What it's like to live in Waterloo
Waterloo is a smaller city in Iowa with rent below the national average, home prices that remain within reach, commutes that run shorter than most cities, and schools with smaller class sizes than the national average. Those factors carry real weight for anyone weighing where to move next.
The tradeoffs are worth naming plainly. Waterloo deals with household incomes below the national average, crime rates above the national average, air quality that falls short of national benchmarks, and college degree attainment below the national average.
The good
- Rent below the national average
- Affordable home prices
- Short commutes
- Low student-teacher ratio
The not so good
- Below-average household incomes
- Crime above national average
- Air quality concerns
- Low college degree attainment
- Cold, harsh winters
- Snowy winters — 39" per year
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
$1,846
up front: first month plus a typical one-month deposit
- Income to keep rent under 30%: $36,920 a year
- 43% of Waterloo renters spend 30% or more of their income on rent
To buy
$30,520
a 20% down payment on the median home
- With 10% down: $15,260
- Homes cost 2.7× the typical local household income (US: 4.1×)
Moving costs, closing costs and taxes not included.
The details
Cost of living▼ 35% below US
$923/mo median rent
Rent here is genuinely low, with median rent around $923 a month. Factoring in local incomes, the value gets even better. Money stretches further here than in most of the country. Home prices here are genuinely accessible, with a median around $152,600. That kind of affordability is rare in today's market.
Median home value $152,600 · 43% of renters cost-burdened
Job market▲ 16% above US
5.0% unemployment
Unemployment here is 5.0%, somewhat above the national average of 4.3%. Lining up work before the move is the safer route.
City-level (BLS)
Safety▲ 43% above US
472 violent crimes per 100k
Crime is worth weighing seriously here. Rates run above the national average, and while plenty of residents live comfortably, neighborhood selection matters a lot more than it does in a safer city.
Property crime 2566/100k · Waterloo Police Department · 2025 data
Getting around▼ 39% below US
16 min average commute
Commutes run short here, averaging 15.9 minutes. That's an underrated perk of living in a smaller or well-planned city, where time isn't lost sitting in traffic. 9 in 10 workers drive to work; 8% work from home.
How workers get to work
Climate
Summers are warm, with highs around 83°F, and winters are cold and harsh, with lows dropping to 14°F.
Average month
30-year averages, 1991–2020
Healthcare
2 hospitals
There are 2 Medicare-certified hospitals inside city limits. They average 3.5 out of 5 on Medicare's star rating.
Medicare-certified hospitals
Education & workforce▼ 39% below US
22% bachelor's degree or higher
College degree attainment runs below average at 22%. That tends to reflect a more trade and working-class economy, which can be great or limiting depending on the industry.
Schools
16 public schools inside the boundary
There are 16 public schools inside the boundary and 5 private schools. The student-to-teacher ratio is 15:1, well below the national average of 16:1. Smaller class sizes are generally a positive sign for a district.
Parks & recreation
The nearest national park or historic site is Effigy Mounds National Monument (71 miles away). There are 2 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 household incomes below the national average and crime rates above the national average. A year of median rent ($923/mo) equals 19% of the median household income here, about the same as the 21% typical nationwide. It tends to suit people watching their budget and people who want short commutes. It may be a harder fit for anyone who doesn't drive and anyone who dislikes long, cold winters.
Other places near Waterloo
All Iowa guides →Moving to Cedar Falls →
6 mi away · pop. 40,888
Rent $1,203/mo · Income $76,987
Compare with Waterloo →Moving to Marshalltown →
42 mi away · pop. 27,626
Rent $891/mo · Income $69,068
Compare with Waterloo →Not sure Waterloo is the one?
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