Cost of Living in Waterloo, IA
| Cost of Living in Waterloo, IA | Compared to State Average | Compared to National Average |
|---|---|---|
| Housing (Buy and Rent) | 7% higher | 22% lower |
| Utilities (Monthly) | 9% lower | 19% lower |
| Food | 1% lower | 4% lower |
| Healthcare | 1% higher | 5% lower |
| Transportation | 10% lower | 9% lower |
| Goods & Services | 47% lower | 13% lower |
The cost of living in Waterloo, IA is 24% lower than the state average and 14% lower than the national average. Waterloo, IA housing is 22% cheaper than the U.S average, while utilities are about 19% less pricey. When it comes to basic necessities such as food and clothing, groceries are around 4% cheaper in Waterloo, IA than in the rest of the country, while clothing costs around 13% less .
Healthcare services such as doctor check-ups and dentistry cost 5% less here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 13% cheaper in Waterloo, IA.
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Waterloo is $896, while home prices circle around $451,774.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Waterloo, energy bills cost around $145.78 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $4.65 in Waterloo, a dozen eggs go for around $3.20 and a pound of potatoes circles around $4.31.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Waterloo, an optometry check-up costs around $166.67, while a dentist appointment is priced $100.89 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.18 in Waterloo, while getting your tires balanced will run you about $50.28.
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $17.95 here. Meanwhile, a pair of women's slacks will set you back around $21.97.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Waterloo, you should budget around $12.84 a month. When it comes to personal services, a haircut usually goes for $24.60, while dry cleaning costs about $12.08.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Waterloo, the median household income is $56,344.