In Waterloo, a typical home is worth $152,600 and typical rent is $923 a month. Compared with all of Black Hawk County, the typical home value is 19% lower and typical household income is 13% lower.
Typical home value from Zillow, September 2021 to September 2026: from $118,842 to $146,001.
Typical rent
$909a month
▲ 5.1% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $701 to $909.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Waterloo is in Black Hawk 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 Black Hawk County. See the county
What this place has that others do not, from public data, most unusual first.
1
Nearby, in Oelwein, the typical home value is $96,300: 37% less than in Waterloo ($152,600).
2
According to Zillow, in the 12 months to September 2026 the typical home value in Waterloo barely changed; in Iowa, it rose 3.3%.
3
The typical home in Waterloo is worth $152,600,19% less than in Black Hawk County as a whole ($188,900).
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
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Waterloo
Black Hawk County
Iowa
United States
Kind of home: Waterloo and its comparisons
Measure
Waterloo
Black Hawk County
Iowa
United States
Detached house
69%
70%
72%
61%
Attached house
5%
5%
5%
6%
Building of 2 to 4
6%
6%
6%
8%
Apartments (5 or more)
17%
17%
14%
19%
Mobile home
3%
3%
3%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Waterloo, 7 in 10 homes are single-family detached houses, about the same as in Black Hawk County.
Year built
Before 19601960–19791980–19992000–20092010 or later
Waterloo
Black Hawk County
Iowa
United States
Year built: Waterloo and its comparisons
Measure
Waterloo
Black Hawk County
Iowa
United States
Before 1960
48%
41%
38%
26%
1960–1979
29%
29%
24%
24%
1980–1999
11%
13%
17%
25%
2000–2009
6%
8%
11%
14%
2010 or later
6%
9%
11%
11%
Homes in Waterloo are older: the typical year built is 1962; in Black Hawk County, 1966.
Homes in Waterloo are smaller: 51% have 3 bedrooms or more; in Black Hawk County, 58%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K25%
$100K–$200K45%
$200K–$300K20%
$300K–$500K8%
$500K–$750K2%
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Waterloo and its comparisons
Measure
Waterloo
Under $100K
25%
$100K–$200K
45%
$200K–$300K
20%
$300K–$500K
8%
$500K–$750K
2%
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
By price, most homes in Waterloo sit under the FHA limit for Black Hawk County ($541,287): about 98%.
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $5007%
$500–$99954%
$1,000–$1,49932%
HUD fair market rent, 2 bedrooms: $1,096
$1,500–$1,9994%
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Waterloo and its comparisons
Measure
Waterloo
Under $500
7%
$500–$999
54%
$1,000–$1,499
32%
$1,500–$1,999
4%
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
HUD's 2-bedroom fair market rent (FMR) for Black Hawk County is $1,096; about 67% of rents in Waterloo are below it.
With a mortgage
$1,244 a month
Black Hawk County: $1,429 a month
Without a mortgage
$554 a month
Black Hawk County: $597 a month
Owners with a mortgage
62%
Black Hawk County: 62%
In Waterloo, 62% of owners have a mortgage, and their typical cost is $1,244 a month, against $1,429 in Black Hawk County. Without one it drops to $554.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Waterloo+30%
Black Hawk County+28%
Iowa+41%
United States+53%
Typical rent
Waterloo+21%
Black Hawk County+24%
Iowa+23%
United States+33%
Typical household income
Waterloo+22%
Black Hawk County+24%
Iowa+24%
United States+29%
Change since 2015–2019: Waterloo and its comparisons
Measure
Waterloo
Black Hawk County
Iowa
United States
Typical home value
+30%
+28%
+41%
+53%
Typical rent
+21%
+24%
+23%
+33%
Typical household income
+22%
+24%
+24%
+29%
Much as in Black Hawk County, the typical home value in Waterloo rose 30% since 2015–2019.
Rents in Waterloo rose at about the same pace as in Black Hawk County: 21% since 2015–2019, against 24%.
While home values in Waterloo changed +30% and rent +21%, the typical household income rose 22%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Waterloo and its comparisons
Measure
Waterloo
Black Hawk County
Iowa
United States
Rental vacancy
6.4%
6.5%
5.7%
5.5%
Homeowner vacancy
Unreliable estimate
1.3%
0.8%
0.9%
More than one person per room
3.5%
2.2%
1.6%
3.4%
People per household
2.25
2.31
2.36
2.53
Drive alone
78%
78%
76%
69%
Carpool
11%
9%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
2%
4%
3%
3%
Work from home
8%
9%
11%
15%
Other means
0%
1%
1%
2%
Typical commute
10 to 19 minutes
10 to 19 minutes
10 to 19 minutes
20 to 29 minutes
Open rentals in Waterloo look like those in Black Hawk County: the rental vacancy rate is 6.4%.
In Waterloo, 3.5% of households live with more than one person per room, against 2.2% in Black Hawk County.
A household in Waterloo has 2.25 people on average, about the same as in Black Hawk County (2.31).
In Waterloo, 78% of workers drive alone to work; in Black Hawk County, 78%.
Do the math
What would you pay each month for a home in Waterloo?
A typical home is tight for the typical income
We start with a typical home in Waterloo, worth $152,600, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 28% of the typical household income in Waterloo, which is $57,480 a year. For that payment to be 28% of income, a household would need to earn about $58,003 a year.
The calculator's FHA and conventional loan limits are those of all of Black Hawk County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Waterloo. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $5,341 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,353
at 7.18% · 30 years
Loan amount
$149,836
Total interest
$215,579
Paid off in
November 2056
Includes $2,577 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,341 a month
Tight
$1,341 to $1,724 a month
Your payment · 28%
Hard
more than $1,724 a month
Compared with the typical household income in Waterloo ($57,480 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,015
Property tax
$207
Home insurance
$64
FHA mortgage insurance (MIP)
$67
You need at least $5,341 for the down payment, plus closing costs.
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.
Total monthly payment $1,353; principal and interest $1,015.
The city and its county
Waterloo and Black Hawk County
Waterloo is in Black Hawk County, Iowa. 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
Map of Black Hawk County, Iowa, with Waterloo marked. Around it, the neighboring counties.
Waterloo
Black Hawk County
Other cities with a page
Waterloo's own numbers
Typical home value
$152,600
Typical monthly rent
$923
Typical yearly household income
$57,480
Households that own their home
62%
Effective property tax rate
1.63%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Black Hawk County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,096
Price change over 5 years (FHFA)
+38%
Homes in a high flood-risk zone
3%
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 Black Hawk County.
A typical home in Waterloo is worth $152,600: 19% below the county and 27% below Iowa. With the typical household income in Waterloo ($57,480 a year), a typical home costs 2.7 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.
Waterloo2.7 years
Black Hawk2.8 years
Iowa2.8 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Black Hawk County
According to FHFA’s house price index, home prices in Black Hawk County rose 50% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Black Hawk County.
Yearly change in FHFA’s price index in Black Hawk County, 2016 to 2025
2016: +0.6% +0.6% 2016
2017: +0.9% +0.9% 2017
2018: +3.9% +3.9% 2018
2019: +1.7% +1.7% 2019
2020: +1.3% +1.3% 2020
2021: +5.3% +5.3% 2021
2022: +12.3% +12.3% 2022
2023: +9.2% +9.2% 2023
2024: +4.8% +4.8% 2024
2025: +1.8% +1.8% 2025
Change in FHFA’s price index in Black Hawk County, Iowa and the United States
Period
County
Iowa
U.S.
Last year (2025)
+1.8%
+3.2%
+2.9%
5 years (2020–2025)
+38%
+41%
+47%
10 years (2015–2025)
+50%
+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 Black Hawk County, Iowa and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Waterloo$152,600
Black Hawk$188,900
Iowa$208,000
United States$332,700
Typical monthly rent
Waterloo$923
Black Hawk$989
Iowa$972
United States$1,413
Typical yearly household income
Waterloo$57,480
Black Hawk$66,417
Iowa$75,059
United States$80,734
See the full table
Waterloo next to Black Hawk County and Iowa
Measure
Waterloo
Black Hawk County
Iowa
U.S.
Typical home value
$152,600 ▼19% below the county
$188,900
$208,000
$332,700
Typical monthly rent
$923 ▼7% below the county
$989
$972
$1,413
Typical yearly household income
$57,480 ▼13% below the county
$66,417
$75,059
$80,734
Households that own their home
62% ▼4 points below the county
66%
72%
65%
Typical yearly property tax
$2,494 ▼12% below the county
$2,842
$2,897
$3,119
Effective property tax rate
1.63% ▲0.13 points above the county
1.5%
1.39%
0.94%
Renters with high rent for their income
45% ▼4 points below the county
49%
44%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Black Hawk 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 $152,600 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$1,353a month
Least cash to close
Down payment
$5,341
Cash to close
$9,919
Rate
7.18%
Mortgage insurance
FHA MIP · $67
Conventional, 5% down$1,325a month
Down payment
$7,630
Cash to close
$12,208
Rate
7.18%
Mortgage insurance
PMI · $72
Conventional, 20% down, no PMI$1,098a month
Down payment
$30,520
Cash to close
$35,098
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,239a month
Down payment
$22,890
Cash to close
$27,468
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Waterloo
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,353
$5,341
$149,836
7.18%
FHA MIP · $67
$9,919
580
Conventional, 5% down
$1,325
$7,630
$144,970
7.18%
PMI · $72
$12,208
620*
Conventional, 20% down, no PMI
$1,098
$30,520
$122,080
7.18%
None
$35,098
620*
ITIN, 15% down (example)
$1,239
$22,890
$129,710
8.18%
None
$27,468
Set by the lender
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.
Typical rent in Waterloo is $923 a month: 7% below the county. In Waterloo, 45% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Black Hawk County, by unit size. To pay the 2-bedroom one ($1,096 a month) without spending more than 30% of your income, you would need to earn $21.08 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Black Hawk County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$763
$14.67
$30,520
1 bedroom
$838
$16.12
$33,520
2 bedrooms
$1,096
$21.08
$43,840
3 bedrooms
$1,401
$26.94
$56,040
4 bedrooms
$1,832
$35.23
$73,280
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 has 3 ZIP codes with their own.
For 2 bedrooms it runs from $1,030 in 50701 to $1,140 in 50702.
1 of the 3 is above the fair market rent for Black Hawk County ($1,096).
2-bedroom fair market rent in each of the 3 ZIP codes of Waterloo, beside the one for Black Hawk County. For 2 bedrooms it runs from $1,030 in 50701 to $1,140 in 50702. 1 of the 3 is above the fair market rent for Black Hawk County ($1,096).
2-bedroom fair market rent in each ZIP code
Each line is one ZIP code: in color, those above the county's fair market rent; in gray, the rest.
County: $1,096
Lowest: $1,030 (50701)Highest: $1,140 (50702)
Fair market rent by ZIP code and size in Waterloo, fiscal year 2027.
50701
$720
$790
$1,030
$1,320
$1,720
50702
$790
$870
$1,140
$1,460
$1,910
50703
$750
$830
$1,080
$1,380
$1,810
ZIP code2 bd3 bd
50701 $1,030$1,320
50702 $1,140$1,460
50703 $1,080$1,380
3 of these ZIP codes cross 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 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
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.
There are 2 HUD-approved agencies with an office in Black Hawk County; 1 says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Waterloo or Black Hawk County. The ones below are statewide in Iowa: they work in Waterloo the same as in the rest of the state.
With the Iowa state authority's FirstHome mortgage, a first-time buyer can get a second loan of up to 3% of the price (maximum $10,000) or up to 5% (maximum $15,000), with no monthly payments, repaid when you sell, refinance or pay off the mortgage.Offered by Iowa Finance Authority (IFA).
Iowa state authority second loan, with the Homes for Iowans mortgage, of up to 3% of the price (maximum $10,000) or 5% (maximum $15,000) for the down payment and closing costs; no monthly payments, and for any buyer.Offered by Iowa Finance Authority (IFA).
No legal help resource on our list is for Waterloo or Black Hawk County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Waterloo and all of Black Hawk 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 $152,600, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Black Hawk County it is $188,900.
How much does it cost to rent in Waterloo?
Typical rent in Waterloo is $923 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Black Hawk County is $1,096.
What is the FHA loan limit in Waterloo?
Waterloo uses the FHA limit for all of Black Hawk 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 $2,494 a year, according to the U.S. Census Bureau. That is 1.63% of the home’s value; in Black Hawk County, the rate is 1.5%.
Where can I find free help to buy or rent in Waterloo?
There are 2 HUD-approved counseling agencies with an office in Black Hawk County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.
