Ankeny, IA vs Waterloo, IA

The cost of living difference between Ankeny, IA and Waterloo, IA is dramatic. Waterloo is 37.7% cheaper than Ankeny, a gap that translates to thousands of dollars per year in household expenses. Ankeny has a cost index of 97 while Waterloo sits at 70, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Ankeny is $1,279/month compared to $896/month in Waterloo — a 43% difference. Home values follow the same pattern: Waterloo is more affordable at $150,200 median vs $311,300.

Median household income in Ankeny is $106,603 compared to $56,344 in Waterloo (+89.2%). While Ankeny is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Ankeny spend roughly 14.4% of their income on rent, less than the 19.1% in Waterloo.