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Waterloo and the neighboring Kitchener neighborhood provide some very good housing opportunities for new residents. With almost one hundred thousand residents, Waterloo (referred to as uptown as opposed to Kitchener as downtown) is continuing to grow and expand with newer developments surrounding older, existing architecture.
The centerpiece of Waterloo is Waterloo Park, which contains more of the historical architecture of the town that dates to its nineteenth century beginnings. Additional large public spaces are Bechtel Park, Lexington Park, and Hillsdale Park. The volume of large parks – along with smaller parks within the city – means that most apartments and houses for rent provide easy access to outdoor spaces. Residents can easily enjoy a better quality of life separate from a traditional downtown atmosphere. Luckily, though, apartments for rent in Waterloo are somewhat affordable compared to other metropolitan areas, and the vacancy rate for Waterloo apartments is not so low that it drives up prices artificially.
Recently, Waterloo has begun to attract high tech companies, so this current scenario for houses and apartments for rent in Waterloo may not stay static for very long. It also remains a bit of a financial hub, as insurance and banking companies still represent a significant portion of Waterloo’s business climate. With the additional businesses coming to the city, public transit is expanding, which will increase the ability of Waterloo residents to get around without cars. All these factors may make for more demand within the central core of the city and it may become more difficult to find rentals in Waterloo as one looks further away from the central core. While the current climate does allow for good deals on housing, those deals will not be present for long once the growing demand begins to significantly affect the housing supply.