Quick facts: Waterloo, AL

Quick Facts

93
Cost of Living
below US average
183
Population
163.93
Crime Rate per 1000
above US average
$38,750
Median Income
below US average
$190,000
Median House Price
above US average
$1372
Average Rent
below US average
13%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $38,750.

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Income Needed to Buy

βœ— Stretch
$60k/year
Based on $190,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $60k vs median $38,750
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Income Needed to Rent

⚠ Stretch
$59k/year
Based on $1372/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $59k vs median $38,750
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Waterloo, AL

Waterloo, Alabama, is a small, charming town located in Lauderdale County in the northwestern part of the state. Nestled along the banks of the Tennessee River, Waterloo is known for its picturesque scenery and a tight-knit community vibe. The town offers a tranquil atmosphere with a rich history, having been established in the early 19th century. Outdoor enthusiasts will appreciate the area's access to various recreational opportunities, including fishing and boating on the Tennessee River, as well as hiking through the nearby natural landscapes. The industrial roots of the town are evident, but it has maintained a strong rural character, making it appealing to those seeking a quieter lifestyle. Culturally, Waterloo embraces Southern hospitality, with community events that foster a sense of belonging among residents. The nearby cities of Florence and Muscle Shoals provide additional amenities and entertainment, enriching the local experience. Overall, Waterloo, AL, is a serene spot ideal for nature lovers and those looking for a peaceful community while still having access to bigger urban areas.

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