This number was 11.1 percent lower than the state average of 42 percent. In 2018 the total municipality population reached 1,567.
95.6 percent of the population had at least a high school diploma or the equivalent. The table below shows how many Waterman residents who were at least 25 years old in 2018 held each of the listed degrees.
Degree distribution in Waterman for 2018*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 45 | 4.4 |
| Regular high school diploma | 335 | 32.5 |
| GED or alternative credential | 27 | 2.6 |
| Some college, less than 1 year | 150 | 14.5 |
| Some college, 1 or more years, no degree | 156 | 15.1 |
| Associate's degree | 113 | 10.9 |
| Bachelor's degree | 132 | 12.8 |
| Master's degree | 63 | 6.1 |
| Professional school degree | 7 | 0.7 |
| Doctorate degree | 4 | 0.4 |
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