Rentometer, Inc. | Data as of 01/10/2026
Waterloo’s rental market offers a balanced mix of historic homes and modern apartments, appealing to students, young professionals, and families alike. The city’s vibrant neighborhoods—such as the revitalized Riverfront district, the tree‑lined Kannenburg area, and the lively campus vicinity near the University of Northern Iowa—provide easy access to cultural attractions, parks, and a growing dining scene. Residents enjoy a blend of quiet residential streets and convenient proximity to shopping centers, healthcare facilities, and major employment hubs, making Waterloo an attractive place to call home.
Rental options span from efficient studio apartments in the $800s to spacious four‑plus‑bedroom units approaching the $1,500 range, reflecting the variety of living styles available. One‑bedroom apartments typically sit in the $900–$1,000 bracket, while two‑ and three‑bedroom apartments hover around the $1,000 mark, offering competitive pricing for larger families. Houses provide an added layer of affordability, with one‑bedroom units averaging the $700 range and three‑bedroom homes approaching $1,100, making them a popular choice for longer‑term renters seeking extra space. This diverse pricing landscape, combined with Waterloo’s community‑focused atmosphere and convenient amenities, supports a healthy rental environment that meets the needs of a broad spectrum of tenants.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $775 | $675 | $455 - $1,200 | $600 - $1,100 |
| Apartment | 1 Bedroom | $862 | $750 | $550 - $1,600 | $675 - $1,049 |
| Apartment | 2 Bedroom | $978 | $897 | $650 - $1,850 | $795 - $1,100 |
| Apartment | 3 Bedroom | $1,031 | $875 | $505 - $1,900 | $800 - $1,200 |
| Apartment | 4+ Bedroom | $1,556 | $1,750 | $520 - $2,400 | $520 - $2,400 |
| House | 1 Bedroom | $700 | $662 | $450 - $1,050 | $575 - $850 |
| House | 2 Bedroom | $927 | $875 | $195 - $2,200 | $795 - $995 |
| House | 3 Bedroom | $1,132 | $1,000 | $725 - $2,500 | $925 - $1,250 |
| House | 4+ Bedroom | $1,307 | $1,175 | $750 - $3,000 | $975 - $1,495 |
In the current period, the average rent in Waterloo was $788 for Studio, $783 for 1 Bedroom, $939 for 2 Bedroom, $1,127 for 3 Bedroom, and $1,317 for 4+ Bedroom.
Data provided by Rentometer, Inc.