Living in Waterman, Illinois
Cost of living, income, home prices, rent and demographics of Waterman · Census data 2020–2024
Waterman has 1,448 residents with a median age of 31. The median household income is $100,139 (20% higher than the Illinois median), the median home value is $217,300, the median rent is $877/month.
Waterman is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Waterman at a glance
- Population
- 1,448
- Median age
- 31State: 39
- Median household income
- $100,139State: $83,390
- Median home value
- $217,300State: $263,300
- Median rent
- $877/moState: $1,274
- Homeowners
- 87.7%
- Bachelor's degree or higher
- 23.2%
- Average commute
- 39 min
Is Waterman a good place to live?
Pros: Median household income 20% higher than the Illinois median; home values 17% lower than the state median; unemployment of 4.1%; a poverty rate of 5%.
Cons: An average commute of 39 minutes.
The weather is best in June to September.
Cost of living in Waterman
Housing is the biggest part of the cost of living. In Waterman the median home value is $217,300, 35% lower than the U.S. median. Renters pay a median of $877 per month, which is 25.8% of household income. Homeowners with a mortgage pay $1,596 a month in housing costs.
Waterman median household income
The median household income in Waterman is $100,139 and the income per person is $41,311. 5% of residents live below the poverty line (Illinois: 11.8%).
Housing in Waterman: homes for sale and rent
- Housing units
- 509
- Owner-occupied
- 87.7%
- Renter-occupied
- 12.3%
- Vacant
- 4.5%Includes seasonal homes
- Median year built
- 1970
- Average household size
- 2.98
Waterman demographics
- Population
- 1,448
- Median age
- 31
- Under 18
- 29.4%
- 65 and older
- 8.1%
- Households
- 486
- Foreign-born
- 1.2%
- Veterans
- 5.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Waterman ›
Education in Waterman
23.2% of adults 25 and older in Waterman have a bachelor's degree or higher (Illinois: 37.8%), and 5.5% have a graduate or professional degree.
Jobs and commute in Waterman
- Unemployment rate
- 4.1%State: 5.8%
- Average commute
- 39 minState: 28 min
- Work from home
- 9.6%
- Drive alone
- 83.9%
- Public transit
- 0%
- Walk to work
- 1.6%
- Homes with broadband
- 97.9%
Waterman vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Waterman | 1,448 | $100,139 | $217,300 | $877 |
| Shabbona | 572 | $63,750 | $186,600 | $975 |
| Hinckley | 2,331 | $86,823 | $291,700 | $1,355 |
| Lee | 320 | $82,000 | $150,500 | $1,188 |
| Somonauk | 1,569 | $84,583 | $234,400 | $993 |
| Leland | 1,065 | $79,583 | $186,800 | $1,054 |
| Sandwich | 7,219 | $80,768 | $255,700 | $1,029 |
| Lake Holiday | 5,641 | $107,875 | $256,400 | $1,496 |
| DeKalb | 40,443 | $46,481 | $204,700 | $1,029 |
More for people moving to Waterman
Waterman ZIP code ›Weather and climate ›Living in Waterman: FAQ
What is the median household income in Waterman, IL?
The median household income in Waterman is $100,139, 20% higher than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Waterman?
The median home value in Waterman is $217,300, compared with $263,300 in Illinois.
How much is rent in Waterman?
The median gross rent in Waterman is $877 per month, about 25.8% of household income.
Is Waterman, IL a good place to live?
Pluses: median household income 20% higher than the Illinois median; home values 17% lower than the state median; unemployment of 4.1%; a poverty rate of 5%. Minuses: an average commute of 39 minutes.
What is the median age in Waterman?
The median age in Waterman is 31 years (Illinois: 39).
How long is the commute in Waterman?
The average commute to work in Waterman is 39 minutes; 9.6% of workers work from home.
What is the unemployment rate in Waterman?
The unemployment rate in Waterman is 4.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Waterman?
23.2% of adults in Waterman have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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