This was 19.8 percent lower than the state average of 47.4 percent. In 2020 the total municipality population reached 2,641.
83.9 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Waverly for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 256 | 16.1 |
| Regular high school diploma | 494 | 31 |
| GED or alternative credential | 91 | 5.7 |
| Some college, less than 1 year | 112 | 7 |
| Some college, 1 or more years, no degree | 201 | 12.6 |
| Associate's degree | 160 | 10 |
| Bachelor's degree | 219 | 13.7 |
| Master's degree | 47 | 3 |
| Professional school degree | 6 | 0.4 |
| Doctorate degree | 7 | 0.4 |
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