- 1 BedBd
- 1 BathBa
- 95 - 129 SqftSqft
$510 CAD / Month
Located just outside of Kitchener, Waterloo is home to a population of over 104,000 people. Nearby communities include Cambridge, Guelph, St. Jacobs, and New Hamburg. Waterloo covers more than 64 square kilometres near the Grand River and Highway 85 (Conestoga Parkway). Public transportation and nearby highways make it easy for residents to get around, and amenities such as restaurants, shopping malls, and entertainment options are abundant. Parks, a lake, a creek, and a river all make for stunning views during a hike or picnic.
With average house prices ranging from $300,000 to $600,000, Waterloo has a mid-range real estate market. In Waterloo’s northern section, large, newer-built homes at higher prices can be found mostly along the outer edges of the city. Older single-family homes can also be found in this section, along with more affordable row houses and retail commercial space. The city’s central section offers a mix of older single-family homes, condo options, row housing, vacant land, and commercial space (mostly office and retail). The southern section is predominantly newer and older single-family homes, with some commercial space available.
Sitting at around 2%, Waterloo’s vacancy rate has been decreasing over the past few years, creating a tighter rental market. The city’s high demand for rental units is linked to there being two university campuses in Waterloo, as well as a number of tech companies. While additional rental units are being added to the market, the supply has not been able to keep up with the demand. Rental condo units have been a popular choice recently in the city, including for students. Vacancy rates are lowest for bachelor and one-bedroom apartments, while three-bedroom apartments have high availability. The average rent costs for apartments in Waterloo are $820 for a bachelor apartment, $880 for a one-bedroom apartment, $1,100 for a two-bedroom apartment, and $1,400 for a three-bedroom (or more) apartment.
Waterloo is known for its technology-based economy. Hundreds of high-tech companies operate in the city, including BlackBerry, Descartes Systems Group, Maplesoft, Sandvine, Open Text Corporation, Dalsa, MKS Inc., and Aeryon Labs. Tech companies that are headquartered elsewhere, but that have research and development centres in the city, include Google, McAfee, Electronic Arts, SAP, Intel, and Oracle. Insurance is also a big contributor to the local economy, with companies such as Economical Insurance, Sun Life Financial, Manulife, and Equitable Life of Canada employing thousands of residents. Other large employers include the University of Waterloo and Wilfrid Laurier University. Waterloo’s unemployment rate sits at around 6%, which is on par with the national rate.
Grand River Transit operates public transportation in the city, as well as in the neighbouring communities of Cambridge, Kitchener, St. Jacobs, Elmira, and New Hamburg.The majority of the buses in operation are accessible for those in wheelchairs or with strollers. More than a dozen routes pass through the city. Rapid transit routes allow for faster travel times, and the city is currently working on a light rail transit system. GO Transit buses make stops at the two universities, and the Greyhound bus service also stops in the city.
The Waterloo Region District School Board and Waterloo Catholic District School Board operate primary and secondary schools in the city. Examples of schools in the area include Cedarbrae Public School, Centennial Public School, Empire Public School, Laurelwood Public School, MacGregor Senior Public School, Waterloo Collegiate Institute, Holy Rosary, and St. David Catholic Secondary. Private school options are also available. Waterloo has a number of post-secondary options, including the University of Waterloo, Wilfrid Laurier University, Conestoga College, St. Jerome’s University, Liaison College of Culinary Arts, Renison University College, and St. Paul’s University College.
Laurel Creek Conservation Area provides outdoor recreation options for people of all ages, including camping, boating, fishing, swimming, hiking, picnicking, cycling, and kayaking. Besides watersports, the park offers playgrounds and baseball diamonds in the summer months.In the winter, visitors can go cross-country skiing or snowshoeing on groomed trails throughout the park. University of Waterloo’s Earth Sciences Museum features exhibits on geology, archeology, and mining, which include specimens of rocks and minerals, and animal and plant fossils, as well as examples of tools and equipment used. The museum also has a learning centre, a replica mining tunnel, a fountain, and a rock garden. Group tours are available, and the museum holds various events throughout the year.