Watertown, Massachusetts Housing Market Prices
Watertown Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 113% above the Massachusetts median$1,053,396
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Median rent 42% above the Massachusetts median$2,502
Housing Market Overview
| Metric | Watertown | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,053,396 | $494,523 | $248,835 |
| Price Trend (Annual %) | 7.8% | 6.6% | 7.5% |
| Median Gross Rent | $2,502 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Watertown is about 113% higher than in Massachusetts. Rent is about 42% higher than the Massachusetts average.
Median Home and Rent Price Trends
Median Home Prices, 2016-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Watertown, up about 7.8% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Watertown rose about 57.0% between 2015 and 2024, from $1,593 to $2,502. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 8.3 yearly household incomes in Watertown.
Buying the median-priced home in Watertown costs roughly 35.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Watertown. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Watertown | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,053,396 | $494,523 | $248,835 |
| Median Household Income | $126,987 | $104,336 | $80,455 |
| Price-to-Income Ratio | 8.3 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2016 and 2024, the median home price in Watertown rose about 68.7%, while median household income rose about 65.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Watertown | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.4% | 57.5% | 58.5% |
| Rental Rate | 49.7% | 34.4% | 31.2% |
| Vacancy Rate | 4.9% | 8.1% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Watertown has a homeownership rate of 45.4%, lower than the Massachusetts average of 57.5%. Its housing vacancy rate is 4.9%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Watertown | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.15 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1953 | 1963 | 1978 |
| Median Number of Rooms | 5.1 | 5.5 | 5.5 |
The typical housing unit in Watertown was built around 1953. On average, 2.1 people live in a home with about 5.1 rooms, staying for about 12.0 years on average.
Watertown, MA Housing Compared With Nearby Cities
Watertown, MA is the smallest of the 5 cities compared here, 35,594 residents against a local median of 76,053. There is no headline here. Every measure below sits within 15% of the median across the nearest cities, which makes Watertown, MA an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is homeownership, 12% below the local median at 47.7% against 54.2%. Watertown, MA has the 3rd highest homeownership of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Watertown, MA | 35,594 | $1,053,396 #4/5 | $2,502 #3/5 | 47.7% #3/5 |
| Newton, MA | 88,909 | $1,092,024 | $2,369 | 70.0% |
| Arlington, MA | 46,270 | $1,743,589 | $2,082 | 61.6% |
| Brookline, MA | 63,198 | $1,239,921 | $2,834 | 46.8% |
| Cambridge, MA | 117,266 | $678,104 | $2,785 | 33.5% |
Frequently Asked Questions
Common questions about the housing market in Watertown, Massachusetts.
What is the median home price in Watertown, Massachusetts?
The median home price in Watertown, Massachusetts is $1,053,396, higher than the Massachusetts average of $494,523.
What is the average home price in Watertown, Massachusetts?
The typical home price in Watertown, Massachusetts, reported as the median sale price, is $1,053,396. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Watertown, Massachusetts?
The median gross rent in Watertown, Massachusetts is $2,502 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Watertown in 2020?
In 2020, the median gross rent in Watertown, Massachusetts was $1,875 per month.
What is the price-to-rent ratio in Watertown, Massachusetts?
The price-to-rent ratio in Watertown, Massachusetts is about 35.1, meaning it would take roughly 35.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Watertown.
Are home prices or rent rising faster in Watertown, Massachusetts?
Both home prices and rent are rising in Watertown, up about 7.8% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Watertown, Massachusetts?
45.4% of households in Watertown, Massachusetts own their home, lower than the Massachusetts average of 57.5%.
What is the vacancy rate in Watertown, Massachusetts?
The housing vacancy rate in Watertown, Massachusetts is 4.9%, lower than the Massachusetts average of 8.1%.
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