Commercial Real Estate Market in Waterloo, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
297 active listings and 4,392 off-market properties in Waterloo, IA. Commercial property asks $89/SF to buy and $16.74/SF/Yr to lease.
Market Trends
Waterloo, IA spans 190.3 square miles in Black Hawk County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Waterloo, IA runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Waterloo, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Waterloo, IA runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Waterloo, IA runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Industrial 65.9%
- Commercial 34.1%
- Residential 0%
Largest Zones share of zoned land by district
Agricultural
One And Two Family Residence
Planned Industrial
Light Industrial
One And Two Family Residence
Waterloo, IA zones 34,281 acres across 26 districts. Commercial zoning covers 34.1% of zoned land, residential 0% and industrial 65.9%. The largest single district is Agricultural at 41.7%. For commercial buyers the practical constraint is that only 100% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Waterloo, IA has 76,874 residents in 36,512 households. Density runs 404 people per square mile. Median household income here is $58,591 and median gross rent $895 a month.
76,874
Population
36,512
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
91%
High-School Grad
190.3 sq mi
ZIP Area
404
Density / Sq Mi
$58,591
Median Household Income
$37,839
Median Earnings
$895
Median Rent
$146,944
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Evansdale | — | — |
| Elk Run Heights | — | — |
| Raymar | — | — |
| Cedar Falls | — | $16.50 |
Commercial property in Waterloo, IA asks $89/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Waterloo?
Commercial property in Waterloo, IA asks an average of $89 per square foot. The 3 most recent recorded sales traded at a median of $43/SF, so asking sits 106% above the achieved median.
How much does it cost to lease commercial space in Waterloo?
Asking lease rates in Waterloo, IA average $16.74 per square foot per year.
What zoning applies to commercial property in Waterloo?
Waterloo, IA zones 34,281 acres across 26 districts, of which 34.1% is commercial and 65.9% industrial. The largest single district is Agricultural at 41.7% of zoned land. Residential zoning covers 0% and open space 0%.
Where does Realmo's Waterloo market data come from?
Realmo compiles Waterloo, IA figures from 5 recent recorded sales, 224 active sale listings, 73 active lease listings, 4,392 tracked off-market properties, the current Waterloo zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 224 active for-sale and 73 active for-lease listings in Waterloo, IA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 34,281 zoned acres across 26 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level, industrial vacancy is reported at Midwest region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
