Waterville is located in a very scenic area of Allamakee County. The city is close to many fishing streams and bountiful hunting areas. Yellow River State Forest is nearby. This small community hosts a variety of rural businesses serving the farmers and sports people and shoppers of the area. Waterville Elementary School is a public school located within the community which has an enrollment of around 164 children in grades K-6. The current population is approximately 150.