Medical Billing and Coding Specialist Salary in Waterloo, IA: $28,296 (2026)
Quick Answer:A full-time medical billing and coding specialist in Waterloo, IA earns a median $28,296/year (≈ $13.60/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 29-2072). Once you factor in Waterloo's price level (13% below national, BEA RPP 87.1), that paycheck buys what $32,503 would nationally. Nominal pay sits 4.1% below the Iowa state average.
Official BLS data · View source
For 2026, the medical billing and coding specialist salary in Waterloo, IA, is projected to be $28,296, reflecting a decrease of around 6.76% compared to the national median of $30,349. Salaries in this role can vary significantly, with a range spanning from $22,776 at the 10th percentile to $37,400 at the 90th percentile. The data presented here is based on 2025 BLS OEWS data, projected to 2026, and gives insight into the local job market for those working in inpatient CCS, outpatient CPC, and risk adjustment specialty roles. With the demand for skilled professionals in this evolving field, understanding these salary dynamics is crucial for potential job seekers in Waterloo.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $22,776 | $10.95 |
| Lower Range (P25) | $25,809 | $12.41 |
| Median (P50)(typical) | $28,296 | $13.60 |
| Upper Range (P75) | $34,077 | $16.38 |
| Top Earners (P90) | $37,400 | $17.98 |
Median Salary Position
6.76% below the national average
2026 Salary Percentile Distribution in Waterloo
In Waterloo, IA, the medical billing and coding specialist salary spread from the 10th to 90th percentile is $14,624 (2026 est.). At $28,296, the local median is 6.76% below the national median of $30,349.
Salary Calculator
At 40 hours/week in Waterloo: You'd be in the lower-middle range
How Waterloo Medical Billing and Coding Specialist Pay Compares
Waterloo median: $28,296/year (2026)
| Compared To | Median Salary | Waterloo Pays |
|---|---|---|
| Iowa Average | $29,505 | -4.10% less |
| National Average | $30,349 | -6.76% less |
Medical Billing and Coding Specialists in Waterloo, IA earn a median of $28,296 per year (2026 est.), which is 6.76% lower than the national median of $30,349 and 4.10% below the Iowa state average of $29,505.
Cost-of-Living Adjusted Salary
Waterloo has a cost of living 12.94% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Waterloo, IA has a cost-of-living index of 87.057 (below the national average of 100). A medical billing and coding specialist earning $28,296 nominally has purchasing power equivalent to $32,503 in an average-cost city — an effective 14.87% boost.
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2021 BLS Actual
$37,850
2025 BLS Actual
$27,654
2026 Current Est.
$28,296
2021–2027 Growth
+-23.5%
Salary Trajectory for Medical Billing and Coding Specialists in Waterloo (2021–2027)
2021–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 2.32% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2021 | $37,850 | Actual |
| 2022 | $39,710 | Actual |
| 2023 | $44,300 | Actual |
| 2024 | $47,130 | Actual |
| 2025 | $27,654 | Actual |
| 2026(current) | $28,296 | Estimated |
| 2027 | $28,952 | Projected |
Based on 5 years of BLS OEWS data for the Waterloo metropolitan area, the median medical billing and coding specialist salary grew -26.9% from $37,850 (2021) to $27,654 (2025). At a 2.32% compound annual growth rate, salaries are projected to reach $28,952 by 2027 — a total increase of $-8,898 (-23.51%) from 2021.
Note: Historical values (2021–2025) are actual BLS OEWS figures for the Waterloo metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 2.32% CAGR derived from 5-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $22,776 – $25,809 |
| 3-5 years (Mid Career) | $25,809 – $28,296 |
| 5+ years (Experienced) | $28,296 – $34,077 |
| 10+ years (Top Earner) | $34,077 – $37,400 |
MBS salary ranges estimated from BLS percentile data. Individual medical billing and coding specialist compensation varies by employer, certifications, and specialization.
Medical Billing and Coding Specialist Job Market in Waterloo
The local job market currently employs about 80 medical billing and coding specialists, indicating a steady presence in the field. With a cost-of-living index of 87.057, living expenses in Waterloo are below the national average, which can enhance the purchasing power for professionals in this occupation. To maximize potential earnings, it is advisable for individuals to pursue specialization, such as inpatient CCS or risk adjustment coding, and to obtain multiple credentials from recognized bodies like AAPC and AHIMA. Additionally, the highest-paying roles are often found in hospital inpatient coding departments and consulting firms. Factors influencing the salary spectrum include credential stacking, subspecialties, and the increasingly remote nature of work, which affects compensation structures. Overall, those who stay current with industry standards, such as updates to ICD-10-CM and CMS guidelines, will find more opportunities for competitive pay in Waterloo.
More salary data for Waterloo, IA:
Frequently Asked Questions
How much do medical billing and coding specialists make in Waterloo, IA in 2026?
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Written by Amina Patel, CPC
Career Analyst
Amina has 10 years of experience in medical billing. She specializes in outpatient coding for multi-specialty practices.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $27,654 for medical billing and coding specialistsin the Waterloo metropolitan area. A 2.32% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Source: BLS, OEWS, 5-year dataset (–). Per-city data from annual BLS metropolitan area surveys.
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 2.32%, derived from historical BLS wage trends for medical billing and coding specialists (SOC 29-2072).
Compiled and verified by Amina Patel, CPC, a licensed medical billing and coding specialist with 10+ years of clinical experience. · View source data at BLS.gov