Highland Park, IL vs Waterloo, IL

The cost of living difference between Highland Park, IL and Waterloo, IL is dramatic. Waterloo is 79.7% cheaper than Highland Park, a gap that translates to thousands of dollars per year in household expenses. Highland Park has a cost index of 142 while Waterloo sits at 79, 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 Highland Park is $1,903/month compared to $873/month in Waterloo — a 118% difference. Home values follow the same pattern: Waterloo is more affordable at $237,900 median vs $594,400.

Median household income in Highland Park is $161,875 compared to $92,005 in Waterloo (+75.9%). The higher salaries in Highland Park partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Highland Park spend roughly 14.1% of their income on rent, more than the 11.4% in Waterloo.

Climate-wise, Waterloo is notably warmer with an average of 56.5°F compared to 50.8°F in Highland Park. Waterloo receives more rainfall at 40.8" per year compared to 32.3" in Highland Park.