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May 2026 · Waterloo
Average Rent in Waterloo — May 2026
43 confirmed residential leases in Waterloo in May 2026. Average rent $2,318/month. Mixed conditions across property types.
Avg Lease Price $2,318/mo
Median Lease $2,075/mo
Avg Asking $2,311/mo
Lease / Ask 100.3%
Leased Over Asking 16.3%
Avg DOM 34 days
Previous Months
Total Leased
43
all residential
Avg Lease Price
$2,318
per month
Median Lease
$2,075
mid-point
Lease / Ask
100.3%
avg ratio
Over Asking
16.3%
of all leases
Avg DOM
34
days on market
Lease Prices by Property Type
Waterloo · May 2026
💰 Lease Price Summary
Average Lease $2,318/mo
Median Lease $2,075/mo
Avg Asking Rent $2,311/mo
Lowest Lease $1,600
Highest Lease $4,600
Lease / Ask Ratio 100.3%
📊 Market Activity
Leased over asking 16.3%
Leased at asking 51.2%
Leased under asking 32.6%
Avg Days on Market 34 days
Fast · 050Slow · 100+
⚖️ Balanced — 16.3% over vs 32.6% under asking.
💰 Lease Price Summary
Average Lease $1,985/mo
Median Lease $1,950/mo
Avg Asking Rent $2,018/mo
Lowest Lease $1,600
Highest Lease $2,800
Lease / Ask Ratio 98.4%
📊 Market Activity
Leased over asking 3.6%
Leased at asking 53.6%
Leased under asking 42.9%
Avg Days on Market 35 days
Fast · 050Slow · 100+
⚖️ Balanced — 3.6% over vs 42.9% under asking.
💰 Lease Price Summary
Average Lease $3,257/mo
Median Lease $3,200/mo
Avg Asking Rent $3,153/mo
Lowest Lease $1,750
Highest Lease $4,600
Lease / Ask Ratio 103.3%
📊 Market Activity
Leased over asking 22.2%
Leased at asking 55.6%
Leased under asking 22.2%
Avg Days on Market 47 days
Fast · 050Slow · 100+
⚖️ Balanced — 22.2% over vs 22.2% under asking.
💰 Lease Price Summary
Average Lease $2,481/mo
Median Lease $2,500/mo
Avg Asking Rent $2,475/mo
Lowest Lease $1,850
Highest Lease $3,050
Lease / Ask Ratio 100.3%
📊 Market Activity
Leased over asking 50.0%
Leased at asking 37.5%
Leased under asking 12.5%
Avg Days on Market 10 days
Fast · 050Slow · 100+
🔥 High demand — 50% leased above asking at a 100.26% lease-to-ask ratio.
💰 Lease Price Summary
Average Lease $1,895/mo
Median Lease $1,895/mo
Avg Asking Rent $1,695/mo
Lowest Lease $1,895
Highest Lease $1,895
Lease / Ask Ratio 111.8%
📊 Market Activity
Leased over asking 100.0%
Leased at asking 0.0%
Leased under asking 0.0%
Avg Days on Market 25 days
Fast · 050Slow · 100+
🔥 High demand — 100% leased above asking at a 111.8% lease-to-ask ratio.
Nearby Cities · May 2026
Average confirmed lease price across all residential property types
| City | Avg Lease | Median | Lease / Ask | DOM | Market |
|---|---|---|---|---|---|
| Kitchener | $2,204 | $2,200 | 98.6% | 30d | ⚖️ Balanced |
| Cambridge | $2,449 | $2,500 | 98.8% | 38d | ⚖️ Balanced |
| Guelph | $2,559 | $2,450 | 99.0% | 29d | ⚖️ Balanced |
| Woolwich | $2,820 | $2,700 | 97.2% | 16d | 🧊 Renter-Friendly |
Frequently Asked Questions
Waterloo · May 2026
The average confirmed lease in Waterloo was $2,318/month in May 2026,
based on 43 MLS® transactions. The median was
$2,075/month.
Condos averaged $1,985/mo, freehold averaged $3,257/mo, and townhouses averaged $2,481/mo.
Units in Waterloo took an average of 34 days to lease in May 2026.
Freehold rentals averaged 47 days while condos averaged 35 days.
In May 2026, condos averaged $1,985/month while freehold rentals averaged $3,257/month —
a difference of $1,272/month.
Waterloo averaged $2,318/month in May 2026. Cambridge averaged $2,449/mo. Kitchener averaged $2,204/mo. See the full May 2026 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.
