Landlord Resources
How to Get a Loan for a Rental Property
Rental property loans differ from traditional mortgages, needing larger down payments, higher interest rates, and reserves, often disregarding projected rental income.
•11 min read
What to Know About
Life in Waverly & Beyond
Waverly shares many of the great qualities that make Illinois a desirable place to live.
Illinois is known for its rich cultural heritage, lively urban centers, and beautiful countryside landscapes. Explore the state's cultural heritage by visiting renowned museums such as the Lincoln Presidential Library and Museum, the Field Museum of Natural History, the Museum of Science and Industry, and the Art Institute of Chicago. The state also has a thriving theater and art scene, including the renowned Steppenwolf Theatre Company in Chicago. Illinois is also home to respected universities like the University of Illinois at Urbana-Champaign and Northwestern University.
Outdoor enthusiasts will love the scenic beauty of the Shawnee National Forest and the adventure-filled trails of the Starved Rock State Park. Sports fans will be in their element in Illinois, cheering on the Chicago Bears (NFL), Chicago Blackhawks (NHL), Chicago Cubs (MLB), Chicago White Sox (MLB), and Chicago Bulls (NBA). Experience famous attractions like the Willis Tower, Navy Pier, and the Lincoln Park Zoo. Also, enjoy the musicals and plays at Broadway-in-Chicago, festivals throughout the summer months, and culinary tours of the local restaurants.
With its vibrant cultural scene, exciting entertainment options, and top-notch educational opportunities, Illinois offers a high quality of life, making it a great place to live.
Rental Market Trends
Waverly, IL
As of June 2026, Waverly's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Waverly's average rent is 51.7% ($876) lower than the Illinois average of $1,694 and 54.5% ($979) lower than the U.S. average of $1,797.
Average Rent
$818
Monthly ChangeMonth Over Month Change
4.6% ($36)
Yearly ChangeYear Over Year Change
10.2% ($93)
Avg. Days on MarketAverage Days on Market
32
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $692 | 11.3% ($88) | 7.2% ($54) |
| 2 Beds | $836 | 13% ($125) | 12% ($114) |
| 3 Beds | $996 | 11.5% ($130) | 10% ($111) |
| Nearby Cities | Average Rent | Avg. Rent vs. WaverlyAverage Rent vs. Waverly | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Loami | $950 | 16.1% ($132) | 25 days |
| Auburn | $1,145 | 40% ($327) | 28 days |
| Chatham | $1,413 | 72.7% ($595) | 26 days |
| Divernon | $743 | 9.2% ($75) | 26 days |
| Springfield | $925 | 13.1% ($107) | 25 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Waverly Rental Market FAQs
Explore rental prices, market trends, and availability in Waverly, IL.
The average rent in Waverly, IL is $818 per month.
Homes in Waverly typically rent for between $600 and $1,295 per month, with an average of $818 per month.
In Waverly, the average rent for a 1-bedroom home is $692 per month, for a 2-bedroom home, $836 per month, and a 3-bedroom home is $996 per month.
The average rent in Waverly is 54.5% ($979) lower than the national average of $1,797 per month.
The average rent in Waverly has increased by 4.6% ($36) in the last month and decreased by 10.2% ($93) over the past year.
The rental market in Waverly, IL, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Waverly, IL, the average rental stays on the market for approximately 32 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
Based on the current averages, a household would need an annual income of $33,440 to comfortably afford a 2-bedroom home in Waverly.
