Dorothy McCabe holds the leading position in the Waterloo mayoral market as the incumbent seeking a second term in the October 26, 2026, election. She filed her nomination early in May and has emphasized continuity on housing affordability, securing a new local hospital, neighborhood improvements, and economic development through her established record on council and regional boards. The four challengers—Shannon Weber, Jeyas Balaskanthan, Jamie Hari, and Jerry Jiang—registered later, with Jiang’s recent technology-focused entry appealing mainly to students but lacking prior political experience. Trader consensus around McCabe’s advantage aligns with typical incumbency patterns in Ontario municipal races, though the short campaign window leaves room for shifts from voter turnout or late developments.