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 Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Watertown Housing Market Information

With 25,687 people, 11,123 houses or apartments, and a median cost of homes of $124,781, 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 42.06% 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 ( 25.09%), large apartment complexes or high rise apartments ( 24.91%), and a few row houses and other attached homes ( 6.82%).

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 ( 52.82%), 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 ( 22.74%), followed by between 1970-1999 ( 21.50%). There's also some housing in Watertown built between 2000 and later ( 2.94%).

Vacant housing appears to be an issue in Watertown. Fully 15.49% 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 0.79% during the period.

NeighborhoodScout's data show that during the latest twelve months, Watertown's appreciation rate, at 5.36%, has been at or slightly above the national average. In the latest quarter, Watertown's appreciation rate has been 4.52%, which annualizes to a rate of 19.34%.

Importantly, NeighborhoodScout’s exclusive research found that Watertown's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to New York, our data show that Watertown's latest annual appreciation rate is higher than 60% 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:
$124,781

Watertown, NY HOME PRICES

Value Range
> $1,108,000 1.1
$831,001 - $1,108,000 0.2
$554,001 - $831,000 1.1
$443,001 - $554,000 0.7
$333,001 - $443,000 3.1
$221,001 - $333,000 10.3
$111,001 - $221,000 54.5
$55,001 - $111,000 20.9
$0 - $55,000 8.1

Low for NY
Low for Nation

Value Relative to Nation Value Relative to State
69.1970802919708 74.8888888888889

Number Of Homes And Apartments:
11,123

Watertown Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
98.61% 3.63%
9
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,250 / per month

Homeownership Rate

Homeownership
Owners 39.15
Renters 60.85
Vacant 15.49

Housing Market Details

 

Age of Homes

AGE OF Watertown HOMES
2000 or Newer 2.9
1970 - 1999 21.5
1940 - 1969 22.7
1939 or Older 52.8

Types of Homes

TYPE OF Watertown HOMES
Single-Family 42.1
Townhomes 6.8
Small Apt. Buildings 25.1
Apt. Complexes 24.9
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Watertown HOMES
No Bedroom 2.97
1 Bedroom 17.62
2 Bedrooms 31.39
3 Bedrooms 31.63
4 Bedrooms 12.42
5 or more bedrooms 3.97