salaryRent is lower than in 83% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 15.9 minutes.
How much money do I need?
To rent here comfortably, you should earn about $42,960 a year. That is $21 an hour at a full-time job.
Is rent cheaper than other Iowa cities?
No. Rent here is more expensive than in most of Iowa. It is number 45 of 86 cities from cheapest to most expensive.
How much do households earn in Waterloo?
Share of households by yearly income. 13.6% of households earn $100,000 or more.
Rent by apartment size in Waterloo
| Size | Waterloo | U.S. average |
|---|---|---|
| Studio | $607 | $1,338 |
| 1 bedroom | $720 | $1,324 |
| 2 bedrooms | $1,048 | $1,509 |
| 3 bedrooms | $1,273 | $1,698 |
| 4 bedrooms | $1,303 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Waterloo overall?
Everyday prices in the Waterloo-Cedar Falls metro area are 13% below the U.S. average (index 87.1, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Waterloo
Life in Waterloo
What jobs pay in Waterloo
| Job | Median pay | Rent / pay |
|---|---|---|
| Pharmacist | $138,690 | 9.3% |
| Physician Assistant | $132,880 | 9.7% |
| Lawyer | $126,570 | 10.2% |
| Nurse Practitioner | $126,330 | 10.2% |
| Software Developer | $113,970 | 11.3% |
| Civil Engineer | $97,430 | 13.2% |
| Dental Hygienist | $82,500 | 15.6% |
| Operations Manager | $82,400 | 15.6% |
| Computer Systems Analyst | $80,140 | 16.1% |
| Police Officer | $78,970 | 16.3% |
| Registered Nurse | $76,920 | 16.8% |
| Accountant | $73,530 | 17.5% |
| Market Research Analyst | $64,000 | 20.1% |
| Electrician | $63,420 | 20.3% |
| Plumber | $62,200 | 20.7% |
| Firefighter | $61,190 | 21.1% |
| Elementary School Teacher | $60,780 | 21.2% |
| HVAC Technician | $60,400 | 21.3% |
| Licensed Practical Nurse | $59,950 | 21.5% |
| Truck Driver | $58,730 | 21.9% |
| Carpenter | $55,840 | 23.1% |
| Warehouse Worker | $47,440 | 27.2% |
| Medical Assistant | $45,660 | 28.2% |
| Customer Service Representative | $39,530 | 32.6% |
| Nursing Assistant | $38,930 | 33.1% |
| Restaurant Cook | $35,420 | 36.4% |
| Retail Salesperson | $31,270 | 41.2% |
| Cashier | $29,320 | 44.0% |
| Server (Waiter/Waitress) | $21,490 | 60.0% |
Is it cheaper to rent or buy in Waterloo?
About the same. Renting and owning cost within $15 of each other each month.
Owning assumes a typical $152,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $15,260 for the down payment.
Frequently asked questions
What is the average rent in Waterloo, IA?
Renting in Waterloo costs a median of about $1,074 a month in 2026, including utilities. The Iowa median is $1,071.
How much do I need to make to live in Waterloo?
To keep rent under 30% of income, you need about $42,960 a year, or $21 an hour at a full-time job.
Is Waterloo cheap or expensive?
Waterloo is rated OK: rent takes 20.8% of the typical household income of $61,992. It ranks 45th cheapest of 86 Iowa cities we track.
How much are property taxes in Waterloo?
The median homeowner in Waterloo pays $2,494 a year in property taxes, about 1.63% of the median home value.
Is Waterloo more expensive than the national average?
Overall prices in the metro area are 13% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Waterloo?
The median home value in Waterloo is $152,600, about 2.5 times the typical yearly household income.
67,008 people live in Waterloo. Numbers are typical (middle) values.