Waterloo, IL is a small city located in Monroe County, Illinois. With a population of just over 8,000 residents, it is known for its friendly community and low cost of living. Rent for a two-bedroom apartment in Waterloo is $970 a month, which is significantly lower than the US median rent of $1,430. Grocery prices are also low with an index of 98 compared to the US average of 100. The city is full of local businesses ranging from restaurants like Mayberry Café and The Coffee House to retail stores such as Rustic Seed Boutique and Soap & Such.
Waterloo has an unemployment rate of 3.3%. The US average is 6.0%.
Waterloo has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Waterloo
- The Sales Tax Rate for Waterloo is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Waterloo is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Waterloo
- The average income of a Waterloo resident is $33,218 a year. The US average is $28,555 a year.
- The Median household income of a Waterloo resident is $79,107 a year. The US average is $69,021 a year.