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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Watertown, NY Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Watertown, NY Housing Market Trends

With 24,451 people, 11,455 houses or apartments, and a median cost of homes of $172,660, 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 43.62% 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 ( 28.32%), large apartment complexes or high rise apartments ( 22.91%), and a few row houses and other attached homes ( 4.42%).

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 ( 51.04%), 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 ( 23.21%), followed by between 1970-1999 ( 20.59%). There's also some housing in Watertown built between 2000 and later ( 5.16%).

Vacant housing appears to be an issue in Watertown. Fully 12.78% 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

Some of the lowest real estate appreciation rates in America over the last ten years have been in Watertown, where house values have increased just 41.34%, which is annualized rate of 3.52%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Watertown that despite a nationwide downturn in the housing market, Watertown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Watertown appreciation rates continue to be some of the highest in America, at 10.96%, which is higher than appreciation rates in 97.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Watertown. Watertown appreciation rates in the latest quarter were at 8.30%, which equates to an annual appreciation rate of 37.55%.

Importantly, this makes Watertown one of the highest appreciating communities in the nation for the latest quarter, and 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 70% 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

$172,660

Watertown, NY Home Prices
> $1,248,000
$936,001 - $1,248,000
$624,001 - $936,000
$499,001 - $624,000
$374,001 - $499,000
$250,001 - $374,000
$125,001 - $250,000
$62,001 - $125,000
$0 - $62,000
1.0%
1.0%
0.1%
0.1%
0.4%
0.4%
0.1%
0.1%
3.6%
3.6%
16.0%
16.0%
54.7%
54.7%
20.8%
20.8%
3.2%
3.2%
0% 100.0%
% of Homes
Very Low

for New york

Low

for nation

Number of Homes And Apartments:

11,455

Watertown Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,625 / per month

Homeownership Rate

Owners
Renters
41.0%
41.0%
59.0%
59.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.8%
12.8%
87.2%
87.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.2%
5.2%
20.6%
20.6%
23.2%
23.2%
51.0%
51.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
43.6%
43.6%
4.4%
4.4%
28.3%
28.3%
22.9%
22.9%
0.7%
0.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.0%
3.0%
18.5%
18.5%
29.7%
29.7%
33.9%
33.9%
12.0%
12.0%
2.8%
2.8%
0% 100.0%
% of Homes