses 153

For rent

143

Median $2,175

Condos 88 · Houses 55

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 2026-10-19.

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 Through September 2026 Deep sales history

What Rent Costs in Waterloo

556 homes were leased in Waterloo over the 12 months to September 2026. Half leased above $2,153 and half below, 2.8% lower than the 12 months before. A typical home found its tenant in 30 days — 2 days slower than a year ago.

Median rent: $2,153; -2.8% year over year
Days to lease: 30; 2 days slower
Leases closed: 556; last 12 months
Rent per square foot: $2.55/mo; from 513 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 home here differs from the next.

$3,292$2,727$2,161$1,596

Oct ’23Oct ’24Sep ’25Sep ’26

Median rent Middle half of leases

What renters actually paid

$3,000/mo

on a $3,000 asking rent — right at the asking rent

−10%Asking rent+10%

Of the asking rent: 100.0%
Leased over asking: 9.4%

From 556 leases that closed here in the last 12 months.

Rent or buy in Waterloo

26.8 years

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

Median sold price

$691,175

1,036 sales

Median rent

$2,153/mo

556 leases

Gross rental yield

3.74%

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.

What actually rents in Waterloo

A single median hides this: the mix of homes behind it, and what each kind costs.

556leases

Condo apartment$1,96760.3%
Detached$2,91817.4%
Condo town$2,7294.3%
Freehold town$2,7000.9%
Other kinds of home$1,8000.9%
Other kinds, too few of each —16.2%

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	42	$2,075	$1,763 – $2,450	29	100.0%
Aug 2026	82	$2,100	$1,713 – $2,500	27	100.0%
Jul 2026	96	$2,105	$1,788 – $2,463	30	100.0%
Jun 2026	70	$2,150	$1,750 – $2,700	28	100.0%
May 2026	46	$2,175	$1,813 – $2,750	24	100.0%
Apr 2026	40	$2,000	$1,794 – $2,297	27	100.0%
Mar 2026	41	$2,295	$1,950 – $2,799	41	100.0%
Feb 2026	28	$2,313	$1,894 – $2,624	22	100.0%
Jan 2026	26	$2,398	$1,813 – $2,700	34	100.0%
Dec 2025	37	$2,200	$1,800 – $2,600	38	100.0%
Nov 2025	25	$2,250	$1,900 – $2,450	28	100.0%
Oct 2025	23	$2,000	$1,850 – $2,500	45	100.0%
Sep 2025	31	$2,000	$1,850 – $2,275	14	100.0%
Aug 2025	77	$2,200	$1,850 – $2,500	26	100.0%
Jul 2025	81	$2,200	$1,900 – $2,550	25	100.0%
Jun 2025	56	$2,250	$1,975 – $2,950	29	100.0%
May 2025	54	$2,200	$1,831 – $2,575	39	100.0%
Apr 2025	33	$2,300	$1,950 – $2,900	27	100.0%
Mar 2025	31	$2,160	$1,800 – $2,778	39	100.0%
Feb 2025	32	$2,437	$2,113 – $3,000	29	100.0%
Jan 2025	19	$2,200	$2,050 – $3,050	49	100.0%
Dec 2024	27	$2,100	$1,875 – $2,400	28	100.0%
Nov 2024	27	$2,200	$1,975 – $2,798	29	100.0%
Oct 2024	28	$2,325	$2,100 – $2,688	20	100.0%
Sep 2024	49	$2,150	$1,990 – $2,600	57	100.0%
Aug 2024	112	$2,375	$1,999 – $2,650	30	100.0%
Jul 2024	66	$2,350	$1,900 – $2,825	38	100.0%
Jun 2024	46	$1,900	$1,800 – $2,400	50	100.0%
May 2024	46	$2,375	$1,913 – $2,780	43	100.0%
Apr 2024	36	$1,950	$1,750 – $2,538	38	100.0%
Mar 2024	15	$3,100	$2,500 – $3,175	59	100.0%
Feb 2024	17	$2,500	$2,000 – $2,900	27	100.0%
Jan 2024	14	$2,350	$2,000 – $2,694	41	100.0%
Dec 2023	12	$2,475	$2,150 – $3,125	25	100.0%
Nov 2023	16	$2,600	$2,313 – $2,888	20	100.0%
Oct 2023	20	$2,600	$2,238 – $3,000	20	100.0%

What people ask about Waterloo

How much is rent in Waterloo?

The median lease in Waterloo closed at $2,153 a month over the 12 months to September 2026, across 556 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 home. Not an appraisal or an opinion of value.

Questions, answered

Common questions about apartments & homes for rent in Waterloo

What is the average rent in Waterloo?

The median rent of the 143 rentals in Waterloo is $2,175/mo, from $700 to $5,995 a month.

Houses for rent in Waterloo

How much is a 1-bedroom apartment in Waterloo?

31 1-bedroom rentals are listed in Waterloo, with a median rent of $1,700/mo.

Condos for rent in Waterloo

How much is a 2-bedroom apartment in Waterloo?

59 2-bedroom rentals are listed in Waterloo, with a median rent of $2,175/mo.

Condos for rent in Waterloo

Keep looking

More Apartments & Homes for Rent in Waterloo

143 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.