Cost of Living in Waterloo, IN

With a cost of living index of 67, Waterloo, IN is one of the most affordable cities in the country. Living here is 33% cheaper than the national average and 12% below the Indiana state average of 78. Waterloo is a small community of 2,180 residents.

Housing costs are the biggest factor in Waterloo's cost of living. The median monthly rent is $829 (37% below the US median of $1,319), and the median home value sits at $108,600 (64% below the national median of $304,900). At current prices, the median home costs roughly 1.8x the median household income — well within traditional affordability guidelines.

The median household income in Waterloo is $61,375, which is 18% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.