2-Bedroom Apartment Rent in Waterloo, IL
Median asking rent for a 2-bedroom apartment in Waterloo, Illinois as of March 2026. That's +19% lower than the citywide median of $1,350 and +34% 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 Illinois
| # | City | 2-Bedroom rent |
|---|---|---|
| 1 | Carbondale | $650 |
| 2 | Dixon | $870 |
| 3 | Pekin | $920 |
| 4 | Charleston | $930 |
| 5 | East Peoria | $940 |
| 6 | Quincy | $950 |
| 7 | Macomb | $960 |
| 8 | Peoria Heights | $980 |
| 9 | Rantoul | $980 |
| 10 | Rock Island | $990 |
| 11 | Decatur | $995 |
| 12 | Danville | $1,010 |
| 13 | Moline | $1,010 |
| 14 | Normal | $1,010 |
| 15 | Savoy | $1,010 |
Most expensive cities for a 2-bedroom in Illinois
| # | City | 2-Bedroom rent |
|---|---|---|
| 1 | Morton Grove | $2,640 |
| 2 | Lake Forest | $2,640 |
| 3 | Deerfield | $2,640 |
| 4 | Barrington | $2,640 |
| 5 | Wilmette | $2,530 |
| 6 | Buffalo Grove | $2,530 |
| 7 | Highland Park | $2,490 |
| 8 | Plainfield | $2,455 |
| 9 | Naperville | $2,388 |
| 10 | Vernon Hills | $2,380 |
| 11 | Streamwood | $2,380 |
| 12 | Northbrook | $2,370 |
| 13 | Bartlett | $2,340 |
| 14 | Bolingbrook | $2,325 |
| 15 | Romeoville | $2,310 |
Nearby cities — 2-bedroom rent
Considering nearby alternatives? 1 of these cities have cheaper 2-bedroom rents than Waterloo.
| City | Distance | 2-Bedroom rent | vs Waterloo |
|---|---|---|---|
| Oakville, MO | 14.9 mi | $1,200 | +$110 (+10%) |
| Mehlville, MO | 17.2 mi | $1,074 | $-16 (-1%) |
| Belleville, IL | 17.2 mi | $1,120 | +$30 (+3%) |
| Cahokia, IL | 18 mi | $1,200 | +$110 (+10%) |
| Arnold, MO | 18.1 mi | $1,230 | +$140 (+13%) |
| Swansea, IL | 19.4 mi | $1,184 | +$94 (+9%) |
| Concord, MO | 20 mi | $1,230 | +$140 (+13%) |
| Festus, MO | 20 mi | $1,090 | — |
| Affton, MO | 20.1 mi | $1,180 | +$90 (+8%) |
| Sappington, MO | 20.6 mi | $1,260 | +$170 (+16%) |
| Fairview Heights, IL | 22.3 mi | $1,320 | +$230 (+21%) |
| Saint Louis, MO | 22.4 mi | $1,241 | +$151 (+14%) |
2-Bedroom rent in Waterloo — common questions
How much is a 2-bedroom apartment in Waterloo?
As of March 2026, the median 2-bedroom apartment rent in Waterloo, Illinois is $1,090 per month. This is +19% below the citywide median of $1,350.
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 $43,600 ($3,633/month gross), which works out to roughly $20.96/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 $1,090 is +34% below the national 2-bedroom median of $1,655. It ranks in the 12th percentile of US cities tracked.
How does Waterloo rank for 2-bedroom rent in Illinois?
Among the 158 cities in Illinois with 2-bedroom data, Waterloo ranks #28 from cheapest to most expensive.
Are there cheaper 2-bedroom options near Waterloo?
Yes — nearby cities with cheaper 2-bedroom rents include Mehlville ($1,074).