
Cheap Homes for Rent in Waterman, IL from $600 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Waterman.


175 Liberty Ln

39 E Church St

120 N State St
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

435 E Ann St

911 N 9th St

118 Colonial Pkwy

663 Spruce St
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
Waterman, IL Local Guide

How much does it cost to rent a home in Waterman?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Waterman 2 Bedroom Homes for Rent | $2,016 | $1,250 | $3,045 |
Waterman 3 Bedroom Homes for Rent | $2,549 | $1,800 | $3,300 |
Waterman 4 Bedroom Homes for Rent | $3,222 | $2,600 | $3,775 |
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Waterman, IL Local Guide
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Cheapest Available Waterman Apartments for Rent and Nearby
 The cheapest available apartment rental in Waterman, IL is a 1 Bed unit found at Fox Hill Senior Living in the Raintree Village Duplexes neighborhood priced from $656. The Terraces at Dekalb in the Devonaire Farms neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here is today’s list of the most affordable Waterman apartments for rent:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Fox Hill Senior Living | 1x1-H-SS | 1BR,1BA | $656 |
The Terraces at Dekalb | Russell Road Studio | Studio,1BA | $725 |
The Terraces at Dekalb on Ridge Drive | Ridge Drive 1 Bed | 1BR,1BA | $825 |
Best Value Apartments for Rent in Waterman, IL and Nearby
As of September 15, 2025 the best value apartment in the Waterman area is the $0.92 price per square foot 4 TH Model at Mason Townhouse Suites in the in the Devonaire Farms neighborhood starting from $2,030. The second greatest value Waterman apartment is the 2BA Model at York Meadow starting at $2,200 with a $1.17 price per square foot in the Whispering Meadows neighborhood. Here is today’s list of the best values for Waterman apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
Mason Townhouse Suites | 4 TH | 4BR,3BA | $0.92 |
York Meadow | 2BA | 3BR,2BA | $1.17 |
Old Orchard Apartments | 5 TH | 5BR,2.5BA | $0.81 |
Bristol Bay of Yorkville | Campania End | 3BR,2.5BA | $1.65 |
Barrington Plaza Realty | Barrington Plaza Realty.. | 5BR,2BA | $0.98 |
Amber Manor | 3 Bedroom Two Bathroom | 3BR,2BA | $1.10 |
Colonial Apartments | 3 TH | 3BR,1.5BA | $1.14 |
Cornerstone Dekalb Apartments | 1 BD | 1 BA | 1BR,1BA | $1.61 |
Fox Hill Senior Living | 1x1 | 1BR,1BA | $1.59 |
Willis Senior Lofts | 1 Bedroom - Subsidized | 1BR,1BA | $1.24 |
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Frequently Asked Questions about Waterman
What type of rentals are currently available in Waterman?
There are currently 42 Apartments for Rent in Waterman, IL with pricing that ranges from $450 to $2,400. There are also 49 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterman ranging from $650 to $3,775.
What is the current price range for Rental Homes in Waterman?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Waterman ranges from $650 to $3,775 with an average monthly rent of $1,908.
How much are larger Three and Four Bedroom Rentals in Waterman?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Waterman range from $789 to $2,400, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,800 to $3,300. Four Bedroom Single-Family rentals are also available starting from $2,600 and Four Bedroom Apartments start at $1,040.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Written by: Christine Leonard, Esq.
Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.