Byron, IL vs Waterloo, IL

Byron, IL and Waterloo, IL have a very similar cost of living, with only a 2.7% difference in their overall index. Byron scores 77 while Waterloo scores 79 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Byron is $941/month compared to $873/month in Waterloo — a 8% difference. Interestingly, home values tell a different story: while Waterloo has cheaper rent, Byron actually has lower median home values ($182,600 vs $237,900).

Median household income in Byron is $78,235 compared to $92,005 in Waterloo (-15%). While Waterloo is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Byron spend roughly 14.4% of their income on rent, more than the 11.4% in Waterloo.