Cost of Living in Waterloo, IA
Waterloo-Cedar Falls, IA — prices, rents and what jobs really pay here after taxes.
Salary comparison calculator
What would you need to earn in Waterloo, IA to keep the same lifestyle — after taxes — as in another city?
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
| Category | Index (U.S. = 100) | Difference |
|---|---|---|
| All items | 87.1 | −12.9% |
| Housing | 63.1 | −36.9% |
| Goods | 93.7 | −6.3% |
| Utilities | 83.7 | −16.3% |
| Other services | 92.9 | −7.1% |
Source: BEA Regional Price Parities, 2024.
Rent in Waterloo, IA
| Unit | Monthly rent | Income 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. city | Equivalent in Waterloo, IA | Take-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
- 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
| Job | Median salary | Take-home | Real 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 area | Median pay | Price level | 1-BR rent | Rent share | Left after rent / mo | Buying power* |
|---|---|---|---|---|---|---|
| Omaha, NE | $49,660 | 91.9 | $1,144 | 34% | $2,260 | $44,441 |
| Des Moines, IA | $51,820 | 91.7 | $1,092 | 31% | $2,450 | $46,346 |
| Davenport, IA | $48,550 | 89.1 | $928 | 28% | $2,405 | $44,900 |
| Cedar Rapids, IA | $49,360 | 89.0 | $800 | 24% | $2,585 | $45,656 |
| Iowa City, IA | $50,060 | 91.5 | $932 | 27% | $2,497 | $44,971 |
| Waterloo, IA | $47,430 | 87.1 | $793 | 24% | $2,469 | $44,958 |
| Sioux City, IA | $47,030 | 86.5 | $925 | 29% | $2,311 | $44,918 |
| Dubuque, IA | $48,750 | 87.3 | $841 | 25% | $2,505 | $45,976 |
| Ames, IA | $50,220 | 88.8 | $975 | 28% | $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 area | Price level | 1-BR rent | Median wage | Jobs |
|---|---|---|---|---|
| Waterloo, IA | 87.1 | $793 | $47,430 | 84,260 |
| La Crosse, WI | 91.8 | $866 | $48,260 | 84,380 |
| Jackson, TN | 85.5 | $880 | $44,790 | 84,530 |
| Houma, LA | 85.1 | $904 | $45,610 | 83,440 |
| Eau Claire, WI | 92.8 | $962 | $48,100 | 86,060 |
| Bowling Green, KY | 90.2 | $937 | $45,040 | 82,160 |
| Hilton Head Island, SC | 98.0 | $1,623 | $43,850 | 81,920 |
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
Food Preparation and Serving Related Occupations
- Fast Food and Counter Worker — $27,820
Sales and Related Occupations
- Retail Salesperson — $31,270