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ZIP Code · IA

ZIP 50702

Part of Waterloo, IA
Pop. 20,882·Black Hawk County·48th most expensive ZIP in Iowa
Median rent (all units)
$925/mo
Year-over-Year
+3.8%
Month-over-Month
-1.0%
vs US Median
-$1,026
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 50702 · $925
More affordable than 99% of US ZIP codes · National median $1,951/mo
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Medians by bedroom

Rent by unit size

Studio
$730
1 BR
$810
2 BR
$1,060
3 BR
$1,370
4 BR+
$1,780
Research median
$1,060/mo

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

Rent trends

12-month history

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Last updated: June 22, 2026

Annual cost
$11,100/yr
At $925/mo median
Location
StateIA
CountyBlack Hawk County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (3.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+3.8% YoY, -1.0% MoM), not inventory.
Demographics

Who lives here

ZIP 50702 (Waterloo, IA) is majority owner-occupied, has a median income below the national average, 21.5% of residents hold a bachelor's degree or higher.

Population
20,882
Median income
$62,021
Median age
36.1
Renters
38.8%
Age distribution
24.9%
23.6%
23.8%
12.3%
15.3%
Under 1824.9%
18–3423.6%
35–5423.8%
55–6412.3%
65+15.3%
Gender
49.1%
50.9%
Male49.1%
Female50.9%
Race & ethnicity
68.8%
12.4%
White68.8%
Black12.4%
Hispanic9.2%
Asian3.2%
Other6.4%
Education (25+)
12.1%
35.4%
31%
21.5%
No HS diploma12.1%
HS diploma35.4%
Some college31%
Bachelor's+21.5%
Housing tenure
61.2%
38.8%
Owner61.2%
Renter38.8%

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

2021 vs 2026

How ZIP 50702 in Waterloo, IA has changed in 5 years

Income
$55,026 → $62,021
up 12.7%
Population
20,270 → 20,882
up 3.0%
Renter share
38.4% → 38.8%
+0.4 pts
Bachelor's+
21.4% → 21.5%
+0.1 pts
Median age
36.6 → 36.1
-0.5 yrs

Median household income rose from $55,026 to $62,021 between 2021 and 2024, a 12.7% shift. The population has grown by 3.0% since 2021, moving from about 20,270 residents to roughly 20,882.

Community

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Local insights

Tips for renters in ZIP 50702

About renting in ZIP 50702

Last updated: June 22, 2026

ZIP code 50702 covers Waterloo, IA. The median rent here is $925/mo as of June 2026. A 1-bedroom rents for a median of $810/mo. A 2-bedroom rents for a median of $1,060/mo.

At 18% of local median household income ($62,021/yr), ZIP 50702 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 50702?

As of June 22, 2026, the median monthly rent in ZIP 50702 (Waterloo, IA) is $925. This is based on aggregated data from public sources and community submissions.

How does ZIP 50702 rent compare to the US average?

ZIP 50702's median rent of $925/mo is $1,026 (53%) below the US national median of $1,951/mo.

How does ZIP 50702 compare to other ZIPs in Iowa?

ZIP 50702 is among the more affordable ZIP codes in Iowa, ranking #48 out of 57 ZIPs at $925/mo.

How much income do you need to rent in ZIP 50702?

To keep rent at or below 30% of gross income, you would need to earn at least $37,000/year (~$18/hour full-time) to afford the median rent of $925/mo in ZIP 50702. The local median household income is $62,021/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 50702?

Rent in ZIP 50702 has increased 3.8% over the past year as of June 22, 2026, putting upward pressure on renter budgets.

Is ZIP 50702 an affordable place to rent?

ZIP 50702 is considered very affordable for renters. At $925/mo, rent takes approximately 18% of the local median household income ($62,021/yr). The standard benchmark is 30%. ZIP 50702 falls comfortably within that range.

What percentage of ZIP 50702 residents rent vs. own?

According to Census data, approximately 38.8% of ZIP 50702 households are renters, while 61.2% are owner-occupied. ZIP 50702 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 50702 compare to the rest of Waterloo?

ZIP 50702 is pricier than Waterloo as a whole. At $925/mo, it's $38 above the Waterloo citywide median of $887/mo.

When was rent data for ZIP 50702 last updated?

Rent data for ZIP 50702 reflects June 22, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
18%
VERY AFFORDABLE

At $925/mo, rent takes ~18% of ZIP 50702's median household income ($62,021/yr). The standard benchmark is 30%.

ZIP 50702 18%Benchmark 30%
State income tax3.8%
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Schools nearby

Public schools near ZIP 50702 (Waterloo, IA)

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