Watertown, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Watertown, NY 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 Q3 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (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 25,687, 11,204 total housing units (homes and apartments), and a median house value of $123,227, house prices in Watertown are solidly below the national average.

Single-family detached homes 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 duplexes, homes converted to apartments or other small apartment buildings ( 26.35%), large apartment complexes or high rise apartments ( 25.08%), and a few row houses and other attached homes ( 5.82%).

People in Watertown primarily live in small (one, two or no bedroom) single-family detached homes. Watertown has a mixture of owner-occupied and renter-occupied housing.

The housing in Watertown was primarily built before 1939 ( 55.63%), 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 ( 22.61%), followed by between 1970-1999 ( 18.58%). There's also some housing in Watertown built between 2000 and later ( 3.17%).

Vacant housing appears to be an issue in Watertown. Fully 14.11% of the housing stock is classified as vacant. Left unchecked, vacant Watertown homes and apartments can be a drag on the real estate market, holding Watertown real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Watertown Home Appreciation Rates

Real estate appreciation rates in Watertown's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.01% during the period.

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 24.20%, which is higher than appreciation rates in 99.98% 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 -4.61%, which equates to an annual appreciation rate of -17.20%.

Notably, Watertown's appreciation rate in the latest quarter is one of the lowest in America.

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

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:
$123,227

Watertown, NY HOME PRICES

Value Range
> $1,054,000 0.8
$790,001 - $1,054,000 0.2
$527,001 - $790,000 0.4
$422,001 - $527,000 0.9
$316,001 - $422,000 2.8
$211,001 - $316,000 8.8
$105,001 - $211,000 54.2
$53,001 - $105,000 23.6
$0 - $53,000 8.3

Low for NY
Low for Nation

Value Relative to Nation Value Relative to State
69.2963503649635 76.5555555555556

Number Of Homes And Apartments:
11,204

Watertown Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
Since 2000:
2000 Q1 - 2018 Q3
94.81% 3.62%
9
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,077 / per month

Homeownership Rate

Homeownership
Owners 40.03
Renters 59.97
Vacant 14.11

Housing Market Details

 

Age of Homes

AGE OF Watertown HOMES
2000 or Newer 3.2
1970 - 1999 18.6
1940 - 1969 22.6
1939 or Older 55.6

Types of Homes

TYPE OF Watertown HOMES
Single-Family 41.5
Townhomes 5.8
Small Apt. Buildings 26.3
Apt. Complexes 25.1
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Watertown HOMES
No Bedroom 1.87
1 Bedroom 19.75
2 Bedrooms 30.66
3 Bedrooms 30.68
4 Bedrooms 13.78
5 or more bedrooms 3.26