Objective The aim of this study was to determine the willingness to pay (WTP) for maternity waiting home (MWH) services and the associated factors among pregnant women in Simada district, Northwest Ethiopia.Design Facility-based cross-sectional study design.Setting The study was conducted in seven selected public health centres in Simada district, Northwest Ethiopia.Participants A total of 423 pregnant women who attended antenatal care at selected public health centres were included as participants.Outcome measures The outcome variable, WTP for MWHs, was estimated using the bid contingent valuation method. A Tobit regression model was used to examine the association between the predictors and the outcome variable.Results A total of 423 pregnant women participated in this study, with a response rate of 97%. The majority, 86.6% (95% CI 80.20%, 92.42%) of participants were WTP for MWHs. The mean amount of money the pregnant mothers were WTP for MWH services per day was 24.35 ETB +/- 16.85 (equivalent to US$0.76 +/- 0.53). The educational level (beta= -0.181, 95% CI (-0.306 to -0.055) and wealth status (beta=0.049, 95% CI (0.005 to 0.239) were factors significantly associated with WTP for MWH services.Conclusion The vast majority of pregnant women were WTP for MWHs. However, the mean amount of money that the participants were WTP was less than the estimated and required amount of money for MWH expenses. Educational level and wealth status were identified as predictors of WTP for MWH services. Therefore, to establish a reliable and sustainable source of funding, it is desirable to introduce a supplemental financial strategy in addition to the community contribution.