Mortgage payment estimates, closing cost breakdowns, and homebuying data for Waterloo, Iowa.
Pre-filled with Waterloo median home price and Iowa tax/insurance rates. Adjust for your property.
Estimated closing costs based on Iowa rates and fees applied to Waterloo prices.
The median home price in Waterloo is $155,000, 26% below the Iowa state median of $210,000. With a population of 67,314, Waterloo is a smaller market where home prices tend to be more accessible than in many parts of Iowa.
Property taxes in Iowa average 1.52% annually. This higher-than-average tax rate means a $155,000 home in Waterloo would carry roughly $196/month in property taxes alone — plan accordingly. Homeowners insurance in Iowa runs approximately $1,800 per year. This is within the normal range nationally.
Average rent in Waterloo is $820/month. The price-to-rent ratio in Waterloo is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Waterloo offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Iowa's IFA FirstHome program.