Updated · 2026 tax rules · Data: IRS, BLS, BEA, HUD · How we calculate

Cost of Living in Waterloo, IA

Waterloo-Cedar Falls, IA — prices, rents and what jobs really pay here after taxes.

Price level
87.1
U.S. average = 100 · #353 of 387
Median wage
$47,430
all jobs · $3,262/mo take-home
1-bedroom rent
$793
HUD fair market rent
▲1.8%
Pay trend: The median for all workers in Waterloo, IA rose from $46,580 (May 2024) to $47,430 (May 2025). That trailed inflation (2.4%), so buying power slipped about 0.6%.

Salary comparison calculator

What would you need to earn in Waterloo, IA to keep the same lifestyle — after taxes — as in another city?

Cost of living calculator

Uses BEA price levels plus 2026 federal and state taxes in each city's state.

Salary needed to keep your lifestyle
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    How expensive is Waterloo, IA?

    With a price level of 87.1 (U.S. average = 100), Waterloo, IA is one of the most affordable places in the country. In detail, housing costs are 37% below average; everyday goods are 6% below average; utilities are 16% below average; other services such as healthcare and dining are 7% below average. The biggest difference from the national average is in housing.

    Prices in Waterloo, IA vs. the U.S. average

    CategoryIndex (U.S. = 100)Difference
    All items87.1−12.9%
    Housing63.1−36.9%
    Goods93.7−6.3%
    Utilities83.7−16.3%
    Other services92.9−7.1%

    Source: BEA Regional Price Parities, 2024.

    Rent in Waterloo, IA

    UnitMonthly rentIncome needed (30% rule)
    Studio$717$28,680/yr
    1 bedroom$793$31,720/yr
    2 bedrooms$1,040$41,600/yr
    3 bedrooms$1,347$53,880/yr
    4 bedrooms$1,693$67,720/yr

    HUD Fair Market Rents, FY2026, population-weighted across the metro's counties.

    Salary needed to live in Waterloo, IA

    To keep the same standard of living as in an average-priced U.S. city, you would need to earn roughly:

    Salary in an average U.S. cityEquivalent in Waterloo, IATake-home here
    $40,000$34,800$29,471
    $60,000$52,200$42,791
    $80,000$69,600$55,801
    $100,000$87,100$67,447
    $150,000$130,600$96,220

    Scaled by the BEA price level (pre-tax). Take-home: single filer, Iowa 2026 taxes. For a tax-aware comparison with a specific city, use the calculator above.

    A monthly budget on the median wage

    A single worker earning Waterloo, IA's median wage of $47,430 takes home about $3,262 a month. A typical one-bedroom rents for $793, which is 24% of take-home pay — within the 30% guideline that financial planners suggest. That leaves about $2,469 a month for everything else.

    Take-home pay in Waterloo, IA

    Paycheck in Waterloo, IA
    Deductions, kids & local tax

    2026 tax year. Federal brackets from IRS Rev. Proc. 2025-32.

    Your take-home pay
    $39,139
    per year · effective tax rate 17.5%
    $3,262Monthly
    $1,631Twice a month
    $1,505Every 2 weeks
    $18.82Hourly
    • Federal income tax$3,512
    • Social Security (6.2%)$2,941
    • Medicare (1.45%)$688
    • Iowa income tax$1,151
    • Take-home pay$39,139

    Marginal rate: 12% federal + 3.80% state

    Highest-paying jobs in Waterloo, IA

    JobMedian salaryTake-homeReal value*
    Laborers and Freight, Stock, and Material Movers, Hand$47,440$39,147$44,967
    Retail Salesperson$31,270$26,769$30,749
    Fast Food and Counter Worker$27,820$24,114$27,700

    *In U.S.-average dollars after adjusting for local prices.

    Pay and living costs in Iowa cities

    Half of Iowa’s 1,559,240 workers earn less than $48,540 a year and half earn more; the middle 50% earn $36,570–$70,290 (BLS, May 2025). Prices vary a lot within the state: Ames, IA stretches a paycheck furthest, while Omaha, NE is the costliest.

    Metro areaMedian payPrice level1-BR rentRent shareLeft after rent / moBuying power*
    Omaha, NE$49,66091.9$1,14434%$2,260$44,441
    Des Moines, IA$51,82091.7$1,09231%$2,450$46,346
    Davenport, IA$48,55089.1$92828%$2,405$44,900
    Cedar Rapids, IA$49,36089.0$80024%$2,585$45,656
    Iowa City, IA$50,06091.5$93227%$2,497$44,971
    Waterloo, IA$47,43087.1$79324%$2,469$44,958
    Sioux City, IA$47,03086.5$92529%$2,311$44,918
    Dubuque, IA$48,75087.3$84125%$2,505$45,976
    Ames, IA$50,22088.8$97528%$2,465$46,465

    *Yearly take-home pay (on each metro’s median wage, single filer) in U.S.-average dollars. Price level: BEA RPP 2024 (U.S. = 100). Rent: HUD FY2026 one-bedroom fair market rent.

    Waterloo, IA vs. similar-size cities

    Metro areaPrice level1-BR rentMedian wageJobs
    Waterloo, IA87.1$793$47,43084,260
    La Crosse, WI91.8$866$48,26084,380
    Jackson, TN85.5$880$44,79084,530
    Houma, LA85.1$904$45,61083,440
    Eau Claire, WI92.8$962$48,10086,060
    Bowling Green, KY90.2$937$45,04082,160
    Hilton Head Island, SC98.0$1,623$43,85081,920

    Frequently asked questions

    Is Waterloo, IA expensive to live in?

    According to the Bureau of Economic Analysis, overall prices in the Waterloo-Cedar Falls, IA metro area are 87.1% of the U.S. average, with housing at 63.1%. It is the #353 most expensive of 387 metro areas we track.

    What salary do you need to live in Waterloo, IA?

    To match the buying power of a $60,000 salary in an average-priced U.S. city you would need about $52,234 in Waterloo, IA (before tax differences). The median wage across all jobs here is $47,430.

    Can you afford Waterloo, IA on the median wage?

    A single worker on the $47,430 median wage takes home about $3,262 a month after 2026 taxes; a one-bedroom at $793 would take 24% of that.

    How much is rent in Waterloo, IA?

    HUD’s FY2026 fair market rents for Waterloo, IA are $717 for a studio, $793 for one bedroom, $1,040 for two bedrooms and $1,347 for three bedrooms, including utilities.

    Top salaries by field in Waterloo, IA

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