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May 2025 · Waterloo
Average Rent in Waterloo — May 2025
37 confirmed residential leases in Waterloo in May 2025. Average rent $2,374/month. Mixed conditions across property types.
Avg Lease Price $2,374/mo
Median Lease $2,300/mo
Avg Asking $2,400/mo
Lease / Ask 98.9%
Leased Over Asking 8.1%
Avg DOM 62 days
Total Leased
37
all residential
Avg Lease Price
$2,374
per month
Median Lease
$2,300
mid-point
Lease / Ask
98.9%
avg ratio
Over Asking
8.1%
of all leases
Avg DOM
62
days on market
Lease Prices by Property Type
Waterloo · May 2025
💰 Lease Price Summary
Average Lease $2,374/mo
Median Lease $2,300/mo
Avg Asking Rent $2,400/mo
Lowest Lease $1,450
Highest Lease $3,750
Lease / Ask Ratio 98.9%
📊 Market Activity
Leased over asking 8.1%
Leased at asking 51.4%
Leased under asking 40.5%
Avg Days on Market 62 days
Fast · 050Slow · 100+
⚖️ Balanced — 8.1% over vs 40.5% under asking.
💰 Lease Price Summary
Average Lease $2,288/mo
Median Lease $2,113/mo
Avg Asking Rent $2,315/mo
Lowest Lease $1,450
Highest Lease $3,750
Lease / Ask Ratio 98.9%
📊 Market Activity
Leased over asking 7.7%
Leased at asking 53.8%
Leased under asking 38.5%
Avg Days on Market 68 days
Fast · 050Slow · 100+
⚖️ Balanced — 7.7% over vs 38.5% under asking.
💰 Lease Price Summary
Average Lease $2,486/mo
Median Lease $2,600/mo
Avg Asking Rent $2,479/mo
Lowest Lease $1,800
Highest Lease $3,200
Lease / Ask Ratio 100.3%
📊 Market Activity
Leased over asking 14.3%
Leased at asking 57.1%
Leased under asking 28.6%
Avg Days on Market 45 days
Fast · 050Slow · 100+
⚖️ Balanced — 14.3% over vs 28.6% under asking.
💰 Lease Price Summary
Average Lease $2,886/mo
Median Lease $2,800/mo
Avg Asking Rent $2,922/mo
Lowest Lease $2,300
Highest Lease $3,750
Lease / Ask Ratio 98.8%
📊 Market Activity
Leased over asking 0.0%
Leased at asking 55.6%
Leased under asking 44.4%
Avg Days on Market 67 days
Fast · 050Slow · 100+
⚖️ Balanced — 0% over vs 44.4% under asking.
🏗
No multi-unit data for May 2025
Not enough multi-unit lease transactions in
Waterloo this month to generate a summary.
Nearby Cities · May 2025
Average confirmed lease price across all residential property types
| City | Avg Lease | Median | Lease / Ask | DOM | Market |
|---|---|---|---|---|---|
| Kitchener | $2,294 | $2,200 | 98.7% | 47d | ⚖️ Balanced |
| Cambridge | $2,537 | $2,600 | 98.8% | 49d | ⚖️ Balanced |
| Guelph | $2,490 | $2,350 | 99.7% | 59d | ⚖️ Balanced |
Frequently Asked Questions
Waterloo · May 2025
The average confirmed lease in Waterloo was $2,374/month in May 2025,
based on 37 MLS® transactions. The median was
$2,300/month.
Condos averaged $2,288/mo, freehold averaged $2,486/mo, and townhouses averaged $2,886/mo.
Units in Waterloo took an average of 62 days to lease in May 2025.
Freehold rentals averaged 45 days while condos averaged 68 days.
In May 2025, condos averaged $2,288/month while freehold rentals averaged $2,486/month —
a difference of $198/month.
Waterloo averaged $2,374/month in May 2025. Guelph averaged $2,490/mo. Kitchener averaged $2,294/mo. See the full May 2025 Ontario lease summary →
Looking to rent in Waterloo?
Browse available rentals or connect with a local agent who knows the rental market.
Data note: Based on MLS® confirmed lease transaction data held in our system for Waterloo, Ontario. Not official TRREB or CREA data. For general research only — consult a licensed real estate professional before making tenancy decisions.
