Waterloo, IA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Waterloo, IA Housing Market Trends

With 67,328 people, 28,311 houses or apartments, and a median cost of homes of $112,183, house prices in Waterloo are some of the most affordable in Iowa as well as the nation.

Single-family detached homes are the single most common housing type in Waterloo, accounting for 67.93% of the city's housing units. Other types of housing that are prevalent in Waterloo include large apartment complexes or high rise apartments ( 17.74%), duplexes, homes converted to apartments or other small apartment buildings ( 7.06%), and a few mobile homes or trailers ( 3.85%).

People in Waterloo primarily live in small (one, two or no bedroom) single-family detached homes. Waterloo has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Waterloo's housing was primarily built during this period, from the '40s through the '60s. A full 41.64% of the city's housing hails from this era. Other housing ages represented in Waterloo include homes built between 1970-1999 ( 26.39%) and housing constructed before 1939 ( 22.93%). There's also some housing in Waterloo built between 2000 and later ( 9.04%).

Vacant housing appears to be an issue in Waterloo. Fully 10.26% of the housing stock is classified as vacant. Left unchecked, vacant Waterloo homes and apartments can be a drag on the real estate market, holding Waterloo real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Waterloo Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Waterloo, where house values have increased just 19.89%, which is annualized rate of 1.83%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Waterloo appreciation rates have trailed the rest of the nation. In the last twelve months, Waterloo's appreciation rate has been 4.24%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Waterloo were at 0.23%, which equates to an annual appreciation rate of 0.92%.

Notably, Waterloo's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Iowa, our data show that Waterloo's latest annual appreciation rate is lower than 80% of the other cities and towns in Iowa.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Waterloo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Waterloo - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Waterloo real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$112,183

Waterloo, IA HOME PRICES

> $1,099,000
0.3%
0.3%
$824,001 - $1,099,000
0.1%
0.1%
$550,001 - $824,000
0.9%
0.9%
$440,001 - $550,000
0.8%
0.8%
$330,001 - $440,000
2.2%
2.2%
$220,001 - $330,000
8.5%
8.5%
$110,001 - $220,000
40.9%
40.9%
$55,001 - $110,000
33.6%
33.6%
$0 - $55,000
12.7%
12.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Very Low for IA

Value Relative To Nation

Number Of Homes And Apartments:
28,311

Waterloo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
57.40% 2.13%
3
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,005 / per month

Homeownership Rate

Owners
60.0%
60.0%
Renters
40.0%
40.0%
Vacant
10.3%
10.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
9.0%
9.0%
1970 - 1999
26.4%
26.4%
1940 - 1969
41.6%
41.6%
1939 or Older
22.9%
22.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.9%
67.9%
Townhomes
3.4%
3.4%
Small Apt. Buildings
7.1%
7.1%
Apt. Complexes
17.7%
17.7%
Mobile Homes
3.8%
3.8%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.8%
1.8%
1 Bedroom
13.3%
13.3%
2 Bedrooms
34.1%
34.1%
3 Bedrooms
38.3%
38.3%
4 Bedrooms
9.5%
9.5%
5 or more bedrooms
3.0%
3.0%
0.0% 100.0%
% OF HOMES