Morrison, IL vs Waterloo, IL

Morrison, IL and Waterloo, IL have a very similar cost of living, with only a 3.2% difference in their overall index. Morrison 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 Morrison is $1,104/month compared to $873/month in Waterloo — a 27% difference. Interestingly, home values tell a different story: while Waterloo has cheaper rent, Morrison actually has lower median home values ($117,300 vs $237,900).

Median household income in Morrison is $67,580 compared to $92,005 in Waterloo (-26.5%). 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 Morrison spend roughly 19.6% 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 49.9°F in Morrison. Waterloo receives more rainfall at 40.8" per year compared to 36.2" in Morrison.