Waterloo, IL—62298
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waterloo, IL
As of Oct '25, the median home price in Waterloo, IL is $325,000, with a year-over-year change of 6.9%. This indicates that home prices in Waterloo, IL are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $325,000 | 6.9% |
| Single Family | $327,000 | 6.9% |
| Condos | $279,000 | 10.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $184,000 | 12.2% |
2 Bed | $229,000 | 11.7% |
3 Bed | $329,000 | 7.5% |
4 Bed | $386,000 | 4.6% |
| 5 Bed | $458,000 | 4.1% |
% of Housing Stock
Rental Trends — Waterloo, IL
As of July '25, Rentcast reports the average rent in Waterloo, IL is $1,350, with a year-over-year rent change of -40.8%. Per bedroom, the median rent as of July '25 in Waterloo, IL is studios: $1,050, 1-bedrooms: $825, 2-bedrooms: $1,600, 3-bedrooms: $1,630. The most common rental property sizes in Waterloo, IL are 2-bedroom and 1-bedroom, accounting for 48.3% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,350 |
| Studio Rent | $1,050 | $1,050 |
| 1 Bed Rent | $825 | $825 |
| 2 Bed Rent | $1,600 | $1,600 |
| 3 Bed Rent | $1,800 | $1,630 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Waterloo, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Waterloo, IL is 50. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $414,000 | -5.0% |
Listing Count | 71 | 7.0% |
| Listings as % of Homes | 0.7% | 7.0% |
Days on Market | 50 | 1.0% |
Demographics — Waterloo, IL
As of the latest ACS Survey released in 2023, Waterloo, IL has a population of 17,900, which has increased by 7.8% over the past 5 years. Waterloo, IL is a moderately popular place for families, as children make up 20.0% of the population. The area has a moderately educated workforce, with 35.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,900 | 7.8% |
% Under 18 | 20.0% | -7.8% |
% Seniors | 20.2% | 18.8% |
% WFH | 12.0% | 71.4% |
% w/ College Degree | 35.2% | 24.8% |
As of the latest ACS Survey released in 2023, Waterloo, IL is a predominantly white area, with 96.9% of the population identifying as white. The white population has grown by 0.7% in the last 5 years. The second most common race or ethnicity in Waterloo, IL is hispanic, making up 1.1% of the population. Foreign-born residents account for 1.1% of the population in Waterloo, IL, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 96.9% | 0.7% |
% Black | 0.5% | 66.7% |
% Hispanic | 1.1% | -31.2% |
% Asian | 0.7% | -30.0% |
% Foreign Born | 1.1% | 0.0% |
Mortgage and Risk — Waterloo, IL
According to HUD data as of 2023, there were 384 mortgage originations in Waterloo, IL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Waterloo, IL. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 384 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Waterloo, IL
Waterloo, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $55 | $825 | $880 |
| 2 Bedroom | -$510 | $1,600 | $1,090 |
| 3 Bedroom | -$390 | $1,800 | $1,410 |
| 4 Bedroom | N/A | N/A | $1,640 |
Affordability — Waterloo, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $325,000 |
| Median Household Income | $94,100 |