Skip to main content
MLS® listings · updated October 24, 2026

23 3 Bedroom Homes for Rent in Waterloo

Browse 23 3 bedroom homes for rent across Waterloo, Ontario, with recent lease prices by bedroom.

Zara, Summitly's AI virtual agent (AI-generated image)Chat with ZaraAI virtual agent
Reviews on GoogleRead our reviews →
  • Licensed real estate brokerage
  • Direct MLS® feed
  • Zara, AI virtual agent
  • Paired mortgage support
405 Westcroft Drive, Waterloo: home for rent
405 Westcroft Drive · $3,000/moListed by ROYAL LEPAGE TERREQUITY REALTY, Brokerage

Waterloo at a glance

MLS® data

Homes for rent
23
For sale
73
Leased · 90 days
66
Median rent · 90 days
$2,725/mo
Full market report
Zara, Summitly's AI virtual agent (AI-generated image)
Zara · AI virtual agent

Meet Zara · Waterloo

Ask Zara about any listing, neighbourhood, school zone, or sold comparable in Waterloo. Available 24/7 via chat or phone — no signup, no waiting.

Chat with ZaraTalk to Zara
AI-friendly answerUpdated daily from MLS®

Waterloo has 23 3 bedroom homes listed for rent and a median lease of $2,725/month over the last 90 days, from the MLS®.

Search Ontario homes on the map

Loading map…

Loading map search…
Map preview of Waterloo real estate listings
New in Waterloo

Newest 3 bedroom homes for rent in Waterloo

The newest MLS® listings, freshest first.

Search them all on the map

More 3 bedroom homes for rent in Waterloo

Browse all Waterloo listings

Rent prices

Average and median rent by bedroom in Waterloo

Closed MLS® leases in Waterloo over the last 90 days — the monthly rent tenants actually agreed to, not asking rents. Figures from fewer than 5 leases are withheld.

BedroomsMedian rentAverage rentLeases
1 bedroom$1,650/mo$1,629/mo5
2 bedrooms$1,800/mo$1,932/mo12
3 bedrooms$2,950/mo$2,934/mo38
4+ bedrooms$3,250/mo$3,094/mo8
All bedrooms$2,725/mo$2,619/mo66
Loading Waterloo market deep-dive…
Browse by rent

3 bedroom homes for rent in Waterloo by monthly rent

Active MLS® rental listings per monthly-rent band.

  • Under $1,500/mo
    1
  • $1,500 – $2,000/mo
    0
  • $2,000 – $2,500/mo
    6
  • $2,500 – $3,000/mo
    8
  • $3,000 – $4,000/mo
    7
  • $4,000+/mo
    1
Browse by type

Waterloo rentals by property type

Active rental listings by property type.

Browse by bedrooms

Waterloo rentals by bedroom count

  • 1+ Bedroom
    143
  • 2+ Bedrooms
    99
  • 3+ Bedrooms
    53
  • 4+ Bedrooms
    19
  • 5+ Bedrooms
    3
Popular searches

Explore Waterloo rentals

Jump straight to the searches buyers and renters use most — each one updated daily from MLS® data.

Browse by intent

Popular Waterloo rental searches

The way renters really search — new this week, under $2,000, pet-friendly, furnished, with parking. One tap drops you on the map with that filter applied.

Neighbourhoods

Most-searched neighbourhoods in Waterloo

Where the action is right now — ranked by active MLS® inventory.

By postal code

Most-active postal codes in Waterloo

Forward Sortation Areas (the first 3 characters of a Canadian postal code) ranked by current MLS® inventory.

Nearby markets

Cities near Waterloo

Same-province markets within driving distance — useful when you're flexible on commute.

About the market

Living in Waterloo, Ontario

Waterloo has 400 homes listed for sale on the MLS® right now. The largest groups are condos (136), detached houses (104), townhouses (59) and multi-family homes (16). Another 165 homes are listed for rent.

Over the last 90 days, 436 homes sold in Waterloo at a median price of $687,500, after an average of 32 days on the market. Over the last six months, average sold prices were: detached houses $955,030, semi-detached houses $628,369, townhouses $588,442, condos $413,779 and multi-family homes $1,127,633.

At the current pace of sales, Waterloo's active listings would take about 2.8 months to sell — a tight supply that usually favours sellers. Summitly's market gauge reads: Waterloo is leaning toward a seller's market.

Waterloo is served by ION light rail. The nearest markets Summitly covers are Kitchener (3 km), Cambridge (20 km) and Guelph (24 km).

Looking for a licensed agent? Compare Waterloo real estate agents — free to use. How your agent is paid is set out in your buyer representation agreement.

Renting in Ontario

How to rent in Waterloo

The rules that apply to most residential tenancies in Ontario, from the province and the Landlord and Tenant Board.

  1. 1

    Set a monthly budget

    Leases in Waterloo closed at a median of $2,725/month over the last 90 days — the table above breaks that down by bedroom count.

  2. 2

    View the unit and apply

    Landlords in Ontario may ask for rental history, credit references, a credit check and income information when you apply.

  3. 3

    Sign the Ontario Standard Lease

    Most private residential landlords must use the province's standard lease. If you ask for it in writing and don't get it within 21 days, you can withhold one month's rent.

  4. 4

    Pay only the deposits the law allows

    A rent deposit can be no more than one month's rent and can only be used for your last month. A refundable key deposit is allowed; damage and pet deposits are not.

  5. 5

    Know your notice rules

    Rent can go up once every 12 months with 90 days' written notice. To move out of a monthly tenancy you give at least 60 days' notice (Form N9) ending on the last day of a rental period.

Frequently asked questions

Renting in Waterloo: your questions, answered

Answered with this page's lease data and Ontario's tenancy rules.

  • How many 3 bedroom homes are for rent in Waterloo right now?

    23 3 bedroom homes are listed for rent on the MLS® in Waterloo.

  • What is the rent for a 3-bedroom in Waterloo?

    Over the last 90 days in Waterloo, 3-bedroom rentals leased at a median of $2,950/month across 38 leases. Median rent by bedroom count: 1 bedroom $1,650/month, 2 bedrooms $1,800/month, 3 bedrooms $2,950/month and 4+ bedrooms $3,250/month.

  • How much can a landlord charge as a deposit in Ontario?

    A rent deposit can be no more than one month's rent (one week's if you pay weekly) and can only be used as rent for your last month. The landlord must pay you interest on it every year at the rent-increase guideline rate. A refundable key deposit is allowed; damage and pet deposits are not.

  • Does my landlord have to use the Ontario Standard Lease?

    Landlords of most private residential rental units must use the standard lease for new tenancies. If you ask for it in writing and don't receive it within 21 days, you can withhold one month's rent.

  • How much can rent go up in Waterloo?

    The 2026 rent-increase guideline in Ontario is 2.1%. Rent can rise once every 12 months, with at least 90 days' written notice. Units first occupied for residential use after November 15, 2018 are exempt from the guideline, but the 12-month and 90-day rules still apply.

  • What are the N-forms a landlord can give?

    N-forms are Landlord and Tenant Board notices: N4 for unpaid rent, N12 when the landlord or a purchaser needs the unit, N13 for demolition, conversion or major repairs, and N5 for damage or interference. A notice does not end the tenancy by itself — only the Board can order an eviction, and only the Sheriff can enforce it.

  • When can my landlord enter my unit?

    With at least 24 hours' written notice, between 8 a.m. and 8 p.m., for reasons such as repairs, inspections or showing the unit to a buyer. Emergencies are the exception.

  • How do I end my lease in Ontario?

    Give your landlord at least 60 days' written notice using Form N9. The move-out date must be the last day of a rental period, or the end of your lease term if you have a fixed-term lease.

Licensed Ontario real estate brokerage

Coldwell Banker Summit Realty, Brokerage

Coldwell Banker Summit Realty, Brokerage is registered with the Real Estate Council of Ontario (RECO). Its licensed agents can help you buy, sell or lease in Waterloo, from showings and offers to closing. When you are ready to finance, you can compare mortgage options with our partner, Mortgage Squad Advisors.

  • RECO-registered brokerage
  • Licensed agents
  • Zara, AI virtual agent
Contact a licensed agentChat with Zara (AI) instead

Coldwell Banker Summit Realty, Brokerage. Waqar Afzal, Broker of Record. Each office is independently owned and operated.

Ready to make a move in Waterloo?

Estimate what you can afford, talk to a licensed mortgage advisor about pre-approval, or ask Zara for a personal affordability snapshot.

Get pre-approvedTalk to an advisor
Free market evaluationCall Zara (AI)Chat with Zara (AI)Talk to a licensed agent