Cheap Homes for Rent in Waterman, IL from $600 (8 Rentals)

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Search the lowest-cost Homes available for rent right now in Waterman.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Waterman, IL Local Guide

Cheapest Available Waterman Apartments for Rent and Nearby

 

The cheapest available apartment rental in Waterman, IL is a Studio unit found at The Terraces at Dekalb in the Devonaire Farms neighborhood priced from $725. Willis Senior Lofts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $800. Here is today’s list of the most affordable Waterman apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Terraces at DekalbRussell Road StudioStudio,1BA$725
Willis Senior Lofts1 Bedroom1BR,1BA$800
103 W Railroad St1 bedroom apt1BR,1BA$800

Best Value Apartments for Rent in Waterman, IL and Nearby

As of June 06, 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 Campania End Model at Bristol Bay of Yorkville starting at $2,985 with a $1.73 price per square foot in the Blackberry Crossing West neighborhood. Here is today’s list of the best values for Waterman apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Mason Townhouse Suites4 TH4BR,3BA$0.92
Bristol Bay of YorkvilleCampania End3BR,2.5BA$1.73
Barrington Plaza RealtyBarrington Plaza Realty..5BR,2BA$0.98
Eco Park33BR,2BA$1.28
Cornerstone Dekalb Apartments1 BD | 1 BA1BR,1BA$1.61
Ashbury Court1 B1BR,1BA$1.34
Willis Senior Lofts1 Bedroom1BR,1BA$1.26
Varsity Square Apartments1 Bedroom without dining room1BR,1BA$1.69
103 W Railroad St1 bedroom apt1BR,1BA$1.78
University Plaza ApartmentsA1 Floor Plan - Sold Out!1BR,1BA$3.08

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Frequently Asked Questions about Waterman

What type of rentals are currently available in Waterman?

There are currently 41 Apartments for Rent in Waterman, IL with pricing that ranges from $569 to $2,985. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterman ranging from $650 to $4,070.

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 $4,070 with an average monthly rent of $2,037.

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 $930 to $2,985, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,795 to $3,799. Four Bedroom Single-Family rentals are also available starting from $1,900 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.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.