3-Bedroom Apartment Rent in Waterloo, IA
Median asking rent for a 3-bedroom apartment in Waterloo, Iowa as of August 2026. That's +34% higher than the citywide median of $948 and +41% below the national 3-bedroom median of $2,130.
Income needed for a 3-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 3-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 3-bedroom in Iowa
| # | City | 3-Bedroom rent |
|---|---|---|
| 1 | Knoxville | $1,130 |
| 2 | Clinton | $1,150 |
| 3 | Fort Dodge | $1,160 |
| 4 | Marshalltown | $1,250 |
| 5 | Waterloo (this page) | $1,267 |
| 6 | Newton | $1,270 |
| 7 | Dubuque | $1,290 |
| 8 | Sioux City | $1,300 |
| 9 | Boone | $1,320 |
| 10 | Marion | $1,320 |
| 11 | Davenport | $1,322 |
| 12 | Pella | $1,330 |
| 13 | Burlington | $1,350 |
| 14 | Adel | $1,360 |
| 15 | Indianola | $1,420 |
Most expensive cities for a 3-bedroom in Iowa
| # | City | 3-Bedroom rent |
|---|---|---|
| 1 | Ankeny | $1,940 |
| 2 | Johnston | $1,890 |
| 3 | Waukee | $1,870 |
| 4 | North Liberty | $1,790 |
| 5 | Urbandale | $1,785 |
| 6 | West Des Moines | $1,775 |
| 7 | Altoona | $1,730 |
| 8 | Pleasant Hill | $1,700 |
| 9 | Norwalk | $1,690 |
| 10 | Iowa City | $1,623 |
| 11 | Grimes | $1,580 |
| 12 | Bettendorf | $1,580 |
| 13 | Ames | $1,580 |
| 14 | Des Moines | $1,553 |
| 15 | Coralville | $1,500 |
Nearby cities — 3-bedroom rent
Considering nearby alternatives? 1 of these cities have cheaper 3-bedroom rents than Waterloo.
| City | Distance | 3-Bedroom rent | vs Waterloo |
|---|---|---|---|
| Cedar Falls, IA | 12.5 mi | $1,460 | +$193 (+15%) |
| Marshalltown, IA | 50.1 mi | $1,250 | $-17 (-1%) |
| Cedar Rapids, IA | 56.4 mi | $1,458 | +$191 (+15%) |
| Marion, IA | 59.2 mi | $1,320 | +$53 (+4%) |
| North Liberty, IA | 67.7 mi | $1,790 | +$523 (+41%) |
| Newton, IA | 72.5 mi | $1,270 | +$3 (0%) |
| Coralville, IA | 72.9 mi | $1,500 | +$233 (+18%) |
| Iowa City, IA | 78.5 mi | $1,623 | +$356 (+28%) |
| Pella, IA | 83.2 mi | $1,330 | +$63 (+5%) |
| Austin, MN | 95.4 mi | $1,330 | +$63 (+5%) |
| Ames, IA | 96.5 mi | $1,580 | +$313 (+25%) |
| Altoona, IA | 97.7 mi | $1,730 | +$463 (+37%) |
3-Bedroom rent in Waterloo — common questions
How much is a 3-bedroom apartment in Waterloo?
As of August 2026, the median 3-bedroom apartment rent in Waterloo, Iowa is $1,267 per month. This is +34% higher than the citywide median of $948.
What income do you need to afford a 3-bedroom in Waterloo?
Using the standard 30% rent-to-income rule, you would need an annual income of about $50,680 ($4,223/month gross), which works out to roughly $24.37/hour at a full-time job.
Is Waterloo expensive for a 3-bedroom compared to the rest of the US?
Waterloo's 3-bedroom median of $1,267 is +41% below the national 3-bedroom median of $2,130. It ranks in the 4th percentile of US cities tracked.
How does Waterloo rank for 3-bedroom rent in Iowa?
Among the 33 cities in Iowa with 3-bedroom data, Waterloo ranks #5 from cheapest to most expensive.
Are there cheaper 3-bedroom options near Waterloo?
Yes — nearby cities with cheaper 3-bedroom rents include Marshalltown ($1,250).