2-Bedroom Apartment Rent in Waterloo, IA
Median asking rent for a 2-bedroom apartment in Waterloo, Iowa as of August 2026. That's +2% higher than the citywide median of $948 and +41% below the national 2-bedroom median of $1,655.
Income needed for a 2-bedroom in Waterloo
Using the standard 30% rent-to-income guideline (the threshold above which households are considered rent-burdened), here's what you need to earn to comfortably afford a 2-bedroom at the current median rent.
Rent by apartment size in Waterloo
Compare Waterloo's median rent across every apartment size.
Cheapest cities for a 2-bedroom in Iowa
| # | City | 2-Bedroom rent |
|---|---|---|
| 1 | Fort Dodge | $880 |
| 2 | Newton | $920 |
| 3 | Boone | $940 |
| 4 | Clinton | $940 |
| 5 | Knoxville | $940 |
| 6 | Marion | $940 |
| 7 | Marshalltown | $950 |
| 8 | Waterloo (this page) | $970 |
| 9 | Dubuque | $980 |
| 10 | Adel | $1,010 |
| 11 | Davenport | $1,014 |
| 12 | Cedar Rapids | $1,038 |
| 13 | Indianola | $1,060 |
| 14 | Coralville | $1,070 |
| 15 | Sioux City | $1,080 |
Most expensive cities for a 2-bedroom in Iowa
| # | City | 2-Bedroom rent |
|---|---|---|
| 1 | Ankeny | $1,445 |
| 2 | Johnston | $1,410 |
| 3 | Waukee | $1,390 |
| 4 | Urbandale | $1,330 |
| 5 | West Des Moines | $1,325 |
| 6 | Altoona | $1,290 |
| 7 | North Liberty | $1,280 |
| 8 | Pleasant Hill | $1,270 |
| 9 | Norwalk | $1,260 |
| 10 | Bettendorf | $1,210 |
| 11 | Grimes | $1,180 |
| 12 | Iowa City | $1,160 |
| 13 | Des Moines | $1,158 |
| 14 | Ames | $1,130 |
| 15 | Cedar Falls | $1,120 |
Nearby cities — 2-bedroom rent
Considering nearby alternatives? 3 of these cities have cheaper 2-bedroom rents than Waterloo.
| City | Distance | 2-Bedroom rent | vs Waterloo |
|---|---|---|---|
| Cedar Falls, IA | 12.5 mi | $1,120 | +$150 (+15%) |
| Marshalltown, IA | 50.1 mi | $950 | $-20 (-2%) |
| Cedar Rapids, IA | 56.4 mi | $1,038 | +$68 (+7%) |
| Marion, IA | 59.2 mi | $940 | $-30 (-3%) |
| North Liberty, IA | 67.7 mi | $1,280 | +$310 (+32%) |
| Newton, IA | 72.5 mi | $920 | $-50 (-5%) |
| Coralville, IA | 72.9 mi | $1,070 | +$100 (+10%) |
| Iowa City, IA | 78.5 mi | $1,160 | +$190 (+20%) |
| Pella, IA | 83.2 mi | $1,110 | +$140 (+14%) |
| Austin, MN | 95.4 mi | $1,050 | +$80 (+8%) |
| Ames, IA | 96.5 mi | $1,130 | +$160 (+16%) |
| Altoona, IA | 97.7 mi | $1,290 | +$320 (+33%) |
2-Bedroom rent in Waterloo — common questions
How much is a 2-bedroom apartment in Waterloo?
As of August 2026, the median 2-bedroom apartment rent in Waterloo, Iowa is $970 per month. This is +2% higher than the citywide median of $948.
What income do you need to afford a 2-bedroom in Waterloo?
Using the standard 30% rent-to-income rule, you would need an annual income of about $38,800 ($3,233/month gross), which works out to roughly $18.65/hour at a full-time job.
Is Waterloo expensive for a 2-bedroom compared to the rest of the US?
Waterloo's 2-bedroom median of $970 is +41% below the national 2-bedroom median of $1,655. It ranks in the 4th percentile of US cities tracked.
How does Waterloo rank for 2-bedroom rent in Iowa?
Among the 33 cities in Iowa with 2-bedroom data, Waterloo ranks #8 from cheapest to most expensive.
Are there cheaper 2-bedroom options near Waterloo?
Yes — nearby cities with cheaper 2-bedroom rents include Marshalltown ($950), Marion ($940), Newton ($920).