Watertown, SD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Watertown, SD Real Estate Data


Watertown Housing Market Information

With a population of 22,073, 9,612 total housing units (homes and apartments), and a median house value of $159,761, Watertown real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Watertown, accounting for 61.89% of the city's housing units. Other types of housing that are prevalent in Watertown include large apartment complexes or high rise apartments ( 16.05%), mobile homes or trailers ( 8.63%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.39%).

The most prevalent building size and type in Watertown are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.85% owning and 38.15% renting.

There is a lot of housing in Watertown built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Watertown built between 1940-1969 ( 22.63%). A lesser amount of the housing stock also hails from before 1939 ( 19.92%). There's also some housing in Watertown built between 2000 and later ( 13.38%).

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 25.23% over the last ten years, which is an average annual home appreciation rate of 2.27%, putting Watertown in the top 20% 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.

NeighborhoodScout's data show that during the latest twelve months, Watertown's appreciation rate, at 4.15%, has been at or slightly above the national average. In the latest quarter, Watertown's appreciation rate has been 1.01%, which annualizes to a rate of 4.09%.

Relative to South Dakota, our data show that Watertown's latest annual appreciation rate is higher than 50% of the other cities and towns in South Dakota.

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:
$159,761

Watertown, SD HOME PRICES

Value Range
> $1,116,000 0.2
$837,001 - $1,116,000 0.3
$558,001 - $837,000 1.7
$446,001 - $558,000 1.6
$335,001 - $446,000 7.2
$223,001 - $335,000 14.8
$112,001 - $223,000 49.4
$56,001 - $112,000 16.2
$0 - $56,000 8.6

High for SD
Average for Nation

Value Relative to Nation Value Relative to State
45.5174030235556 22.5

Number Of Homes And Apartments:
9,612

Rent & Ownership

 

Average Market Rent:
$811 / per month

Homeownership Rate

Homeownership
Owners 61.85
Renters 38.15
Vacant 4.61

Housing Market Details

 

Age of Homes

AGE OF Watertown HOMES
2000 or Newer 13.4
1970 - 1999 44.1
1940 - 1969 22.6
1939 or Older 19.9

Types of Homes

TYPE OF Watertown HOMES
Single-Family 61.9
Townhomes 5.0
Small Apt. Buildings 8.4
Apt. Complexes 16.0
Mobile Homes 8.6
Other 0.0

Home Size

SIZE OF Watertown HOMES
No Bedroom 2.89
1 Bedroom 9.64
2 Bedrooms 29.77
3 Bedrooms 31.26
4 Bedrooms 19.66
5 or more bedrooms 6.78

Watertown Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SD*
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
68.01% 3.05% 4 8
* 10 is highest

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Zip Codes in Watertown, SD