Affordable & Income-Based Housing in Waterloo

Affordability in Waterloo, IA

According to Census ACS 5-Year data (2024), the median monthly rent in Waterloo is $923, against a median household income of $57,480 per year. About 38% of residents rent their homes, reflecting a sizeable renter community with real demand for income-restricted options.

Safety

According to FBI Crime Data Explorer, the Waterloo Police Department reported a violent crime rate of 484 per 100,000 residents in 2024. Note that crime rates are not directly comparable across cities due to differences in reporting methods and local definitions.

Getting Around Waterloo

According to Walk Score, the area around assisted properties in Waterloo rates 77 (Very Walkable) for walkability, 33 (Some Transit) for public transit, and 87 for bikeability.

• Walk Score: 77 - Very Walkable
• Transit Score: 33 - Some Transit
• Bike Score: 87

Residents can handle many errands on foot or by bike, though those relying on public transit will have more limited options. Scores reflect the area around assisted properties, per Walk Score.

Schools

According to NCES Common Core of Data, 16 public schools serve Waterloo across 1 district, including 10 elementary, 3 middle, and 3 high schools. Quality and programs vary by school, so renters should check the assigned schools for their specific address before making a housing decision.

Cost of Living and Rent

The median household income in Waterloo is $57,480 per year, and the median monthly rent across all rentals in the city is $923, according to Census ACS 5-Year estimates. Affordable and income-based housing in Waterloo is rent-restricted based on your household income, so your actual costs may be significantly lower.

• Median household income: $57,480/year (Census ACS 5-Year)
• Median market rent: $923/month (Census ACS 5-Year)
• Renter households: 38% of all households in Waterloo (Census ACS 5-Year)

Income-based properties in Waterloo set rents as a percentage of the Area Median Income (AMI), so qualifying renters typically pay well below the citywide median market rate.

Flood & Environmental Exposure

All 13 affordable housing properties in Waterloo were mapped for flood risk. None fall within a high-risk flood zone, according to flood zone data.