Waterman, IL—60556
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waterman, IL
As of Oct '25, the median home price in Waterman, IL is $284,000, with a year-over-year change of 5.9%. This indicates that home prices in Waterman, IL are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $284,000 | 5.9% |
| Single Family | $284,000 | 6.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $265,000 | 5.2% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Waterman, IL
Waterman, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Waterman, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Waterman, IL is 43. This is a increase of 38.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 50.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $226,000 | -9.0% |
Listing Count | 8 | 47.0% |
| Listings as % of Homes | 0.6% | 47.0% |
Days on Market | 43 | 38.0% |
Demographics — Waterman, IL
As of the latest ACS Survey released in 2023, Waterman, IL has a population of 2,160, which has increased by 6.3% over the past 5 years. Waterman, IL is a popular place for families, as children make up 26.1% of the population. The area has a moderately educated workforce, with 27.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,160 | 6.3% |
% Under 18 | 26.1% | 5.7% |
% Seniors | 10.4% | -22.4% |
% WFH | 10.3% | 296.2% |
% w/ College Degree | 27.9% | 24.6% |
As of the latest ACS Survey released in 2023, Waterman, IL is a predominantly white area, with 83.2% of the population identifying as white. The white population has shrunk by 5.9% in the last 5 years. The second most common race or ethnicity in Waterman, IL is hispanic, making up 9.6% of the population. Foreign-born residents account for 4.6% of the population in Waterman, IL, and this percentage has decreased by 2.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 83.2% | -5.9% |
% Black | 1.6% | 60.0% |
% Hispanic | 9.6% | 26.3% |
% Asian | 0.6% | ∞% |
% Foreign Born | 4.6% | -2.1% |
Mortgage and Risk — Waterman, IL
According to HUD data as of 2023, there were 90 mortgage originations in Waterman, IL, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 51.0% above 90% LTV (very high). This implies large mortgage risk in Waterman, IL. Investor activity is low, as 0.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 90 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Waterman, IL
Waterman, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 2.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $920 |
| 2 Bedroom | N/A | N/A | $1,210 |
| 3 Bedroom | N/A | N/A | $1,690 |
| 4 Bedroom | N/A | N/A | $2,030 |
Affordability — Waterman, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $284,000 |
| Median Household Income | $94,600 |