The size of Waterloo is approximately 124.1 square kilometres. It has 5 parks covering nearly 17.1% of total area. The population of Waterloo in 2011 was 409 people. By 2016 the population was 131 showing a population decline of 68.0% in the area during that time. The predominant age group in Waterloo is 50-59 years. Households in Waterloo are primarily childless couples and are likely to be repaying $600 - $799 per month on mortgage repayments. In general, people in Waterloo work in a managers occupation. In 2011, 85.8% of the homes in Waterloo were owner-occupied compared with 82.5% in 2016.