Waverly is an unincorporated community and census-designated place (CDP) in Harrison Township, Morgan County, in the U.S. state of Indiana.

[4] At one time, Waverly was one of two sites in the running to become Indiana's state capital.

A post office was established at Waverly in 1862, and remained in operation until it was discontinued in 1927.

[5] Located alongside the White River, the Waverly community has suffered severe flooding, most recently in 2008.

The White River forms the northern border of the community, while Interstate 69 forms the southeast border, with the nearest highway access being Exit 153, 1 mile (1.6 km) to the northeast.