Watertown, MA


Highest Appreciating Watertown Neighborhoods Since 2000

Watertown, MA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Watertown Housing Market Information

With a population of 34,319, 14,357 total housing units (homes and apartments), and a median house value of $590,673, Watertown house prices are not only among the most expensive in Massachusetts, Watertown real estate also is some of the most expensive in all of America.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Watertown, accounting for 41.51% of the city's housing units. Other types of housing that are prevalent in Watertown include large apartment complexes or high rise apartments ( 24.41%), single-family detached homes ( 23.35%), and a few row houses and other attached homes ( 10.58%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Watertown primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Watertown has a mixture of owner-occupied and renter-occupied housing.

The housing in Watertown was primarily built before 1939 ( 44.38%), making the housing stock in Watertown some of the oldest overall in America, although there is a range of ages of homes in Watertown. The next most important housing age is between 1940-1969 ( 29.28%), followed by between 1970-1999 ( 18.88%). There's also some housing in Watertown built between 2000 and later ( 7.46%).

Watertown Home Appreciation Rates

In the last 10 years, Watertown has experienced some of the highest home appreciation rates of any community in the nation. Watertown real estate appreciated 28.71% over the last ten years, which is an average annual home appreciation rate of 2.56%, putting Watertown in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Watertown definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Watertown that despite a nationwide downturn in the housing market, Watertown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Watertown appreciation rates continue to be some of the highest in America, at 7.64%, which is higher than appreciation rates in 84.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Watertown. Watertown appreciation rates in the latest quarter were at 1.07%, which equates to an annual appreciation rate of 4.36%.

Relative to Massachusetts, our data show that Watertown's latest annual appreciation rate is higher than 90% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Watertown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Watertown - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Watertown real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,260,000 0.9
$945,001 - $1,260,000 4.7
$630,001 - $945,000 30.4
$504,001 - $630,000 25.9
$378,001 - $504,000 23.2
$252,001 - $378,000 10.7
$126,001 - $252,000 1.3
$63,001 - $126,000 0.7
$0 - $63,000 2.1

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
4.08414391187156 15.3846153846154

Number Of Homes And Apartments:

Watertown Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
76.26% 3.34% 10 9
* 10 is highest

Rent & Ownership


Average Market Rent:
$2,315 / per month

Homeownership Rate

Owners 51.53
Renters 48.47
Vacant 5.73

Housing Market Details


Age of Homes

AGE OF Watertown HOMES
2000 or Newer 7.5
1970 - 1999 18.9
1940 - 1969 29.3
1939 or Older 44.4

Types of Homes

Single-Family 23.4
Townhomes 10.6
Small Apt. Buildings 41.5
Apt. Complexes 24.4
Mobile Homes 0.0
Other 0.2

Home Size

No Bedroom 1.64
1 Bedroom 14.90
2 Bedrooms 41.74
3 Bedrooms 26.96
4 Bedrooms 11.71
5 or more bedrooms 3.06