Niles, IL vs Waterloo, IL

There is a significant gap in the cost of living between these two cities. Waterloo is 29.3% cheaper than Niles. With a cost index of 79 vs 102, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Waterloo to Niles should plan for substantially higher expenses across most categories.

On the housing front, median rent in Niles is $1,247/month compared to $873/month in Waterloo — a 43% difference. Home values follow the same pattern: Waterloo is more affordable at $237,900 median vs $350,900.

Median household income in Niles is $78,563 compared to $92,005 in Waterloo (-14.6%). Waterloo offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Niles spend roughly 19% 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 51.3°F in Niles. Waterloo receives more rainfall at 40.8" per year compared to 37.9" in Niles.