Similar to its surrounding areas, it's a little less expensive compared to the rest of the country. However compared to the city of Chicago, it's substantially less expensive.
Home prices
The median home in Waterman is valued at $161,700. This is approximately $3,240 (2%) higher in comparison to other places in this area.Compared to the nation as a whole it is roughly $55,800 (25%) lower, and compared to the city of Chicago is roughly $96,300 (37%) lower.
Rents
Waterman's median monthly rent is $772. It is roughly $100 (11%) lower in comparison to the surrounding areas.It is roughly $290 (27%) lower compared to the rest of the country, and in comparison to the city of Chicago is about $340 (30%) lower.
Nearby places
Shabbona
Shabbona is about 5 miles west from Waterman. Real estate prices there are similar. The median home in Shabbona costs $154,900, which comes out to $6,800 (4%) lower than Waterman. Its rents are similar. In Shabbona the median monthly rent is $773, which is very similar to Waterman.
Hinckley
Hinckley is roughly 5 miles east of Waterman. Real estate prices there are a bit more expensive. The median home in Hinckley is valued at $208,700, which works out to $47,000 (22%) higher than Waterman. Rent there is somewhat more expensive. In Hinckley the median rent is $977 per month, which comes out to $205 (20%) higher than Waterman.
Lee
Lee is about 7 miles west from Waterman. Its housing prices are significantly less expensive. The median home in Lee costs $116,000, which is $45,700 (39%) lower than Waterman. Rents there are fairly similar. Lee's median rent is $763 per month, which is $9 (1%) lower than Waterman.
Somonauk
Somonauk is roughly 9 miles southeast from Waterman. The real estate prices there are fairly similar. The median home in Somonauk costs $168,900, which works out to $7,200 (4%) higher than Waterman. Rents there are somewhat more expensive. In Somonauk the median rent is $988 per month, which comes out to $216 (21%) higher than Waterman.
Leland
Leland is about 10 miles south of Waterman. Housing prices there are somewhat less expensive. The median home in Leland is valued at $143,800, which comes out to $17,900 (12%) lower than Waterman. Rents there are a little more expensive. In Leland the median monthly rent is $858, which is $86 (10%) higher than Waterman.
