Can A Carpenter Afford Rent in Waterloo, IL?
Comfortably affordable — rent takes 26.1% of gross income.
Waterloo rent: January 2026. Salary: BLS OEWS May 2024 (Illinois state estimate).
About rent and a carpenter salary
Carpenter pay sits modestly above the US median household income and covers comfortable rent in most lower- and mid-cost metros. Union carpenters in high-cost cities often earn well above the BLS mean. At the national-average carpenter salary, the 30% rule supports about $1,524 a month in rent.
Cheaper rent nearby
These Illinois cities have lower median rent than Waterloo, which improves the affordability math on a carpenter salary:
Compare with full rent data for Waterloo
View full rent data for Waterloo, IL →Frequently asked questions
Can a carpenter afford rent in Waterloo, IL?
Median rent in Waterloo is $1,350 a month. A typical carpenter in Illinois earns about $62,159 a year, which makes that rent 26.1% of gross monthly income. Under the 30% rule, the answer is yes.
How much rent can a carpenter afford in Waterloo?
Using the 30% rule, a carpenter salary in Illinois (~$62,159/yr) supports up to $1,554 a month in rent. Waterloo's current median rent is $1,350/mo, which leaves a $204/mo buffer.
How many hours does a carpenter work to cover rent in Waterloo?
At an hourly equivalent of about $30 an hour, a carpenter in Illinois works roughly 45.2 hours a month to cover Waterloo's median rent of $1,350.
Where is rent cheaper than Waterloo for a carpenter?
Nearby Illinois cities with lower median rent include Swansea ($1,349/mo), Champaign ($1,348/mo), Cicero ($1,345/mo). Each shifts the affordability math materially on a carpenter salary.