Total monthly cost of ownership
Cost to Own a Home in Waterloo, Iowa
A $150,000 home here costs
$1,364per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $771. The real number is $593 higher every month — 77% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Waterloo against Black Hawk County and Iowa
| Measure | Waterloo | Black Hawk County |
|---|---|---|
| Median home value | $150,200 | $182,400 |
| Median property tax | $2,498 | $2,790 |
| Effective tax rate | 1.663% | 1.530% |
| Median gross rent | $896 | $962 |
| Population | 66,947 | 130,693 |
The weather behind that power bill
Waterloo sits in Black Hawk County, which averages a high of 85.0°F in its hottest month and a low of 10.7°F in its coldest, with 36.29" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 917 cooling and 6,714 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Black Hawk County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Black Hawk County
Full Black Hawk County cost breakdown · Every county in Iowa
Common questions
How much does it cost to own a home in Waterloo?
A $150,000 home in Waterloo, Iowa costs approximately $1,364 per month with 20% down at 6.66%. That is $771 principal and interest, $208 property tax, $65 homeowners insurance, $195 utilities and $125 set aside for maintenance.
What is the property tax rate in Waterloo?
Waterloo has an effective property tax rate of 1.663%, based on a median home value of $150,200 and median real estate taxes of $2,498. That is higher than the Black Hawk County average of 1.530%.
What is the average home price in Waterloo?
The median owner-occupied home value in Waterloo, Iowa is $150,200, against $182,400 across Black Hawk County.
Is it cheaper to rent or buy in Waterloo?
Median gross rent in Waterloo is $896 a month, against $1,364 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Waterloo — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Iowa.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.