Waverly is a village in Lancaster County, Nebraska, United States. It is part of the Lincoln, Nebraska Metropolitan Statistical Area. The population was 4,279 at the 2020 census. Waverly was platted in 1870 when the railroad was extended to that point. It was named after Walter Scott's 1814 historical novel Waverley; several of the city's street names were taken from the novel as well. Waverly was incorporated as a village in 1885. From 1921 to 1966 Waverly consolidated its school district with several surrounding school districts, allowing for the school system in Waverly to grow.