What it's like to live in Waterloo
Waterloo is a small city in Illinois with rent below the national average, home prices that remain within reach, county unemployment below the national average, and household incomes running above the national average. Those factors carry real weight for anyone weighing where to move next.
The tradeoffs are worth naming plainly. Waterloo deals with cold winters and a car-dependent commute, with few people using transit.
The good
- Rent below the national average
- Affordable home prices
- Low unemployment in the county
- Higher-than-average incomes
- Low crime rates
- Average class sizes
The not so good
- Cold winters
- Car-dependent — few commuters use transit
How Waterloo compares
Median household income
Median rent (per month)
Median home value
What it takes to move to Waterloo
Based on Waterloo's median rent, home value and household income
To rent
$1,772
up front: first month plus a typical one-month deposit
- Income to keep rent under 30%: $35,440 a year
- 48% of Waterloo renters spend 30% or more of their income on rent
To buy
$49,900
a 20% down payment on the median home
- With 10% down: $24,950
- Homes cost 2.5× the typical local household income (US: 4.1×)
Moving costs, closing costs and taxes not included.
The details
Cost of living▼ 37% below US
$886/mo median rent
Rent here is genuinely low, with median rent around $886 a month. Factoring in local incomes, the value gets even better. Money stretches further here than in most of the country. Home prices are reasonable, with a median around $249,500. Not a steal, but not intimidating either.
Median home value $249,500 · 48% of renters cost-burdened
Job market
3.0% county unemployment
Unemployment in Monroe County is 3.0%, a little below the national average of 4.3%. That's the county-wide rate; BLS doesn't measure a place this size on its own.
Monroe County (county-wide)
Safety▼ 65% below US
133 violent crimes per 100k
Safety is genuinely one of the selling points here. Both violent and property crime run well below the national average, the kind of numbers that fade into the background after a week of living somewhere.
Property crime 580/100k · Waterloo Police Department · 2019 data
Getting aroundNear US average
27 min average commute
Commutes run about average, at 26.8 minutes. Fine day to day, but it adds up over a year, and where someone lives relative to where they work starts to matter. 9 in 10 workers drive to work; 13% work from home.
How workers get to work
Climate
Summers are warm, with highs around 87°F, and winters are cold, with lows around 25°F and snow a regular occurrence. Rainfall is regular throughout the year.
Average month
30-year averages, 1991–2020
Education & workforceNear US average
37% bachelor's degree or higher
Education levels run about average, with 37% college-educated. It's a mix of white-collar and blue-collar work, which can be an asset or a limitation depending on the field.
Schools
5 public schools inside the boundary
There are 5 public schools inside the boundary and 1 private school. The student-to-teacher ratio is 16:1, close to the national average of 16:1.
Parks & recreation
The nearest national park or historic site is Ulysses S Grant National Historic Site (18 miles away). There are 3 national parks and sites within a day's drive.
Bottom line
Waterloo's strongest points are rent below the national average and home prices that remain within reach; the main tradeoffs are cold winters and a car-dependent commute, with few people using transit. A year of median rent ($886/mo) equals 11% of the median household income here, less than the 21% typical nationwide. It tends to suit people watching their budget, job seekers (county-wide unemployment is low), and anyone prioritizing low crime.
Other places near Waterloo
All Illinois guides →Moving to Belleville →
15 mi away · pop. 41,370
Rent $1,019/mo · Income $63,535
Compare with Waterloo →Moving to Cahokia Heights →
16 mi away · pop. 17,106
Rent $981/mo · Income $33,792
Compare with Waterloo →Not sure Waterloo is the one?
Put it side by side with another city.