The typical owner-occupied home in Waterloo is worth about $104,600, 52% below the Indiana median of $218,200 and 69% below the national median of $332,700. Owners pay a median $731 a year in property taxes, about 0.70% of their home's value, lower than the Indiana rate of 0.74%. The median household earns $67,083 a year, so the median home costs 1.6 times the median income (3.0 times for Indiana). 81% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
Waterloo at a glance
| Waterloo | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $104,600 | $218,200 | $332,700 |
| Median property tax paid per year | $731 | $1,614 | $3,119 |
| Property tax as a share of value | 0.70% | 0.74% | 0.94% |
| Median household income | $67,083 | $71,957 | $80,734 |
| Homes lived in by their owners | 81% | 71% | 65% |
| Owner homes with a mortgage | 55% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,039 | $1,404 | $1,963 |
| Those costs as a share of the owners' income | 16.9% | 18.1% | 21.0% |
| Median rent | $829 | $1,062 | $1,413 |
| Rent as a share of renters' income | 28.0% | 29.1% | 30.6% |
| Median year homes were built | 1958 | 1976 | 1980 |
| Vacant homes | 9.3% | 8.8% | 10.1% |
| Population | 2,073 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Waterloo
At this week's average 30-year rate of 7.11%, buying the median Waterloo home of $104,600 with 20% down costs about $668 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $842, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $28,608 for the 20%-down payment. That payment is 12% of the median Waterloo household income of $67,083; at that income and 20% down, the 28% guideline points to a home of about $245,000.
The median rent here is $829 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $20,920 |
|---|---|
| Loan amount | $83,680 |
| Principal and interest | $563 |
| Property taxes (0.70% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $44 |
| PMI | $0 |
| Total per month | $668 |
Change the numbers in the calculator
| Down payment | $3,661 |
|---|---|
| Loan amount | $102,705 |
| Principal and interest | $691 |
| Property taxes (0.70% a year) | $61 |
| Homeowners insurance (our estimate, 0.5% a year) | $44 |
| FHA mortgage insurance | $46 |
| Total per month | $842 |
Change the numbers in the calculator
Questions about home buying in Waterloo
What is the median home value in Waterloo?
About $104,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Waterloo?
Homeowners pay a median $731 a year, which is about 0.70% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Waterloo?
For the median home with 20% down at 7.11%, the payment is about $668 a month. Keeping that under 28% of gross income takes about $28,608 a year.
More about Waterloo
- Mortgage Refinance in Waterloo
- Debt Relief in Waterloo
- Home Equity Loans in Waterloo
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data