The size of Waterloo is approximately 55 square kilometres. The population of Waterloo in 2011 was 201 people. By 2016 the population was 78 showing a population decline of 61.2% in the area during that time. The predominant age group in Waterloo is 60-69 years. Households in Waterloo are primarily childless couples and are likely to be repaying $450 - $599 per month on mortgage repayments. In general, people in Waterloo work in a managers occupation. In 2011, 83.4% of the homes in Waterloo were owner-occupied compared with 74.2% in 2016.