This was 24 percent lower than the state average of 46.3 percent. In 2020 the total municipality population reached 4,140.
89.9 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 | 280 | 10.1 |
| Regular high school diploma | 941 | 33.8 |
| GED or alternative credential | 523 | 18.8 |
| Some college, less than 1 year | 152 | 5.5 |
| Some college, 1 or more years, no degree | 266 | 9.6 |
| Associate's degree | 276 | 9.9 |
| Bachelor's degree | 245 | 8.8 |
| Master's degree | 76 | 2.7 |
| Professional school degree | 14 | 0.5 |
| Doctorate degree | 8 | 0.3 |
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