The story of Downtown Waterloo has many twists and turns, much like the Cedar River which defines its landscape. As more people moved to the suburbs, longtime residents witnessed downtown’s decline as a social and economic hub. However, many are finding hope in recent efforts to attract people and businesses to the urban core. “There are good amenities, events, always things to do,” says Jared Hottle, a Realtor with Berkshire Hathaway HomeServices who has lived in Waterloo most of his life. “I think the city has done a great job of incentivizing developers to come in and build or rehabilitate properties.” Waterloo offers free land for residential, office and commercial developments downtown, contributing to the more than $130 million in private investment the corridor has seen in the past 10 years. New restaurants and retailers are popping up every year, joining an already rich landscape of museums, performance venues and civic institutions such as the Waterloo Public Library. Though most people here rent, the area has historic homes primed for renovation within walking distance of employers, restaurants and entertainment.
Downtown Waterloo is investing in attractive and appealing infrastructure.
Downtown Waterloo is undergoing a revival.
Fiesta Latina in Downtown Waterloo.
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Historic homes within walking distance to Downtown
Those who live in downtown’s arts and dining hub tend to be renters, while the riverfront area southeast of 6th Street has single-family housing mixed in with light industry and small businesses. Many of these homes are historic, with Victorians, American Foursquares and Craftsman builds dating back to the turn of the 20th century. Prices here are well below the city median, typically range between $40,000 and $120,000, though buyers should expect to invest more to repair and modernize these buildings.
Waterloo has a history of flooding, which has affected downtown homes in the past. The last major flood was in 2008, though the city has since invested $17 million in a stormwater flood pump station.
Traditional American housing is the main Downtown Waterloo architectural style.
Downtown Waterloo displays and eclectic recollection of architectural styles.
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Getting outside at the Riverview Recreation Area
Many residents here are about a mile from the Riverview Recreation Area, a 180-acre expanse with a lake for fishing and boating, two motorcross tracks and trails for all-terrain vehicles. Cyclists can hop on the Riverview Recreation Area Trail, which runs along the Cedar River and connects to the downtown hub. Nearby Rooff Park has a playground and vast open green space. In the summer, RiverLoop Expo plaza draws crowds to its splash pad and playground. The nearby Cedar Valley Sportsplex offers day passes and memberships for its pool, fitness and sports facilities and full roster of classes. For picnics and play with a view, the Cedar River waterfront is accessible by the Phelps Youth Pavilion. The center has a playground and a grassy amphitheater next door showing family-friendly movies during Cinema on the Cedar.
Riverview Recreational Park has plenty of family for Downtown Waterloo locals.
Riverview Recreation Area
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Students can continue on to Hawkeye Community College or UNI
Lowell Elementary serves the neighborhood’s youngest kids, who move on to Bunger Middle School. Both have a C-minus from Niche. West High has a B-minus rating and offers career pathways in health and human services, the arts, and engineering. Graduates can take classes at Hawkeye Community College's Adult Learning Center within the neighborhood, or apply to the University of Northern Iowa 7 miles away.
Winter WonderLoo events draw thousands
Downtown Waterloo hosts a full calendar of events, including Cedar Valley Pridefest in August and the Iowa Irish Fest, the state’s largest celebration of Celtic culture. Main Street Waterloo hosts Winter WonderLoo, a season-long celebration with a holiday pub crawl, concert series, Santa visits and a tree lighting.
Access to Route 218
The Cedar River and U.S. Route 218 sandwich the neighborhood. There are few Metropolitan Transit Authority bus stops where single-family homes reside, though narrow sidewalks do connect to the main downtown area a mile away.
New restaurants and businesses popping up Downtown
Lifelong residents like Rick Bauer have seen Downtown Waterloo ebb and flow. “Downtown constantly changes,” Bauer says. He works in Waterloo as a broker and owner of Re/Max Home Group. “It used to be where all the shopping was and businesses, and then it went to the shopping centers, the malls.” In the past 10 years, however, this trend has started to reverse. Downtown Waterloo gained 10 new businesses in 2022 alone, while shopping malls have been steadily abandoned. “We’ve got a mall in Cedar Falls and one in Waterloo and I don’t even know if they’re 5% full.”
Downtown’s dining highlights include The Brown Bottle, a family-owned Italian restaurant, and SingleSpeed Brewing, serving craft beer and eclectic eats in a traditional beer hall and outdoor beer garden. The brewery occupies the city’s former Wonder Bread factory, still adorned with neon signs reading “Hostess Cake” and “Home of Wonder Bread.” Locals can cross the river for brunch at Morg’s, which often has a line out front, or live music at the Screaming Eagle.
Big box stores and chain grocers like Target and Hy-Vee are a few miles away near Crossroads Mall. For smaller trips and specialty goods, residents can shop at La Placita Mexican Store or Shwe Nyiko Market and Asian Food.
Singlespeed by Downtown Waterloo is a modern and innovative brewery.
The Riverloop Expo Center in the jewel of Downtown Waterloo.
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Family-friendly attractions along the Cedar River
Downtown’s attractions serve diverse interests and all ages. Locals can attend family storytimes, writing workshops, or even join a Mario Kart competition at the recently remodeled Waterloo Public Library. The Young Arena hosts public ice skating and hockey games, and the Waterloo Center for the Arts showcases local visual and performing artists. The Waterloo Convention Center was renovated in 2021, attracting more conferences and expositions to the city.
Riverview Recreation Area
The Big Guitar Park hosts events in Downtown Waterloo.
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Turnkey triplex in Waterloo, Iowa – vacant and ready for tenants! Live in one unit and rent out the others. Separate electric and gas meters. Previously rented for $2,000/month when fully occupied. Opportunity for extra income with laundry
Jared HottleBerkshire Hathaway Home Services One Realty Centre
Art Bloc is more than a building, it’s a landmark in downtown Waterloo. Located conveniently in the middle of Waterloo’s thriving art district, Art Bloc allows you to live, work, and play in an eclectic setting. Everything you desire is close at hand, from craft brewpubs and local dining to retail shops and a vibrant nightlife. These luxurious apartments are at the center of the Waterloo downtown
CURRENT SPECIALS- $500 deposit. We'll waive the deposit for military & first responders.- Afraid of commitment? We have flexible lease lengths!SNAPSHOT- A new complex in a prime location- Easy access to Hwy 218 and Hwy 63- Property Manager on-site- Ideal for students or professionals working in Cedar Falls, Waterloo, or surrounding areas- Walking distance to
The past and present live harmoniously together in the magnificently restored Russell Lamson Hotel. Here you can enjoy relaxing scenic river views and walk to downtown shopping, restaurants & entertainment. The new and completely renovated 8-story Russell Lamson building offers luxury living at a truly affordable price. Our community consists of 90 remodeled apartment homes, each of which has
Interested in learning more about homes in this area?
Reach out to
Karen Kayser,
an experienced agent in this neighborhood.
Average Home Value
Source: Public Records
Property Mix - Square Feet
This Neighborhood Has More Renters
Demographics
Total Population
877
Median Age
42
Population Density
3 ppl/acre
Population under 18
18.9%
On par with the national average
23.8%
Population over 65
21.8%
On par with the national average
19.1%
Finances
Median Household Income
$44,010
Significantly below the national average
$71,702
Average Household Income
$67,202
Education and Workforce
High School Graduates
88%
College Graduates
32.2%
On par with the national average
34.1%
Advanced Degrees
14.7%
% Population in Labor Force
52.5%
Below the national average
65.1%
Weather
Annual Precipitation
36''
Average Winter Low Temperature
11°F
Average Summer High Temperature
85°F
Annual Snowfall
24''
Area Factors
Very Bikeable
Bike Score®
83/ 100
Somewhat Walkable
Walk Score®
66/ 100
Some Transit
Transit Score®
34/ 100
Source: Walk Score
Source: Walk Score
Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
