The typical home in Waterloo, IA is worth about $160,000.
With 20% down that's a loan near $128,000 — the calculator
is pre-filled with that figure. John Deere's largest tractor-assembly complex sits in Waterloo, giving the metro an outsized manufacturing-wage base relative to its home prices, which remain among the lowest of any metro in this dataset.
$831.06 / month
Total interest
$171,178
Total paid
$299,178
Payoff
30.0 years
How much you need to earn
Waterloo, IA's median household income is about
$58,000 a year. Under standard 28/36
lending rules that supports a home price around
$184,224 with 20% down —
comfortably above the $160,000 typical price.
Typical asking rent in Waterloo, IA is about $950 a month, so owning the median home costs roughly
$246 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Waterloo, IA?
On the metro's roughly $160,000 typical home with 20% down, the loan is about $128,000. Principal and interest run near $831 a month at today's rate, and Waterloo, IA's property tax plus insurance add about $365, for a full payment near $1,196.
Can I afford a home in Waterloo, IA on the median income?
The median household income is about $58,000 a year. Under standard 28/36 lending rules that supports a home price around $184,224 with 20% down — above the $160,000 typical price, so a median home is within reach.
Is it cheaper to rent or buy in Waterloo, IA?
Typical asking rent is about $950 a month. The full owner payment on a median home is near $1,196, so owning costs roughly $246 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Waterloo, IA?
The effective property tax rate in the core county is about 1.55% of market value — roughly $2,480 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Waterloo, IA rising or falling?
Home values are up about 3% over the past year. John Deere's largest tractor-assembly complex sits in Waterloo, giving the metro an outsized manufacturing-wage base relative to its home prices, which remain among the lowest of any metro in this dataset.