Home Insurance in Waterman, Illinois
The median home value in Waterman is $217,300, 11% lower than the DeKalb County median.
The typical home in Waterman was built around 1970. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 40% of homes were built before 1960, about 15 points above DeKalb County's 25%.
In Waterman, the housing stock is 89% single-family homes, 3% apartments in buildings with 5+ units and 3% mobile or manufactured homes.
About 76% of owner-occupied homes in Waterman have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 88% of occupied homes in Waterman are owner-occupied.
Most homes in Waterman - 91% - are primarily heated with natural gas.
DeKalb County's top FEMA-rated hazard is tornado (Relatively Moderate), per FEMA's National Risk Index. DeKalb County had 166 active NFIP flood policies as of September 2026. See the full DeKalb County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Illinois is $1,480 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $217,300 |
|---|---|
| Median year built | 1970 |
| Owner-occupied share | 88% |
| Share of owner-occupied homes with a mortgage | 76% |
| Top county hazard | Tornado (Relatively Moderate) |
| Active NFIP policies in DeKalb County | 166 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)