What HUD offices serve Waterloo, Iowa?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Iowa Public Housing and Low-Income Apartments Waiting Lists page for openings near Waterloo.
How many renters live in Waterloo, Iowa?
The City of Waterloo has people living in households.
There are renters living in renter households in this City. Renters make up 36.04 percent of the population living in Waterloo.
What is the rental market like in Waterloo, Iowa?
There are an estimated housing units in the Waterloo area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Waterloo, Iowa, there are 1.18 rental units.
What is the vacancy rate for rentals in Waterloo?
The rental vacancy rate in Waterloo is 4 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Waterloo for each bedroom size?
Occupied Rental Units by Size in Waterloo
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 464 | 2,946 | 5,312 | 2,140 | 439 |
Occupied Rental Units by Size in Waterloo
A large number of apartments in Waterloo have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Waterloo
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $640 to $1,602. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $640 |
| One BR | $737 |
| Two BR | $944 |
| Three BR | $1,250 |
| Four BR | $1,602 |
2024 Fair Market Rents in Waterloo, Iowa
How many units are rented at Fair Market Rent (FMR) in Waterloo?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 229 | 49 percent |
| One BR | 2,008 | 68 percent |
| Two BR | 3,005 | 57 percent |
Rental Units Below FMR in Waterloo, Iowa
How many affordable rental units are in Waterloo?
There are a variety of federal affordable housing programs serving households in Waterloo, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance |
Tracked Units by Federal Program in Waterloo, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Waterloo, Iowa
Waterloo features 731 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Waterloo, Iowa
There are 547 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Waterloo.
Housing Choice Vouchers in Waterloo, Iowa
On average, Section 8 Housing Choice vouchers pay Waterloo landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Waterloo.
The maximum amount a voucher would pay on behalf of a low-income tenant in Waterloo, Iowa for a two-bedroom apartment is between $850 and $1,038.
Sourced from federal housing data and AffordableHousingOnline.com research.