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Waterman, IL Home for Rent

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  • 142 E Lincoln Hwy, Waterman, IL 60556
    142 E Lincoln Hwy, Waterman, IL 60556
    142 E Lincoln Hwy, Waterman, IL 60556
    /21

    $1,625 Per Month

    • 3 Beds
    • 1.5 Baths
    • 1,300 Sq Ft
    • Townhouse for Rent

    142 E Lincoln Hwy, Waterman, IL 60556

    Nice 3 bedroom, 1.5 bathroom townhome with partially finished basement and 1-car detached garage. Includes stove, fridge, dishwasher, washer, & dryer. Tenants are responsible for gas, electric, water, garbage and snow removal. No cats. Dogs accepted at P.M's discretion. No cats, dogs at property managers discretion. No smoking

    142 E Lincoln Hwy, Waterman, IL 60556
Illinois DeKalb County

Homes for Rent in Waterman, IL

Why Live in Waterman

Waterman, Illinois, is a village of about 1,500 residents, known for its agricultural roots and peaceful lifestyle. Bayer Crop Science’s seed corn processing plant is the largest local employer, reflecting the area's farming heritage. Recreational activities include hiking and fishing at Lions Community Park, which has a playground and walking trail. Nearby Shabbona Lake State Park offers fishing, boating and winter sports, while the Aurora Sportsmen’s Club provides gun and archery ranges. Housing in Waterman features everything from early 1900s cottages and National Folk-style homes to midcentury ranch styles and modern designs in the Green Ridge subdivision. Homes in the village center are shaded by trees, while those in rural areas have acreage and often feature barns or silos. Occasional noise from passing freight trains occurs near the railroad. Waterman has a lower crime risk compared to the national average. The village hosts the Waterman Lions Summerfest and Antique Tractor and Truck Show, a mid-July event with antique tractors, craft vendors, train rides, live music and fireworks. Dining options include Pub West and Wild Carrot Cooking Company, with more shopping available in nearby Hinckley and DeKalb. Indian Creek Elementary School is highly rated, and the high school offers dual-credit courses through Kishwaukee College. State Route 23 and U.S. Route 30 connect Waterman to Aurora and Chicago, with Chicago Rockford International Airport 50 miles north.

Learn more about living in Waterman

Frequently Asked Questions

How much does it cost to rent a home in Waterman, IL?
The median rent for a home in Waterman, IL is $1,625 per month, though prices vary by neighborhood, size, and property type. As of August 2026, townhouses tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Waterman, IL?
To comfortably afford the median rent in Waterman, IL, a household needs to earn roughly $65,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,625 per month in Waterman, IL, renters typically need to show $4,875 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Waterman, IL?
In Waterman, IL, the price-to-rent ratio is 16.7, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Waterman, IL are best for renting a home?
The best neighborhood for renting in Waterman, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Bristol-Kendall County and South Montgomery, each with its own character and price range.

Rental Trends in Waterman, IL

There are currently 1 homes available for rent in Waterman, IL. The median rent is $1,625 per month, with single-family homes renting at $1,875 and townhouses at $1,625.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,625
Median Single Family Home Rent
$1,875
Median Townhouse Rent
$1,625
How to Rent a Home

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