Cost of living in Waterloo, IA
169,189 people (Census 2025 estimate). Overall prices are 12.9% below the US average, with housing at 63.1 on BEA’s index (US = 100). A single renter on $60,000 keeps $1,683 a month after 2026 taxes and modeled costs.
Typical household budgets in Waterloo, IA
Computed by MoveMath’s engine with 2026 tax law, HUD Fair Market Rent for the bedrooms each household needs, DOL 2022 childcare prices for Black Hawk County, IA in current dollars, USDA Moderate-Cost food, one car per adult and $1,000 a month of other spending at US-average prices scaled by local price levels.
| Per month | Single, $60k | Couple + toddler, $110k | Family of four, $70,811 |
|---|---|---|---|
| Gross income | $5,000 | $9,167 | $5,901 |
| Taxes | $940 | $1,501 | $574 |
| Take-home pay | $4,060 | $7,666 | $5,327 |
| Housing | $838 | $1,096 | $1,096 |
| Childcare | $0 | $768 | $1,382 |
| Food | $413 | $926 | $1,202 |
| Transportation | $164 | $329 | $329 |
| Sales tax | $28 | $28 | $28 |
| Other goods & services | $933 | $933 | $933 |
| Left over | $1,683 | $3,585 | $357 |
Family of four = two adults, a preschooler and a school-age child at the metro’s median household income ($70,811). Click a column to open it in the budget planner and change any input.
Price levels: Waterloo, IA vs Iowa and the US
BEA Regional Price Parities, 2024. 100 = US average; bars compare the metro (dark) with Iowa statewide (light).
Within Iowa, Waterloo, IA ranks 7th of 8 metros on overall prices; the state as a whole is at 87.8. The dashed line marks the US average.
Rent and homeownership
| Unit | HUD Fair Market Rent | Income needed at 30% | Share of median income |
|---|---|---|---|
| Studio | $763 | $30,520 | 12.9% |
| 1-bedroom | $838 | $33,520 | 14.2% |
| 2-bedroom | $1,096 | $43,840 | 18.6% |
| 3-bedroom | $1,401 | $56,040 | 23.7% |
| 4-bedroom | $1,832 | $73,280 | 31.0% |
FY2027 FMRs for Waterloo-Cedar Falls, IA HUD Metro FMR Area: 40th-percentile gross rent (rent + tenant-paid utilities) for standard-quality units. Census median gross rent, all unit sizes: $977 (ACS 2020-2024).
Childcare prices in Black Hawk County, IA
| Age band | Center, weekly (2022) | Center, yearly today* | Home-based, weekly (2022) | Home-based, yearly today* |
|---|---|---|---|---|
| Infant (under 2) | $168 | $10,692 | $113 | $7,182 |
| Toddler (2) | $145 | $9,214 | $111 | $7,065 |
| Preschool (3–4) | $145 | $9,214 | $111 | $7,065 |
| School-age (5–12) | $116 | $7,371 | $107 | $6,829 |
DOL National Database of Childcare Prices, 2022 county medians for full-time care in Black Hawk County, IA (the metro’s principal county). *52 weeks × 1.2224, the BLS CPI change for day care and preschool from the 2022 average to 2026-08.
Taxes: what you keep in Waterloo
| Single filer, 2026 | $50,000 | $75,000 | $120,000 |
|---|---|---|---|
| Federal income tax | $3,820 | $7,670 | $17,570 |
| Social Security + Medicare | $3,825 | $5,738 | $9,180 |
| Iowa income tax | $1,288 | $2,238 | $3,948 |
| Take-home pay / month | $3,422 | $4,946 | $7,442 |
| Share of pay to taxes | 17.9% | 20.9% | 25.6% |
No mandatory local income tax for residents of Waterloo in our data. State sales tax: 6% (state rate only; local rates add on), groceries exempt.
Energy and fuel
EIA: electricity 2025, natural gas 2024, gasoline week ending 2026-10-05. Renters’ utilities are already inside gross rent.
Nearby metros
| Metro | Distance | Price level | 2-BR FMR | Single $60k left over |
|---|---|---|---|---|
| Waterloo, IA | — | 87.1 | $1,096 | $1,683 |
| Cedar Rapids, IA · compare | 50 mi | 89.0 | $1,054 | $1,715 (+$32) |
| Iowa City, IA · compare | 72 mi | 91.5 | $1,180 | $1,519 (−$164) |
| Ames, IA · compare | 72 mi | 88.8 | $1,061 | $1,577 (−$106) |
| Dubuque, IA · compare | 84 mi | 87.3 | $1,131 | $1,630 (−$53) |
| Des Moines, IA · compare | 91 mi | 91.7 | $1,360 | $1,376 (−$307) |
| Rochester, MN · compare | 105 mi | 90.8 | $1,422 | $1,179 (−$505) |
Frequently asked questions
Is Waterloo, IA expensive to live in?+
BEA’s Regional Price Parities put overall prices in the Waterloo, IA metro at 87.1 (US = 100) in 2024 — 12.9% below the national average and the 353rd highest of 387 metros. Housing is 63.1, goods 93.7.
What salary do you need to live in Waterloo, IA?+
A single renter earning $60,000 keeps $4,060 a month after 2026 taxes and has $1,683 left after rent at HUD Fair Market Rent, food, fuel, sales tax and other modeled costs. Use the cost of living calculator to find the salary that matches your current budget.
How much is rent in Waterloo, IA?+
HUD’s FY2027 Fair Market Rent — the 40th-percentile gross rent including utilities — is $838 for a 1-bedroom and $1,096 for a 2-bedroom. The Census median gross rent for all units is $977.
Does Waterloo have a local income tax?+
No mandatory local income tax applies to residents of Waterloo in our 2026 data. Iowa state income tax does apply.