As of the census of 2010, there were 7,642 people, 3,118 households, and 2,008 families residing in the town. The population density was 352.2 people per square mile. The racial makeup of the town was 95.9% White, 1.5% Black or African American, 0.1% Native American, 0.3% Asian, 0.0% Pacific Islander, 0.4% from other races, and 1.8% from two or more races. Hispanic or Latino of any race were 2.5% of the population. There were 3,118 households out of which 26.1% had children under the age of 18 living with them, 44.6% were married couples living together, 13.2% had a female householder with no husband present, and 35.6% were non-families. 28.8% of all households were made up of individuals and 11.9% had someone living alone who was 65 years of age or older. The average household size was 2.35 and the average family size was 2.83. In the town, the population was spread out with 23.5% under the age of 20, 5.7% from 20 to 24, 23.1% from 25 to 44, 29.5% from 45 to 64, and 18.2% who were 65 years of age or older. The median age was 43.3 years. For every 100 females, there were 92.3 males. For every 100 females age 18 and over, there were 89.9 males. The median income for a household in the town was $43,527, and the median income for a family was $53,625. Males had a median income of $39,743 versus $30,211 for females. The per capita income for the town was $23,147. About 7.6% of families and 10.2% of the population were below the poverty line, including 11.7% of those under age 18 and 4.6% of those age 65 or over.
Housing
There were 3,386 housing units at an average density of 156.0 per square mile. 7.9% of housing units were vacant. There were 3,118 occupied housing units in the town. 2,179 were owner-occupied units, while 939 were renter-occupied. The homeowner vacancy rate was 1.2% of total units. The rental unit vacancy rate was 10.1%.
Schools in the Town of Waterloo
Public schools
Skoi-Yase School is a public school that teaches Grades Pre-School to Grade 2. Its enrollment is about 420 students. The current principal is Liz Springer.
Lafayette Intermediate School is a public school that teaches Grades 3-5. Its enrollment is about 344 students. The current principal is Sally Covert.
Main Street Multiage School is a public school that teaches Grades K-5. Its enrollment is about 117 students. The current principal is Wendy Doyle. The school was previously the Border City Elementary School until it moved to the former middle school building.
Waterloo Middle School is a public school that teaches Grades 6-8. Its enrollment is about 546 students. The current principal is Michael Ferrara.
Waterloo High School - Grades 9-12. Its enrollment is about 608 students. The current principal is Mary Thomas-Madonna.
Private schools
Fayette Mennonite School is a private mennonite school that teaches Grades 1-8. Its enrollment is about 50 students. The current head teacher is Elizabeth Zimmerman.
Serven - A location overlapping the portions of Border City and East Geneva northeast of the Northern Terminus of 96A. Extends between 96A and Packwood Road along US-20/NY-5.
Waterloo - The Village of Waterloo on US-20/NY-5 at the south town line, partly in the Town of Fayette.