salaryRent is higher than in 63% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (78.2%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $75,640 a year. That is $36 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
No. Rent here is more expensive than in most of Illinois. It is number 250 of 334 cities from cheapest to most expensive.
How much do households earn in Waterloo?
Share of households by yearly income. 38.8% of households earn $100,000 or more.
Rent by apartment size in Waterloo
| Size | Waterloo | U.S. average |
|---|---|---|
| 1 bedroom | $719 | $1,324 |
| 2 bedrooms | $1,083 | $1,509 |
| 3 bedrooms | $1,325 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Waterloo overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Waterloo, so the Illinois figure is shown.
Taxes and bills in Waterloo
Life in Waterloo
Is it cheaper to rent or buy in Waterloo?
Buying is cheaper month to month: about $160 a month less than renting.
Owning assumes a typical $249,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $24,950 for the down payment.
Frequently asked questions
What is the average rent in Waterloo, IL?
Renting in Waterloo costs a median of about $1,891 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Waterloo?
To keep rent under 30% of income, you need about $75,640 a year, or $36 an hour at a full-time job.
Is Waterloo cheap or expensive?
Waterloo is rated OK: rent takes 21.3% of the typical household income of $106,460. It ranks 250th cheapest of 334 Illinois cities we track.
How much are property taxes in Waterloo?
The median homeowner in Waterloo pays $4,198 a year in property taxes, about 1.68% of the median home value.
Is Waterloo more expensive than the national average?
Overall prices in Illinois are same as 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 $249,500, about 2.3 times the typical yearly household income.
11,129 people live in Waterloo. Numbers are typical (middle) values.