The Residences on College Hill
2109 College St,
Cedar Falls, IA 50613
2-4 Beds | $365 - $1,500
Rental Market Trends in Waterloo, IA
Updated July 2026
The average rent in Waterloo, IA is $815/month.
Rent in Waterloo is 51% lower than the national average rent of $1,662/month, making this one of the less expensive cities statewide.
$815/month
Average Rent
621 Sq Ft
Average Size
+1%
Change / Year
399
Available Apartments
Waterloo rent varies by unit size and layout:
- Studio apartments in Waterloo average $831 per month.
- One-bedroom apartments in Waterloo average $815 per month.
- Two-bedroom apartments in Waterloo average $927 per month.
- Three-bedroom apartments in Waterloo average $1,096 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Waterloo, IA?
In the past year, rent has increased by 1%, which averages out to $8 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Waterloo, IA
July 2026
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
33%
Below $700/month
44%
$700 - $1,000/month
14%
$1,001 - $1,500/month
8%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Waterloo?
Based on current rent prices, Downtown Waterloo is the most affordable neighborhood in Waterloo.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Waterloo?
Based on current rent prices, Downtown Waterloo is the most expensive neighborhood in Waterloo.
Neighborhood
Average Rent
Average Sq Ft
Which Waterloo neighborhoods have the most rentals available?
The neighborhood in Waterloo with the most apartments available is Downtown Waterloo .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Waterloo, IA?
Because the average rent in Waterloo is $815, you’ll want to make about $2,716 per month or $32,592 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Waterloo, IA is 10.2% lower than the national average. Generally, housing in Waterloo is 12.1% less expensive than the national average, with rent falling between $815 - $1,096. You can expect to pay 3.4% less for groceries, 17.5% less for utilities, and 10.3% less for transportation.
How does Waterloo, IA compare to other nearby cities and neighborhoods?
Use the tool below to compare Waterloo, IA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Waterloo Area GuideStudio
$1,169/month
$1,169/month
One Bedroom
$1,368/month
$1,368/month
Two Bedroom
$1,451/month
$1,451/month
Three Bedroom
-
-
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Waterloo We Think You'll Love
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
Guides for Managing Your Rental
Frequently Asked Questions
What is the average rent in Waterloo?
The average rent in Waterloo is $815 per month, which is 51.0% lower than the national average of $1,662.
What is the average rent for a house in Waterloo?
The average rent for a house in Waterloo, IA is $1,374 per month.
What is the average rent for a townhome in Waterloo?
The average rent for a townhome in Waterloo, IA is $1,238 per month.
Are rents going up or down in Waterloo?
Rents in Waterloo, IA are increasing, with prices up 1.0% year-over-year and $8 more per month.
What rent range is most common in Waterloo?
In Waterloo, IA, 44% of apartments fall between $700 - $1,000/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.