Cost of Living in Waterloo, IA
Population 66,947 · Iowa · Data vintage 2023
(100 = US avg)
Most of Waterloo's cost indicators track within a reasonable band of national figures, with median household incomes near $56,344 — a more representative starting point for relocation math than the headline-expensive or headline-cheap cities on either tail. Unemployment has stayed elevated relative to the national figure — 6.4% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Waterloo is about 50 miles northwest of Cedar Rapids, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 15% lower than Cedar Rapids' $177,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Waterloo
The median home value in Waterloo is $150,200 — 51% below the national median of $305,000. Median rent runs $896/month, 32% lower than the national median of $1,314/month. The median household income of $56,344/year is 24% lower than the US median of $74,580. The local unemployment rate is 6.4%, above the national average of 4.8%. Iowa's top state income tax rate is 5.7% and the combined sales tax is 6.9%. Overall, Waterloo has a cost of living index of 57 versus the US average of 100, meaning it is 43% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Waterloo, IA?
Waterloo has a cost index of 57 (100 = national average). It is 43% below the national average.
What is average rent in Waterloo, IA?
The median gross rent in Waterloo is $896 per month based on 2023 Census data.
What is the average home price in Waterloo?
The median home value in Waterloo is $150,200 according to Zillow and Census data.
What is the median income in Waterloo?
The median household income in Waterloo is $56,344 per year (2023 ACS 5-year estimates).
What is the sales tax in Waterloo, IA?
The combined state and local sales tax rate in Waterloo is 6.9%. The Iowa state income tax top rate is 5.7%.
Is Waterloo, IA affordable?
Yes, Waterloo is generally considered affordable, with a cost of living index of 57 — about 43% below the US national average of 100.
Waterloo at a Glance
- Population
- 66,947
- Median Income
- $56,344
- Home Value
- $150,200
- Median Rent
- $896/mo
- Unemployment
- 6.4%
- Sales Tax
- 6.9%
Nearby Cities
Explore county-level cost of living data
Iowa Rankings
Similar Cost Cities
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