Watertown, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Watertown, NY Real Estate Data


Watertown Housing Market Information

With a population of 26,780, 11,486 total housing units (homes and apartments), and a median house value of $108,938, 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 42.02% 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 ( 27.19%), large apartment complexes or high rise apartments ( 24.11%), and a few row houses and other attached homes ( 5.67%).

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 ( 56.53%), 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 ( 22.46%), followed by between 1970-1999 ( 18.40%). There's also some housing in Watertown built between 2000 and later ( 2.61%).

Vacant housing appears to be an issue in Watertown. Fully 11.56% 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

Appreciation rates for homes in Watertown have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.76%, which ranks in the top 50% nationwide. This equates to an annual average Watertown house appreciation rate of 0.27%.

Over the last year, Watertown appreciation rates have trailed the rest of the nation. In the last twelve months, Watertown's appreciation rate has been -8.27%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Watertown were at 0.77%, which equates to an annual appreciation rate of 3.12%.

Relative to New York, our data show that Watertown's latest annual appreciation rate is lower 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:
$108,938

Watertown, NY HOME PRICES

Value Range
> $979,000 0.9
$734,001 - $979,000 0.2
$490,001 - $734,000 0.5
$391,001 - $490,000 0.8
$294,001 - $391,000 2.1
$196,001 - $294,000 9.0
$98,001 - $196,000 53.8
$49,001 - $98,000 25.8
$0 - $49,000 6.9

Low for NY
Low for Nation

Value Relative to Nation Value Relative to State
71.9090589476152 78.9001122334456

Number Of Homes And Apartments:
11,486

Rent & Ownership

 

Average Market Rent:
$1,169 / per month

Homeownership Rate

Homeownership
Owners 38.62
Renters 61.38
Vacant 11.56

Housing Market Details

 

Age of Homes

AGE OF Watertown HOMES
2000 or Newer 2.6
1970 - 1999 18.4
1940 - 1969 22.5
1939 or Older 56.5

Types of Homes

TYPE OF Watertown HOMES
Single-Family 42.0
Townhomes 5.7
Small Apt. Buildings 27.2
Apt. Complexes 24.1
Mobile Homes 1.0
Other 0.0

Home Size

SIZE OF Watertown HOMES
No Bedroom 1.39
1 Bedroom 19.97
2 Bedrooms 29.76
3 Bedrooms 31.99
4 Bedrooms 13.32
5 or more bedrooms 3.56

Watertown Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
82.51% 3.55% 9 9
* 10 is highest