Waterloo, Iowa Income Statistics
Waterloo Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
Waterloo Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Waterloo | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $57,402 | $75,133 | $80,455 |
| Median Personal Income | $48,178 | $57,332 | $60,758 |
| Average Yearly Income Growth | 3.3% | 4.0% | 4.8% |
| Six-Figure Earners | 5.3% | 10.5% | 13.9% |
| $200k+ Households | 3.6% | 8.6% | 13.2% |
The median household income in Waterloo is about 24% lower than in Iowa. Income has been growing slower in Waterloo (3.3%/yr) than in Iowa (4.0%/yr).
About 5% of adults in Waterloo earn six figures ($100,000 or more) a year, lower than the Iowa average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Waterloo, Iowa grew by 48.8% from 2009 to 2024, reaching $57,402 in 2024. That's an average of about 3.3% per year.
Income Inequality and the Gender Pay Gap in Waterloo
| Metric | Waterloo | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.486 | 0.510 | 0.552 |
| Male Median Income | $53,502 | $66,524 | $69,667 |
| Female Median Income | $45,708 | $52,524 | $56,850 |
| Gender Pay Gap | 14.6% | 21.0% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Waterloo, it is 0.486, lower than Iowa's 0.510, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 17% more than women's income in Waterloo, Iowa. Over a 35-year career, a 17% wage gap accumulates to roughly $272,790 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Waterloo, Iowa has narrowed from about 24% to 15% in 2024. Over that period the gap was widest at 24% in 2010, and was narrowest at 13% in 2022. In dollar terms, the gap has narrowed by $1,314 since 2009.
Employment
| Metric | Waterloo | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.3% | 3.6% | 5.2% |
| Working from Home | 7.7% | 11.3% | 15.0% |
| Commute time (minutes) | 13 | 16 | 22 |
Approximately 1,750 people are unemployed in Waterloo, Iowa.
The average commute time in Waterloo is 13 minutes, shorter than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Waterloo, Iowa has fallen from 7.9% to 5.3% in 2024. Over that period the rate peaked at 9.6% in 2013.
Waterloo, IA Wealth Compared With Nearby Cities
How Waterloo, IA compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Waterloo, IA | 64,027 | $57,402 #2/2 | 3.3%/yr #1/2 | 5.3% #2/2 | 0.486 #1/2 |
| Cedar Falls, IA | 33,959 | $72,891 | 3.0%/yr | 3.6% | 0.560 |
Conclusion
Considering all these factors, Waterloo, Iowa has an overall wealth index grade of C, making it somewhat worse than Iowa, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Waterloo, Iowa.
How Rich Is Waterloo, Iowa?
Waterloo has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $57,402, about 24% lower than the Iowa average of $75,133.
How has median household income changed in Waterloo, Iowa?
Between 2009 and 2024, the median household income in Waterloo, Iowa rose 49%, from $38,574 to $57,402. Over the same years, income here lagged behind Iowa as a whole: +49% against +56%.
What was the median household income in Waterloo in 2023?
In 2023, the median household income in Waterloo, Iowa was $56,786, up 5% from $53,983 in 2022. The Iowa median that year was $73,347.
What was the median household income in Waterloo in 2020?
In 2020, the median household income in Waterloo, Iowa was $47,323. By 2024 it had risen 21% to $57,402.
Is unemployment high in Waterloo, Iowa?
Unemployment in Waterloo, Iowa is 5.3%, well above the Iowa rate of 3.6%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Waterloo, Iowa?
The Gini coefficient in Waterloo is 0.486. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Waterloo, Iowa?
Since 2009, the income gap between men and women in Waterloo, Iowa has narrowed from about 24% to 15% in 2024. Over that period the gap was widest at 24% in 2010, and was narrowest at 13% in 2022. In dollar terms, the gap has narrowed by $1,314 since 2009.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →