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These days, finding an affordable place to live in the Waterloo area can be challenging. Home prices in Waterloo are now at a median cost of $356,978, higher than the Michigan average of $250,415.
The average cost of rent is $1,458/mo in Waterloo, primarily driven by the current value of real estate in the Waterloo area. In Waterloo, 4.69% of households rent, and 33.79% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Waterloo is $8,611 per month. Households that rent pay about 16.93% of their income on rent here. Waterloo’s most expensive areas are in the southeastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Trist, MI: less expensive homes
- Chelsea, MI: equally priced homes
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- Gregory, MI: less expensive homes
- Stockbridge, MI: less expensive homes
- Hell, MI: equally priced homes
- Lima Center, MI: equally priced homes
Cities with Similar Populations
- Hillsboro, KY: less expensive homes
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- Mount Crested Butte, CO: higher priced homes
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- McGregor, IA: less expensive homes
- Maugansville, MD: less expensive homes
- Longbranch, WA: higher priced homes
- Lightfoot, VA: higher priced homes
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