Located about an hour from Toronto, Hamilton, and London, ON, Waterloo is a place with big-city benefits and small-town charm. The conjoined areas of Kitchener, Waterloo, and Cambridge are referred to as the tri-cities and make up the 4th-largest Census Metro Area in Ontario. As of 2020, the tri-city area is home to over 623,000 people, and it’s expected to have a population of 729,000 by 2031. When you are a resident of one of these cities, you are an honourary resident of the others. This means that you not only get the convenience of living near Toronto, but you also have multiple cities of amenities to choose from right outside your door. From large parks and nature trails to museums and farmers’ markets, Waterloo offers natural beauty and historic amenities. If you love a chilled-out yet active community and are looking for homes for sale in Ontario, Waterloo could be an excellent spot to start your search.
Waterloo, ON Real Estate Market
While Waterloo offers more affordable prices than other cities in Ontario, prices are trending upward. You’ll find mostly single-detached homes in Waterloo with a few condos and townhomes sprinkled throughout. The median price for a single-family home in Waterloo is $910,000, but with a lack of supply similar to other Ontario cities, you’ll likely pay more than the listing price when you close on a home. This is also the case for condos, which average around $415,000, and townhomes which average around $609,000.
While the supply of homes for sale in Waterloo is sparse, you can snag your dream home if you watch the market closely and ask a local agent about market trends. Overall, the summer months of June, July, and August are the most popular for home sales in Waterloo. If you want to get ahead on home searching in Waterloo, you’re likely to have less competition outside of those busy months.
Around ¼ of homes for sale in Waterloo were built in the 1960s and ‘70s, while the rest were built pre-1960 and in the 1980s. Your neighbours and friends are most likely to be homeowners, as 70% of Waterloo residents own property, while the rest are renters.
Waterloo Average Property Prices
- Average home price: $910K
- Average condo price: $415K
- Average townhouse price: $609K
Waterloo Neighbourhoods
Waterloo is home to some diverse neighbourhoods, so no matter what phase of life you are in, you’ll find a home that suits you. Whether you want to live somewhere with an excellent walkability score, need larger plots of land, or are looking to buy an affordable first home, Waterloo has got you covered.
- Best Urban Neighbourhoods: Old Westmount and Uptown Waterloo
- Best Suburbs: Laurelwood and Eastbridge
- Best Luxury Neighbourhoods: Westmount and Country Squire
- Most Affordable Neighbourhoods: Lexington and University Downs
- Best Schools: Eastbridge, Laurelwood, and Vista Hills
- Best for Commuting: Lincoln Height and Uptown Waterloo
Waterloo Schools In Ontario
There are 121 schools across the Waterloo Region, with education options as diverse as housing options. The Waterloo School District offers public schooling options, while Catholic schooling is overseen by separate boards. In total, the Waterloo region offers 103 elementary schools and 16 high schools; 46 of those are Catholic Elementary Schools, and 5 of those are Catholic High Schools.
In addition, Waterloo offers several opportunities for continuing education and adult schooling. The Waterloo Region also has several colleges and universities, meaning there is a plethora of student life throughout the area.
Here are some of the schools specific to Waterloo:
Junior Elementary Schools
- Vista Hills Public School (K-6)
- Elizabeth Ziegler Public School (K-6)
- Mary Johnston Public School (K-6)
- Lincoln Heights Public School (K-8)
- Laurelwood Public School (K-8)
Secondary Schools (9-12)
- Bluevale Collegiate Institute
- Sir John A. Macdonald Secondary School
- Waterloo Collegiate Institute (WCI)
- St. David Catholic Secondary School
Post-Secondary Institutions
- University of Waterloo
- Wilfrid Laurier University
- Conestoga College
- Emmanuel Bible College
- Heritage College & Seminary
Waterloo Real Estate FAQs
What postal codes are in Waterloo?
The postal codes in Waterloo include:
- Waterloo Northwest: N2V
- Waterloo South: N2L
- Waterloo Southeast: N2J
- Waterloo Southwest: N2T
Where is the nearest commercial airport in Waterloo, ON?
Toronto Pearson International Airport is 91km (about an hour) from Waterloo.
How Far is Toronto From Waterloo, ON?
Waterloo is 112km away from Toronto, equalling about an hour-and-15-minute drive.
What is The Average House Price in Waterloo, ON?
The average price for single-family homes for sale in Waterloo is around $910K.
Living In Waterloo, Ontario
Waterloo, ON, offers a lifestyle with just as many opportunities as Toronto, but without the congestion or expense of living in the capital city. A nice mix of natural landscapes and nightlife, Waterloo can be an ideal place to call home for anyone from young professionals to retirees. A day in the life of a Waterloo resident could look like grabbing coffee from a local cafe and walking through one of the area’s many parks before heading to see the latest collection at a Waterloo art gallery. It could also consist of heading to the farmers’ market for some fresh produce and getting to know some of the local services you’ll find around town. It’s easy to make each day look different when you live in a city like Waterloo. Here are some more facts about what living in Waterloo, Ontario, is like:
- If you’re moving to Waterloo, you’ll want to know some of the terminologies the locals use. The Waterloo city centre is typically referred to as “uptown,” while the Kitchener city centre is called “downtown.” Since the two cities are closely connected, they are generally known as the “twin cities” or “KW.”
- When you live in Waterloo, you’ll rarely go anywhere without having at least a partial view of the Grand River. Running through the city, the Grand River provides residents with wildlife viewing, canoeing, kayaking, and swimming opportunities.
- Waterloo has been dubbed as the next Silicon Valley, with a booming tech sector marked by the expansion of technology companies like Google, Shopify, and Vidyard. You’ll also find a great number of startups in the region, so Waterloo is an excellent home for those looking for jobs in tech.
- Waterloo’s twin city, Kitchener, is home to the largest Oktoberfest outside of Germany! For ten days straight, KW residents get to lean into Kitchener’s German history with authentic music, food, festivities, and of course, delicious brews!
- Waterloo is lucky enough to get four full seasons! Frosty and frozen winters can be balanced by warm and humid summers, and in between, you’ll see the beautiful fall colours pop up outside.
- The KW area is home to the Kitchener Rangers of the Ontario Hockey League (OHL). The Kitchener Auditorium is the place for both Kitchener and Waterloo residents to catch an exciting hockey game.
Waterloo Jobs
Historically, Waterloo has had strong roots in the insurance sector. Even today, Waterloo residents see the impact that insurance companies have on the city’s economy. However, as time went on, the manufacturing and high-tech industries began taking over. As a part of Canada’s Technology Triangle (CTT), Waterloo works closely with surrounding cities to ensure economic security for its residents. Most widely known for the headquarters of BlackBerry, Waterloo is home to much more than that. Here are some of the top employers in the area:
Technology
- Aeryon Labs
- Maplesoft
- Oracle
- Intel
- McAfee
- Dalsa
- Electronic Arts
Insurance
- Manulife Financial
- Sun Life Financial
- Equitable Life of Canada
- Economical Insurance
Education
- University of Waterloo
- Wilfrid Laurier University
Waterloo Transportation
Waterloo residents are lucky enough to live directly along highway 401, making it a breeze to get to other cities in the region. Highways 7 and 8 also run through Waterloo, and with so many accessible highways, it’s pretty common to see residents commute in and out of the city. However, if you don’t have your own vehicle, Waterloo has plenty of public transit options to choose from. The Grand River Transit system serves the KW region, providing bus and light-rail transportation for residents. In addition, the GO Bus and Train Services also reach Waterloo in case you need to travel closer to the Toronto area.
Distance to Major Cities
- 3 Kilometres to Kitchener, ON
- 58 Kilometres to Hamilton, ON
- 66 Kilometres to Brampton, ON
- 79 Kilometres to London, ON
- 95 Kilometres to Toronto, ON
Things To Do In Waterloo, Ontario
There’s no shortage of things to do in Waterloo! From events like the fall harvest to summer activities, there are always new opportunities for a fun day out. Explore one of Waterloo’s many parks or take a tour at one of our historic museums. We promise it will be worth every minute spent exploring what this incredible city has waiting just under its surface.
- Get Active at RIM Park: RIM Park is the place to be for anyone who wants an active lifestyle. This enormous sports complex features six sports fields, a beach volleyball court, baseball diamonds, olympic-sized ice pads, an indoor field, and two NBA-sized gyms!
- Discover What’s Going On in Waterloo Square: Waterloo Square is in the heart of the city and hosts a plethora of events and festivals throughout the year. The Buskers Festival and the Waterloo Rib Festival are some of the local favourites, and the square even turns into a skating rink in the wintertime! As the city’s central point, Waterloo Square is somewhere you will become familiar with relatively quickly
- Soak In the Fresh Air at Waterloo Park: Waterloo Park will likely be somewhere you frequent if you move to Waterloo. Nestled in the centre of uptown, Waterloo Park offers sports fields, an outdoor theatre, and a petting zoo! In addition to the larger features, there are also several walking trails and biking paths for residents to enjoy on a regular basis.
- Spend the Day Learning Waterloo History: Waterloo is bursting with rich history to discover. Head to the City of Waterloo museum for some general information on the city’s past. If you want to dig deeper, take a walking tour of the city where you will see the 19th Century Heritage Park, some beautiful historic architecture, and more!
- Take a Hike on the West Side Trails: If you want to see some wildlife without stepping foot outside of the city, the West Side Trails are perfect. With a total of 12km of hiking and walking trails, West Side is a great place to go on a brisk walk with friends or set a new PR for yourself.
- Buy Some Fresh Produce in Kitchener: Yes, this one is technically in Kitchener rather than Waterloo, but the KW region often acts as one city. The Saturday Kitchener Farmers’ Market is the prime spot to buy local goods and produce. In cities like Waterloo and Kitchener, there’s no way to show price in your town like supporting local businesses at the Market.
- Eat Your Favourite Food or Try Something New: Waterloo has a diverse array of restaurants and eateries – most of them owned by Waterloo residents. You’ll find everything from authentic German cuisine to Mediterranean bowls, all within 5 minutes walking distance of one another.
- Play a Round of Golf: A city is not an outdoor paradise without a few golf courses to offer. Waterloo has a few courses to choose from, all with their own unique charm. Westhill Meadows is excellent for beginners, with affordable prices and practice greens. Westmount Golf and Country Club is an exclusive, private club that also offers tennis and curling. Lastly, Golf North’s Grey Silo is surrounded by gorgeous homes and a view of the Grand River.
- Visit Some of Waterloo’s Museums and Galleries: From science museums to art galleries, Waterloo has a wide variety of attractions for residents with any hobby. The Canadian Clay and Glass Gallery is a phenomenal place to get inspired by delicate works of art. The Earth Sciences Museum at the University of Waterloo provides an educational experience, with countless exhibits to discover.
- Oktoberfest: Another activity that is technically in Kitchener, but Oktoberfest is a Waterloo must-do! As the largest Oktoberfest celebration outside of Germany, the KW region plays host for 10 days of celebrating its German heritage. Folks come from far and wide for authentic music, food, and beer!
