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City · 11,129 residents · Monroe County, Illinois

Waterloo , Illinois

In Waterloo, a typical home is worth $249,500 and typical rent is $886 a month. Compared with all of Monroe County, typical rent is 15% lower, the typical home value is 12% lower, and the share of households that own their home is 6 points lower.

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  • Typical home value

    $249,500

    12% below the county

    5% below Illinois

    • Waterloo
    • Monroe
    • Illinois

  • Typical rent

    $886a month

    15% below the county

    30% below Illinois

    • Waterloo
    • Monroe
    • Illinois

  • Typical household income

    $98,711a year

    4% below the county

    18% above Illinois

    • Waterloo
    • Monroe
    • Illinois

  • Households that own their home

    78%

    6 points below the county

    11 points above Illinois

    • Waterloo
    • Monroe
    • Illinois

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$322,794
2.3% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Waterloo is in Monroe County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Monroe County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Waterloo apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in East St. Louis, the typical home value is $52,600: 79% less than in Waterloo ($249,500).

  2. According to Zillow, in the 12 months to September 2026 the typical home value in Waterloo rose 2.3%; in Illinois, it rose 5.3%.

  3. 78% of households in Waterloo own their home, against 85% in Monroe County.

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Waterloo

What homes there are in Waterloo, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Waterloo, but it weighs less than in Monroe County: 78% against 84%.

Year built

By age, homes in Waterloo look like those in Monroe County: the typical year built is 1991.

There are fewer big homes in Waterloo than in Monroe County: 71% have 3 bedrooms or more, against 74%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,835 a month

Monroe County: $1,973 a month

Without a mortgage

$784 a month

Monroe County: $769 a month

Owners with a mortgage

60%

Monroe County: 59%

Owning costs less in Waterloo: with a mortgage, the typical cost is $1,835 a month; in Monroe County, $1,973. Without one, $784.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Waterloo rose 30%; in Monroe County, it rose 34%.

Since 2015–2019, the typical rent in Waterloo did not change clearly, according to the Census.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureWaterlooMonroe CountyIllinoisUnited States
Rental vacancy Unreliable estimateUnreliable estimate5.0%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate1.0%0.9%
More than one person per room Unreliable estimateUnreliable estimate2.5%3.4%
People per household 2.432.512.462.53
Drive alone 77%80%66%69%
Carpool 8%6%8%9%
Public transit Unreliable estimateUnreliable estimate6%3%
Walk or bike Unreliable estimate2%3%3%
Work from home 13%13%16%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimateUnreliable estimate20 to 29 minutes20 to 29 minutes

A household in Waterloo has 2.43 people on average, about the same as in Monroe County (2.51).

To get to work, 77% of workers in Waterloo drive alone; in Monroe County, 80%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Waterloo?

A typical home is within reach of the typical income

We start with a typical home in Waterloo, worth $249,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 27% of the typical household income in Waterloo, which is $98,711 a year.

The calculator's FHA and conventional loan limits are those of all of Monroe County.

Your numbers

Local data
$

Starts at the typical home value in Waterloo. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $8,733 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,223

at 7.18% · 30 years

Loan amount
$244,980
Total interest
$352,469
Paid off in
November 2056

Includes $4,213 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,303 a month

    Your payment · 27%

  • Tight

    $2,303 to $2,961 a month

  • Hard

    more than $2,961 a month

Compared with the typical household income in Waterloo ($98,711 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,223
Principal & interest$1,660
Property tax$349
Home insurance$104
FHA mortgage insurance (MIP)$110

You need at least $8,733 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Waterloo and Monroe County

Waterloo is in Monroe County, Illinois. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Waterloo's own numbers

Typical home value
$249,500
Typical monthly rent
$886
Typical yearly household income
$98,711
Households that own their home
78%
Effective property tax rate
1.68%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Monroe County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,349
Price change over 5 years (FHFA)
+49%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Monroe County.

Everything about Monroe County

Buying

Buying a home in Waterloo

A typical home in Waterloo is worth $249,500: 12% below the county and 5% below Illinois. With the typical household income in Waterloo ($98,711 a year), a typical home costs 2.5 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Waterloo 2.5 years
  • Monroe 2.7 years
  • Illinois 3.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Monroe County

According to FHFA’s house price index, home prices in Monroe County rose 72% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Monroe County.

Period County Illinois U.S.
Last year (2025) +6.5% +5.7% +2.9%
5 years (2020–2025) +49% +47% +47%
10 years (2015–2025) +72% +65% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Waterloo next to Monroe County, Illinois and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Waterloo $249,500
  • Monroe $282,100
  • Illinois $263,300
  • United States $332,700
Typical monthly rent
  • Waterloo $886
  • Monroe $1,042
  • Illinois $1,274
  • United States $1,413
Typical yearly household income
  • Waterloo $98,711
  • Monroe $102,880
  • Illinois $83,390
  • United States $80,734
See the full table
Waterloo next to Monroe County and Illinois
Measure Waterloo Monroe County Illinois U.S.
Typical home value $249,500 $282,100 $263,300 $332,700
Typical monthly rent $886 $1,042 $1,274 $1,413
Typical yearly household income $98,711 $102,880 $83,390 $80,734
Households that own their home 78% 85% 67% 65%
Typical yearly property tax $4,198 $4,588 $5,298 $3,119
Effective property tax rate 1.68% 1.63% 2.01% 0.94%
Renters with high rent for their income 48% 47% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Monroe County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Waterloo

For a typical $249,500 home in Waterloo, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Waterloo's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,223a month

    Least cash to close
    Down payment
    $8,733
    Cash to close
    $16,218
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $110

  • Conventional, 5% down $2,177a month

    Down payment
    $12,475
    Cash to close
    $19,960
    Rate
    7.18%
    Mortgage insurance
    PMI · $119

  • Conventional, 20% down, no PMI $1,805a month

    Down payment
    $49,900
    Cash to close
    $57,385
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,036a month

    Down payment
    $37,425
    Cash to close
    $44,910
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Waterloo and for Monroe County.

Property tax

Effective rate in Waterloo

1.68%of the home’s value each year

$4,198 a year for the typical owner in Waterloo.

  • Waterloo 1.68%
  • Monroe 1.63%
  • Illinois 2.01%

What Illinois publishes General Homestead Exemption (Illinois Department of Revenue)

Exemptions and deadlines in Illinois

Flood risk in Monroe County

FEMA does not publish these numbers by city: they are for all of Monroe County.

FEMA’s maps count no homes in the high-risk zone in Monroe County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Waterloo

Typical rent in Waterloo is $886 a month: 15% below the county. In Waterloo, 48% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Monroe County, by unit size. To pay the 2-bedroom one ($1,349 a month) without spending more than 30% of your income, you would need to earn $25.94 an hour working full time.

HUD fair market rent for all of Monroe County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,064 $20.46 $42,560
1 bedroom $1,104 $21.23 $44,160
2 bedrooms $1,349 $25.94 $53,960
3 bedrooms $1,731 $33.29 $69,240
4 bedrooms $1,997 $38.40 $79,880

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Waterloo

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Waterloo is in ZIP code 62298.

For 2 bedrooms it is $1,150: $199 less than the fair market rent for Monroe County ($1,349).

  • 62298 $1,150$1,480

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Waterloo when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Waterloo

HUD lists 3 buildings with rents for lower incomes in Waterloo. These are the largest.

  • Bella Vista Apts (FAMILY) 100 Debra Ln, Waterloo 62298 44 low-income homes · 1 bd: 16 · 2 bd: 28 · In service since 2010
  • Bella Vista Apts (SENIOR) 103 Debra Ln, Waterloo 62298 32 low-income homes · 1 bd: 24 · 2 bd: 8 · In service since 2010
  • Monroe County Apts 230 Bradford Ln, Waterloo 62298 14 low-income homes · 1 bd: 10 · 2 bd: 2 · 3 bd: 2 · In service since 1997

See all 5 buildings in Monroe County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Waterloo

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Monroe County. The nearest ones are below; many serve by phone or online.

A pregnant woman reads paperwork on the sofa while the grandmother plays with the girl on the floor.

HUD counseling is free or low-cost

Assistance programs in Waterloo

No down payment, repair or rent-help program on our list is for Waterloo or Monroe County. The ones below are statewide in Illinois: they work in Waterloo the same as in the rest of the state.

Which programs do I qualify for? All programs in Illinois

  • IHDAccess Home

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan with deferred payments for first-time buyers in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Deferred

    See the program Official page

  • IHDAccess Forgivable

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan forgiven little by little over ten years, for the down payment in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Forgivable

    See the program Official page

  • IHDAccess Deferred

    Statewide in Illinois

    Limited funds remain, per the source

    IHDA second loan with no payments until you sell or refinance, for the down payment in Illinois. Offered by Illinois Housing Development Authority (IHDA).

    Deferred

    See the program Official page

Housing counselors near Waterloo

The HUD-approved agencies closest to the center of Waterloo, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Urban League of Metropolitan ST. Louis - ST. Clair County Operations

    10220 Lincoln Trail, Fairview Heights · 19 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 6 more
    618-274-1150-126

  • Madison County Urban League

    408 E Broadway Street, Alton · 38 miles away

    • Mortgage delinquency and default
    • Fair housing pre-purchase workshops
    • and 5 more
    618-463-1906-222

  • Macoupin County Housing Authority

    760 Anderson Street, Carlinville · 67 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    217-854-8606-202

All counseling agencies in Illinois

Help in Spanish near Waterloo

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Waterloo

HUD lists no housing authority with an office in Monroe County. One in a neighboring county or the state’s may serve the area.

All housing agencies in Illinois Source: HUD

Cities

Other cities in Monroe County

These cities are also in Monroe County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Monroe County Housing in Illinois

Nearby cities

The cities closest to Waterloo, with the typical home value.

Neighboring counties

If Monroe County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Waterloo.

All guides
A father holds his baby and his young son by a white picket fence.

Questions

Housing questions about Waterloo

Short answers with the numbers for Waterloo and all of Monroe County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Waterloo?

The typical home value in Waterloo is $249,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Monroe County it is $282,100.

How much does it cost to rent in Waterloo?

Typical rent in Waterloo is $886 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Monroe County is $1,349.

What is the FHA loan limit in Waterloo?

Waterloo uses the FHA limit for all of Monroe County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Waterloo?

The typical homeowner in Waterloo pays $4,198 a year, according to the U.S. Census Bureau. That is 1.68% of the home’s value; in Monroe County, the rate is 1.63%.

Where can I find free help to buy or rent in Waterloo?

We found no HUD-approved counseling agencies with an office in Monroe County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).