Watertown, New York 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 64% below the New York median$170,209
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Median rent 40% below the New York median$966
Housing Market Overview
| Metric | Watertown | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $170,209 | $471,885 | $248,835 |
| Price Trend (Annual %) | 1.1% | 7.1% | 7.5% |
| Median Gross Rent | $966 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 2.4% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Watertown is about 64% lower than in New York. Rent is about 40% lower than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Watertown, up about 1.1% and 2.4% a year respectively. Rent is changing faster.
Median rent in Watertown rose about 18.4% between 2015 and 2024, from $815 to $966. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Watertown.
Buying the median-priced home in Watertown costs roughly 14.7 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Watertown. The price-to-rent ratio in New York is about 24.3.
| Metric | Watertown | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $170,209 | $471,885 | $248,835 |
| Median Household Income | $51,981 | $86,556 | $80,455 |
| Price-to-Income Ratio | 3.3 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Watertown rose about 12.1%, while median household income rose about 37.3% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Watertown | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 36.1% | 48.8% | 58.5% |
| Rental Rate | 52.3% | 41.1% | 31.2% |
| Vacancy Rate | 11.6% | 10.1% | 10.2% |
| Median Tenure (years) | 10.0 | 17.0 | 15.0 |
| Median Year Moved In | 2016 | 2009 | 2011 |
Watertown has a homeownership rate of 36.1%, lower than the New York average of 48.8%. Its housing vacancy rate is 11.6%, compared with 10.1% in New York.
Housing Stock
| Metric | Watertown | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.98 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1951 | 1960 | 1978 |
| Median Number of Rooms | 5.4 | 5.0 | 5.5 |
The typical housing unit in Watertown was built around 1951. On average, 2.0 people live in a home with about 5.4 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Watertown, New York.
What is the median home price in Watertown, New York?
The median home price in Watertown, New York is $170,209, lower than the New York average of $471,885.
What is the average home price in Watertown, New York?
The typical home price in Watertown, New York, reported as the median sale price, is $170,209. 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, New York?
The median gross rent in Watertown, New York is $966 per month, lower than the New York average of $1,621.
What was the median gross rent in Watertown in 2020?
In 2020, the median gross rent in Watertown, New York was $818 per month.
What is the price-to-rent ratio in Watertown, New York?
The price-to-rent ratio in Watertown, New York is about 14.7, meaning it would take roughly 14.7 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Watertown.
Are home prices or rent rising faster in Watertown, New York?
Both home prices and rent are rising in Watertown, up about 1.1% and 2.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Watertown, New York?
36.1% of households in Watertown, New York own their home, lower than the New York average of 48.8%.
What is the vacancy rate in Watertown, New York?
The housing vacancy rate in Watertown, New York is 11.6%, higher than the New York average of 10.1%.
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