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ZIP Code · IA

ZIP 50703

Part of Waterloo, IA
Pop. 17,952·Black Hawk County·52nd most expensive ZIP in Iowa
Median rent (all units)
$860/mo
Year-over-Year
+2.3%
Month-over-Month
+0.5%
vs US Median
-$1,105
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 50703 · $860
More affordable than 100% of US ZIP codes · National median $1,965/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: July 20, 2026

Annual cost
$10,320/yr
At $860/mo median
Location
StateIA
CountyBlack Hawk County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (2.3% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+2.3% YoY, +0.5% MoM), not inventory.
Demographics

Who lives here

ZIP 50703 (Waterloo, IA) is majority owner-occupied, has a median income below the national average, 13.6% of residents hold a bachelor's degree or higher.

Population
17,952
Median income
$50,060
Median age
38.5
Renters
42.2%
Age distribution
23.9%
21.8%
23.6%
14.3%
16.3%
Under 1823.9%
18–3421.8%
35–5423.6%
55–6414.3%
65+16.3%
Gender
50.5%
49.5%
Male50.5%
Female49.5%
Race & ethnicity
59.6%
24.7%
White59.6%
Black24.7%
Hispanic11.1%
Asian1.8%
Other2.9%
Education (25+)
13.8%
37.9%
34.7%
13.6%
No HS diploma13.8%
HS diploma37.9%
Some college34.7%
Bachelor's+13.6%
Housing tenure
57.8%
42.2%
Owner57.8%
Renter42.2%

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

2021 vs 2026

How ZIP 50703 in Waterloo, IA has changed in 5 years

Income
$37,738 → $50,060
up 32.7%
Population
19,270 → 17,952
down 6.8%
Renter share
45.7% → 42.2%
-3.5 pts
Bachelor's+
12.1% → 13.6%
+1.5 pts
Median age
36.6 → 38.5
+1.9 yrs

Household income in the area moved from $37,738 to $50,060 across the same window, up 32.7% versus 2021. Census counts show ZIP 50703 in Waterloo, IA losing about 1,318 residents over the five-year window, down 6.8% on net. The renter share has eased from 45.7% to 42.2%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

Tips for renters in ZIP 50703

About renting in ZIP 50703

Last updated: July 20, 2026

ZIP code 50703 covers Waterloo, IA. The median rent here is $860/mo as of July 2026. A 1-bedroom rents for a median of $810/mo. A 2-bedroom rents for a median of $1,060/mo.

At 21% of local median household income ($50,060/yr), ZIP 50703 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.3% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 50703?

As of July 20, 2026, the median monthly rent in ZIP 50703 (Waterloo, IA) is $860. This is based on aggregated data from public sources and community submissions.

How does ZIP 50703 rent compare to the US average?

ZIP 50703's median rent of $860/mo is $1,105 (56%) below the US national median of $1,965/mo.

How does ZIP 50703 compare to other ZIPs in Iowa?

ZIP 50703 is among the more affordable ZIP codes in Iowa, ranking #52 out of 55 ZIPs at $860/mo.

How much income do you need to rent in ZIP 50703?

To keep rent at or below 30% of gross income, you would need to earn at least $34,000/year (~$16/hour full-time) to afford the median rent of $860/mo in ZIP 50703. The local median household income is $50,060/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 50703?

Rent in ZIP 50703 has increased 2.3% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 50703 an affordable place to rent?

ZIP 50703 is considered very affordable for renters. At $860/mo, rent takes approximately 21% of the local median household income ($50,060/yr). The standard benchmark is 30%. ZIP 50703 falls comfortably within that range.

What percentage of ZIP 50703 residents rent vs. own?

According to Census data, approximately 42.2% of ZIP 50703 households are renters, while 57.8% are owner-occupied. ZIP 50703 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 50703 compare to the rest of Waterloo?

ZIP 50703 is more affordable than Waterloo overall. At $860/mo, it's $38 below the Waterloo citywide median of $898/mo.

When was rent data for ZIP 50703 last updated?

Rent data for ZIP 50703 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
21%
VERY AFFORDABLE

At $860/mo, rent takes ~21% of ZIP 50703's median household income ($50,060/yr). The standard benchmark is 30%.

ZIP 50703 21%Benchmark 30%
State income tax3.8%
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Schools nearby

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