Waucoma is a city in Fayette County, Iowa, United States. The population was 229 at the time of the 2020 census. Waucoma is located at 43°3′…Waucoma is a city in Fayette County, Iowa, United States. The population was 229 at the time of the 2020 census. Waucoma is located at 43°3′25″N 92°1′57″W / 43.05694°N 92.03250°W on the Little Turkey River.