Waterloo, IA vs Ames, IA: cost of living compared
Price levels from BEA (2024); rent and home values from Zillow (September 2026).
The short answer
- Overall, Ames, IA is 2.0% more expensive than Waterloo, IA (BEA, 2024).
- To keep the same standard of living, $75,000 in Waterloo works out to about $76,500 in Ames, before taxes.
- Most of the difference is housing, which costs 9.6% more in Ames. Goods are 0.0% higher and other services 0.0% higher.
- Typical asking rent is $1,162 a month in Ames and $1,023 in Waterloo, $1,668 a year more in Ames (Zillow, September 2026).
- A typical home is valued at about $277,000 in Ames and $198,000 in Waterloo.
- The gap is about where it was in 2019 (3.3%).
derived Calculated from BEA Regional Price Parities (2024) and Zillow data. Based on an average household's spending; taxes not included. How we calculate.
Category by category
Both cities against the US average (100). The gap in each row is what matters for a move.
Housing drives the gap: 9.6% higher in Ames than in Waterloo
Price level by category, 2024. US average = 100.
- Waterloo, IA
- Ames, IA
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Waterloo, IA | Ames, IA | |
|---|---|---|
| All items | 87.1 | 88.8 |
| Goods | 93.7 | 93.7 |
| Housing (rents) | 63.1 | 69.2 |
| Utilities | 83.7 | 83.0 |
| Other services | 92.9 | 92.9 |
| Category | Waterloo | Ames | Ames vs Waterloo |
|---|---|---|---|
| All items | 87.1 | 88.8 | +2.0% |
| Goods | 93.7 | 93.7 | 0.0% |
| Housing (rents) | 63.1 | 69.2 | +9.6% |
| Utilities | 83.7 | 83.0 | −0.8% |
| Other services | 92.9 | 92.9 | 0.0% |
| Typical asking rent | $1,023 | $1,162 | +13.6% |
| Typical home value | $198,000 | $277,000 | +40.3% |
| Salary to match $75,000 in Waterloo | $75,000 | $76,500 | +2.0% |
Index values: BEA, 2024, US = 100. Rent and home values: Data Provided by Zillow Group, September 2026.
How the gap has changed since 2008
The price gap between Waterloo and Ames has narrowed since 2008: 8.0 points then, 1.8 now
Overall price level each year, 2008–2024. US average = 100.
- Waterloo, IA
- Ames, IA
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Waterloo, IA | Ames, IA | |
|---|---|---|
| 2008 | 90.4 | 82.4 |
| 2009 | 90.9 | 90.0 |
| 2010 | 92.3 | 92.9 |
| 2011 | 90.4 | 91.7 |
| 2012 | 91.0 | 92.3 |
| 2013 | 92.4 | 94.4 |
| 2014 | 92.2 | 92.9 |
| 2015 | 90.4 | 90.0 |
| 2016 | 90.5 | 88.7 |
| 2017 | 90.2 | 89.7 |
| 2018 | 91.1 | 93.9 |
| 2019 | 92.8 | 95.9 |
| 2020 | 91.0 | 93.1 |
| 2021 | 89.1 | 91.5 |
| 2022 | 87.9 | 88.4 |
| 2023 | 88.0 | 91.5 |
| 2024 | 87.1 | 88.8 |
Goods
- Waterloo, IA
- Ames, IA
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Waterloo, IA | Ames, IA | |
|---|---|---|
| 2008 | 93.9 | 77.0 |
| 2009 | 94.7 | 85.3 |
| 2010 | 96.0 | 94.3 |
| 2011 | 95.8 | 94.7 |
| 2012 | 96.8 | 95.4 |
| 2013 | 96.5 | 94.6 |
| 2014 | 97.8 | 95.1 |
| 2015 | 97.6 | 95.5 |
| 2016 | 96.7 | 94.1 |
| 2017 | 95.5 | 93.6 |
| 2018 | 95.8 | 95.8 |
| 2019 | 97.2 | 97.2 |
| 2020 | 95.5 | 95.5 |
| 2021 | 94.1 | 94.1 |
| 2022 | 93.3 | 93.3 |
| 2023 | 96.6 | 96.6 |
| 2024 | 93.7 | 93.7 |
Housing (rents)
- Waterloo, IA
- Ames, IA
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Waterloo, IA | Ames, IA | |
|---|---|---|
| 2008 | 65.1 | 67.2 |
| 2009 | 68.4 | 90.6 |
| 2010 | 72.7 | 87.0 |
| 2011 | 69.6 | 90.3 |
| 2012 | 69.8 | 86.4 |
| 2013 | 76.9 | 104.0 |
| 2014 | 75.5 | 92.9 |
| 2015 | 69.8 | 81.8 |
| 2016 | 71.4 | 80.2 |
| 2017 | 73.0 | 89.1 |
| 2018 | 69.1 | 83.7 |
| 2019 | 72.8 | 92.3 |
| 2020 | 70.0 | 80.8 |
| 2021 | 65.2 | 72.4 |
| 2022 | 66.2 | 65.8 |
| 2023 | 62.2 | 79.8 |
| 2024 | 63.1 | 69.2 |
Utilities
- Waterloo, IA
- Ames, IA
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Waterloo, IA | Ames, IA | |
|---|---|---|
| 2008 | 88.5 | 79.7 |
| 2009 | 89.3 | 80.2 |
| 2010 | 89.7 | 86.8 |
| 2011 | 88.7 | 78.2 |
| 2012 | 88.8 | 79.7 |
| 2013 | 88.7 | 81.0 |
| 2014 | 84.4 | 81.3 |
| 2015 | 83.4 | 81.2 |
| 2016 | 83.0 | 83.5 |
| 2017 | 88.9 | 85.5 |
| 2018 | 97.0 | 96.3 |
| 2019 | 96.4 | 97.3 |
| 2020 | 97.3 | 97.0 |
| 2021 | 99.3 | 98.7 |
| 2022 | 96.7 | 98.1 |
| 2023 | 87.0 | 86.2 |
| 2024 | 83.7 | 83.0 |
Other services
- Waterloo, IA
- Ames, IA
Source: U.S. Bureau of Economic Analysis, Regional Price Parities by metropolitan area, 2024 (US = 100).
Show the numbers
| Waterloo, IA | Ames, IA | |
|---|---|---|
| 2008 | 98.2 | 93.6 |
| 2009 | 98.0 | 94.7 |
| 2010 | 97.6 | 94.2 |
| 2011 | 94.3 | 90.7 |
| 2012 | 95.4 | 93.0 |
| 2013 | 96.0 | 92.2 |
| 2014 | 95.5 | 92.2 |
| 2015 | 93.5 | 89.2 |
| 2016 | 94.3 | 88.2 |
| 2017 | 93.1 | 87.5 |
| 2018 | 96.2 | 96.2 |
| 2019 | 96.3 | 96.3 |
| 2020 | 96.2 | 96.2 |
| 2021 | 95.3 | 95.3 |
| 2022 | 92.0 | 92.0 |
| 2023 | 92.3 | 92.3 |
| 2024 | 92.9 | 92.9 |
Rent and home values
Typical asking rent: $1,162 in Ames vs $1,023 in Waterloo
Typical asking rent for a new lease, dollars per month. Quarterly.
- Waterloo, IA
- Ames, IA
- United States
Source: Zillow Observed Rent Index (typical asking rent, all homes, smoothed), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Waterloo, IA | Ames, IA | United States | |
|---|---|---|---|
| Mar 2015 | – | – | $1,145 |
| Jun 2015 | – | – | $1,170 |
| Sep 2015 | – | – | $1,181 |
| Dec 2015 | – | – | $1,182 |
| Mar 2016 | – | – | $1,195 |
| Jun 2016 | $695 | – | $1,219 |
| Sep 2016 | $709 | – | $1,225 |
| Dec 2016 | $698 | – | $1,222 |
| Mar 2017 | $718 | – | $1,245 |
| Jun 2017 | $720 | – | $1,270 |
| Sep 2017 | $730 | – | $1,276 |
| Dec 2017 | $725 | $921 | $1,275 |
| Mar 2018 | $730 | $891 | $1,296 |
| Jun 2018 | $738 | $895 | $1,320 |
| Sep 2018 | $742 | $860 | $1,327 |
| Dec 2018 | $754 | $879 | $1,329 |
| Mar 2019 | $743 | $906 | $1,349 |
| Jun 2019 | $757 | $905 | $1,376 |
| Sep 2019 | $757 | $883 | $1,383 |
| Dec 2019 | $772 | $911 | $1,381 |
| Mar 2020 | $768 | $923 | $1,402 |
| Jun 2020 | $771 | $902 | $1,406 |
| Sep 2020 | $774 | $909 | $1,410 |
| Dec 2020 | $781 | $957 | $1,407 |
| Mar 2021 | $797 | $944 | $1,443 |
| Jun 2021 | $814 | $939 | $1,512 |
| Sep 2021 | $812 | $951 | $1,590 |
| Dec 2021 | $848 | $977 | $1,622 |
| Mar 2022 | $849 | $985 | $1,661 |
| Jun 2022 | $847 | $990 | $1,721 |
| Sep 2022 | $871 | $981 | $1,748 |
| Dec 2022 | $870 | $1,025 | $1,735 |
| Mar 2023 | $882 | $1,032 | $1,757 |
| Jun 2023 | $899 | $1,014 | $1,785 |
| Sep 2023 | $916 | $1,027 | $1,797 |
| Dec 2023 | $919 | $1,071 | $1,786 |
| Mar 2024 | $934 | $1,074 | $1,807 |
| Jun 2024 | $958 | $1,071 | $1,837 |
| Sep 2024 | $955 | $1,094 | $1,845 |
| Dec 2024 | $966 | $1,109 | $1,836 |
| Mar 2025 | $974 | $1,114 | $1,860 |
| Jun 2025 | $983 | $1,116 | $1,880 |
| Sep 2025 | $983 | $1,131 | $1,881 |
| Dec 2025 | $988 | $1,149 | $1,873 |
| Mar 2026 | $1,001 | $1,141 | $1,894 |
| Jun 2026 | $1,019 | $1,145 | $1,921 |
| Sep 2026 | $1,023 | $1,162 | $1,932 |
Typical home value: $277,000 in Ames vs $198,000 in Waterloo
Typical home value, dollars. Quarterly.
- Waterloo, IA
- Ames, IA
- United States
Source: Zillow Home Value Index (typical home value, middle tier, smoothed, seasonally adjusted), through September 2026. Data Provided by Zillow Group.
Show the numbers
| Waterloo, IA | Ames, IA | United States | |
|---|---|---|---|
| Mar 2015 | $129K | $169K | $189K |
| Jun 2015 | $130K | $174K | $192K |
| Sep 2015 | $131K | $176K | $195K |
| Dec 2015 | $131K | $178K | $199K |
| Mar 2016 | $132K | $179K | $202K |
| Jun 2016 | $131K | $180K | $204K |
| Sep 2016 | $131K | $182K | $206K |
| Dec 2016 | $131K | $184K | $209K |
| Mar 2017 | $130K | $185K | $213K |
| Jun 2017 | $131K | $189K | $216K |
| Sep 2017 | $131K | $191K | $219K |
| Dec 2017 | $132K | $192K | $223K |
| Mar 2018 | $133K | $194K | $227K |
| Jun 2018 | $134K | $195K | $230K |
| Sep 2018 | $135K | $196K | $234K |
| Dec 2018 | $136K | $197K | $236K |
| Mar 2019 | $138K | $197K | $239K |
| Jun 2019 | $140K | $199K | $242K |
| Sep 2019 | $142K | $199K | $244K |
| Dec 2019 | $144K | $201K | $247K |
| Mar 2020 | $144K | $202K | $252K |
| Jun 2020 | $145K | $206K | $255K |
| Sep 2020 | $147K | $208K | $260K |
| Dec 2020 | $149K | $212K | $271K |
| Mar 2021 | $150K | $215K | $282K |
| Jun 2021 | $153K | $222K | $296K |
| Sep 2021 | $157K | $227K | $306K |
| Dec 2021 | $158K | $232K | $314K |
| Mar 2022 | $163K | $239K | $330K |
| Jun 2022 | $170K | $247K | $346K |
| Sep 2022 | $172K | $249K | $348K |
| Dec 2022 | $173K | $252K | $345K |
| Mar 2023 | $173K | $252K | $343K |
| Jun 2023 | $178K | $257K | $347K |
| Sep 2023 | $181K | $259K | $352K |
| Dec 2023 | $182K | $257K | $354K |
| Mar 2024 | $183K | $255K | $357K |
| Jun 2024 | $187K | $259K | $361K |
| Sep 2024 | $187K | $260K | $361K |
| Dec 2024 | $190K | $263K | $363K |
| Mar 2025 | $194K | $266K | $364K |
| Jun 2025 | $194K | $267K | $362K |
| Sep 2025 | $196K | $270K | $362K |
| Dec 2025 | $198K | $272K | $364K |
| Mar 2026 | $199K | $275K | $366K |
| Jun 2026 | $198K | $276K | $365K |
| Sep 2026 | $198K | $277K | $366K |
More about each city
What this comparison leaves out
- Taxes. State and local income, sales and property taxes can change the result a lot, especially between states.
- Neighborhoods. These are metro-wide averages; a city center and its outer suburbs can differ by more than two metros do.
- Your own spending mix. The default uses an average household. Use the housing slider above if rent is a bigger share of your budget.
- Timing. BEA price levels are for 2024; Zillow figures are monthly and newer.