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Defense
Defensively, the Water type is very strong when combined with high defensive stats. As every Water type, with the exception of Magikarp and the Seismitoad evolution line, can use Ice-type moves to counter Grass types (although Magikarp can learn one Flying-type move, Bounce, and Seismitoad can learn Poison moves, which can also counter Grass types), and a small number of Water types such as Gyarados, Octillery and the Slowking evolutionary line are capable of learning the Fire-type moves Flamethrower and Fire Blast which are also capable of countering Grass types, Electric types are the only true threat to Water types. That is not the case if the Pokémon in question have Abilities or subtypes that neutralize or nullifies this weakness. Quagsire, Swampert, Whiscash, Gastrodon, and Seismitoad are all immune, via their secondary type, Ground. Others, such as the Lanturn evolutionary line, the Ludicolo evolutionary line, and Palkia have subtypes that are resistant to Electric.
Water types often have the most balanced attributes, usually coming with decent Attack, Special Attack, and Defense stats, but below average Speed.
Offense
The Water type is also useful offensively. Water-type Pokémon can learn Ice Beam or Ice Punch to deal with Dragon and Grass types, which would make their resistance to Water-type attacks irrelevant. It can be extremely useful to be super-effective against Ground and Rock types when traveling through caves, etc. As a result of these advantages, as well as having to get through water routes using Surf, Waterfall, and even Whirlpool or Dive, most Trainers usually have at least one Water type in their party. Also, double weaknesses to Water are fairly common (largely due to the common Rock/Ground typing) while there are only five Pokémon that have a double resistance to Water (all of which are Water types themselves).