Rent in Waterloo, IL
A 2-bedroom in Waterloo, IL (ZIP 62298) typically rents for about $1,065 a month, with a range of $979–$1,150. Owner-occupied homes in Monroe County pay about 1.63% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.32% in the week of Oct 22, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $910 | $910–$1,064 | 1 |
| 1 bed | $795 | $650–$940 | 1 |
| 2 beds | $1,065 | $979–$1,150 | 1 |
| 3 beds | $1,350 | $1,220–$1,480 | 1 |
| 4 beds | $1,700 | $1,700–$1,997 | 1 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Waterloo ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Waterloo, IL?
- About $1,065 a month: the median of the typical rents in 1 ZIP code, which range from $979–$1,150. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Waterloo, IL?
- About $795 a month: the median of the typical rents in 1 ZIP code, which range from $650–$940. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Waterloo, IL?
- About $1,350 a month: the median of the typical rents in 1 ZIP code, which range from $1,220–$1,480. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Waterloo, IL?
- About $910 a month: the median of the typical rents in 1 ZIP code, which range from $910–$1,064. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Waterloo, IL?
- About $1,700 a month: the median of the typical rents in 1 ZIP code, which range from $1,700–$1,997. Figures are gross rent (rent plus tenant-paid utilities).
- What is the property tax rate in Waterloo, IL?
- Owner-occupied homes in Monroe County pay a typical 1.63% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.32% in the week of Oct 22, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Waterloo rent figures come from?
- HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).