This was 2.2 percent lower than the state average of 33.6 percent. In 2020 the total municipality population reached 433.
93.6 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 | 20 | 6.4 |
| Regular high school diploma | 119 | 38.1 |
| GED or alternative credential | 25 | 8 |
| Some college, less than 1 year | 14 | 4.5 |
| Some college, 1 or more years, no degree | 36 | 11.5 |
| Associate's degree | 81 | 26 |
| Bachelor's degree | 7 | 2.2 |
| Master's degree | 10 | 3.2 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 0 | 0 |
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