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Waterman, IL Home for Rent

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  • 8789 Lee Rd, Waterman, IL 60556
    8789 Lee Rd, Waterman, IL 60556
    /2

    $1,950 Per Month

    • 3 Beds
    • 1.5 Baths
    • House for Rent

    8789 Lee Rd, Waterman, IL 60556

    Fantastic 3 bedroom 1.1 bath ranch with tons of privacy set on almost 3.5 acres (part of acreage is field) Gorgeous hardwood floors throughout! This home has been lovingly maintained in its original character! Oversized living room opens to kitchen offering tons of cabinetry and eat in area table space! First floor laundry with built-in ironing board has a closet for more storage. 3 nice sized

    Tracy Behrens Legacy Properties

    8789 Lee Rd, Waterman, IL 60556
Illinois DeKalb County Waterman

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 $1,950 per month, though prices vary by neighborhood, size, and property type. As of June 2026, single-family homes tend to be the most affordable option.
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 $78,000 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 $1,950 per month in Waterman, IL, renters typically need to show $5,850 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 13.7, 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.

Rental Trends in Waterman, IL

There are currently 1 homes available for rent in Waterman, IL. The median rent is $1,950 per month, with single-family homes renting at $1,875.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$1,950
Median Single Family Home Rent
$1,875
How to Rent a Home

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