Photo: Nyttend · Public domainMeasured against area pay, Waterville costs more to live in than 82% of U.S. towns
It ranks #907 of 993 in Ohio for affordability. Up 3.3% in a year, 39% above the Ohio typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Toledo, OH metro area ($65K). How TownRatings grades cost of living
The grade compares costs with what households across the Toledo metro earn ($65K, Census 2020–24). Even so, the typical home costs 4.7 years of metro income, and 38% of renters pay 30% or more of income for housing.
In dollars
- $343Ktypical home, 39% above the Ohio typical homeZillow, September 2026
- $1,510a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 91prices across the Toledo metro, where the U.S. is 100 (housing 67)BEA Regional Price Parities, 2024
In paychecks the grade
- 4.7 yrsof area income buys the typical home; the typical U.S. town: 3.3$65K, Toledo-area income
- 26%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 38%of renters pay 30%+ of income for housing; across Ohio: 46%Census 2020–24
- 12%of owners do; the typical U.S. town: 20%Census 2020–24
What kind of housing town is Waterville?
Read from the numbers below. The page puts what stands out first.
What’s behind Waterville’s grade
Measured against what households in the area earn, Waterville is more affordable than 18% of U.S. towns, #907 of 993 in Ohio. Property tax pulls the grade down most; the share of households paying 30%+ for housing holds it up.
Prices here have kept pace with Ohio: up 27.3% in five years, against 29.8% statewide (Zillow).
Up 27.3% in five years
About the same pace as Ohio (29.8%).
Show as a table
| January | Waterville | Ohio |
|---|---|---|
| 2017 | $199,000 | $131,000 |
| 2018 | $212,000 | $139,000 |
| 2019 | $222,000 | $148,000 |
| 2020 | $232,000 | $156,000 |
| 2021 | $254,000 | $175,000 |
| 2022 | $271,000 | $193,000 |
| 2023 | $294,000 | $208,000 |
| 2024 | $309,000 | $221,000 |
| 2025 | $322,000 | $234,000 |
| 2026 | $339,000 | $242,000 |
| September 2026 | $343,000 | $246,000 |
A typical Waterville home worth $196K in October 2016 is worth about $343K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
Too few sales to read the market
Only 5 homes sold in May 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A typical home costs 4.7 years of area income
The calculator starts from the area income the grade uses. Switch to Waterville’s own median, or type yours.
That’s $111K short of a typical Waterville home.
A two-bedroom rents for about $1,510 a month here, $740 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Waterville’s typical property tax (1.57% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,510
Renters already here pay a median of $1,415.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Toledo, OH MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Property tax runs above the Ohio norm
The median bill is $4,836 (Ohio: $2,822), 1.57% of a home’s value a year, against 1.31% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Waterville
Only figures published free for the whole country, each labeled with the area it covers: the Toledo, OH metro area, or Ohio. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 91 | OH 93 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 94 | OH 94 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 96 | OH 96 | metro | BEA, 2024 |
| Other services U.S. = 100 | 99 | OH 99 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Waterville vs. its neighbors
Of the 1 towns here with a Zillow value, Waterville has the lowest. Middleton Township and Waterville Township have no Zillow value, so they are in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Waterville | C− | $343K | $308K | 1.57% | $1,510 |
| Waterville Township | C+ | — | $304K | 1.51% | $1,260 |
| Middleton Township | C+ | — | $335K | 1.37% | $1,160 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures.
Questions about the cost of living in Waterville
Is Waterville expensive to live in?
Measured against what households in the area earn, Waterville costs more than 82% of U.S. towns: a C− for cost of living, #907 of 993 in Ohio. The typical home costs 4.7 years of the median household income of the Toledo, OH metro area ($65K).
How much does a house cost in Waterville?
About $343K, Zillow’s typical value for September 2026, up 3.3% in a year. The Ohio typical home is $246K.
What salary do you need to live in Waterville?
To buy the typical home with 20% down at 6.3%, about $96,000 a year, keeping the payment (about $2,250 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $60,000.
How much is rent in Waterville?
HUD puts a two-bedroom at about $1,510 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,415 (Census 2020–24).
What are property taxes in Waterville?
The median bill is $4,836 a year, 1.57% of the median home value (Ohio: $2,822, 1.31%), from the Census 2020–24.
Are home prices in Waterville going up?
Yes: up 3.3% in the past year and 27.3% in five years, against 29.8% across Ohio (Zillow).
Neighbors talk housing
What Waterville buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.