The town of Waverly is located in the U.S. state of Alabama. It is within both Chambers and Lee counties and included in the Auburn Metropolitan Area. The elevation is 761 feet above sea level. The town became an incorporated in 1910. The first settlement was during the 1830s. Waverly has an own post office with Zip code 36879. The town was once given a nickname Pea Ridge. As of 2010 census, Waverly total population was 145 people. The population density was 54.33/sq mi.