RentDataNowRentDataNow
City Report · IA

Waterloo

Pop. 67,008·31st most expensive in Iowa·Waterloo rents are up 6.9% over the past year
Median rent (all units)
$898/mo
Year-over-Year
+6.9%
Month-over-Month
+1.2%
vs US Median
-$1,067
Rising (Monthly)
Be the first to discuss Waterloo rents ↓
Most AffordableMost Expensive
Waterloo · $898
More affordable than 99% of US cities · National median $1,965/mo
Rent Reality Score
57/100
Fairly priced
OverheatedFairGreat value

Rents are 3% below what Waterloo's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$898/mo
Expected by trend
$930/mo
The Rent Reality Score compares today's median rent to where Waterloo's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$663
1 BR
$740
2 BR
$970
3 BR
$1,267
4 BR+
$1,630
Research median
$970/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost
$10,776/yr
At $898/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 6.9% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+6.9% YoY, +1.2% MoM), not inventory.
Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Waterloo, IA is majority owner-occupied, has a median income below the national average, 21.8% of residents hold a bachelor's degree or higher.

Population
67,008
Median income
$57,480
Median age
36.7
Renters
37.9%
Age distribution
24.5%
23.1%
23.1%
12.3%
17%
Under 1824.5%
18–3423.1%
35–5423.1%
55–6412.3%
65+17%
Gender
49%
51%
Male49%
Female51%
Race & ethnicity
67.4%
16.6%
White67.4%
Black16.6%
Hispanic8.4%
Asian3.2%
Other4.5%
Education (25+)
34.5%
33.3%
21.8%
No HS diploma10.4%
HS diploma34.5%
Some college33.3%
Bachelor's+21.8%
Housing tenure
62.1%
37.9%
Owner62.1%
Renter37.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Waterloo, IA has changed in 5 years

Rent
$710 → $898
up 26.5%
Income
$49,430 → $57,480
up 16.3%
Population
67,695 → 67,008
down 1.0%
Renter share
39.9% → 37.9%
-2.0 pts
Bachelor's+
22.6% → 21.8%
-0.8 pts

The median rent in Waterloo, IA stood at $710 in 2021 and currently runs about $898, reflecting a 26.5% increase over the period. On the earnings side, the typical household in Waterloo, IA now reports about $57,480, up from $49,430 in 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 1.0% since 2021, moving from about 67,695 residents to roughly 67,008. Renters now make up 37.9% of households, compared with 39.9% five years ago. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and Waterloo, IA reflects that arc in its own way.

Community

Discussions about Waterloo

No discussions yet. Start the conversation.

View Waterloo rent history (2015–2026) →
Salary vs rent

Can you afford rent in Waterloo on your salary?

At $898/mo, how Waterloo rent compares to typical pay (30% rule).

By apartment size

Waterloo rent by bedroom count

Median rent for each apartment size in Waterloo. Click any size for full breakdown.

Local insights

Tips for renters in Waterloo

About renting in Waterloo, IA

Last updated: July 20, 2026

The median rent in Waterloo is $898/mo as of July 2026. A studio apartment averages $663/mo while a 2-bedroom runs $970/mo. One-bedroom apartments average $740/mo and 3-bedroom units go for $1,267/mo.

At 19% of local median household income ($57,480/yr), Waterloo ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.9% over the past year.

FAQ

Frequently asked questions

Is Waterloo an affordable city for renters?

Waterloo is considered very affordable for renters. At $898/mo, rent takes approximately 19% of the local median household income ($57,480/yr). The standard benchmark is 30%. Waterloo falls comfortably within that range.

How much income do you need to rent in Waterloo?

To keep rent at or below 30% of gross income, you would need to earn at least $36,000/year (~$17/hour full-time) to afford the median rent of $898/mo in Waterloo. The local median household income is $57,480/yr, meaning the typical Waterloo household meets that threshold.

Is rent going up or down in Waterloo?

Rent in Waterloo has increased 6.9% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Waterloo neighborhoods have the lowest rent?

The most affordable ZIP codes in Waterloo are 50703 ($860/mo), 50702 ($906/mo), and 50701 ($937/mo). Citywide, the median rent in Waterloo is $898/mo.

How does Waterloo rent compare to other cities in Iowa?

Waterloo is one of the more affordable cities in Iowa for rent, ranking #31 out of 32 tracked cities at $898/mo.

What percentage of Waterloo residents rent vs. own?

According to Census data, approximately 37.9% of Waterloo households are renters, while 62.1% are owner-occupied. Waterloo leans toward homeownership, which can mean a smaller rental inventory.

How does Waterloo rent compare to the national average?

Waterloo's median rent of $898/mo is $1,067 (54%) below the US national median of $1,965/mo. Within Iowa, it ranks #31 out of 32 tracked cities.
Income Affordability
19%
VERY AFFORDABLE

At $898/mo, rent takes ~19% of Waterloo's median household income ($57,480/yr). The standard benchmark is 30%.

Waterloo 19%Benchmark 30%
State income tax3.8%
Run the Waterloo affordability calculator →
Lowest-rent ZIP codes in Waterloo
Compare

How does this area stack up?

Pick another city or ZIP to compare.

Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Waterloo, IA

Recent submissions

Be the first to submit your rent for Waterloo.

Recent discussions

No discussions yet.