Mason City, IA vs Waterloo, IA

Mason City, IA and Waterloo, IA have a very similar cost of living, with only a 1.8% difference in their overall index. Mason City scores 69 while Waterloo scores 70 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 Mason City is $874/month compared to $896/month in Waterloo — a 3% difference. Home values follow the same pattern: Mason City is more affordable at $130,000 median vs $150,200.

Median household income in Mason City is $62,369 compared to $56,344 in Waterloo (+10.7%). Mason City offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Mason City spend roughly 16.8% of their income on rent, less than the 19.1% in Waterloo.

Climate-wise, Waterloo is notably warmer with an average of 49°F compared to 45.6°F in Mason City. Waterloo receives more rainfall at 36.3" per year compared to 36.3" in Mason City.