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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 24,838 people, 10,867 houses or apartments, and a median cost of homes of $150,812, 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 42.95% 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 ( 26.97%), large apartment complexes or high rise apartments ( 22.08%), and a few row houses and other attached homes ( 6.95%).

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 ( 53.00%), 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 ( 21.88%), followed by between 1970-1999 ( 21.42%). There's also some housing in Watertown built between 2000 and later ( 3.69%).

Vacant housing appears to be an issue in Watertown. Fully 17.59% 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

Watertown's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Watertown during the period has been just 2.01%, which is lower than 80% of US communities.

Over the last year, Watertown appreciation rates have trailed the rest of the nation. In the last twelve months, Watertown's appreciation rate has been 7.73%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Watertown were at 1.55%, which equates to an annual appreciation rate of 6.33%.

Notably, Watertown's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New York, our data show that Watertown's latest annual appreciation rate is lower than 80% 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:
$150,812

Watertown, NY HOME PRICES

> $1,222,000
0.6%
0.6%
$916,001 - $1,222,000
0.2%
0.2%
$611,001 - $916,000
0.3%
0.3%
$488,001 - $611,000
0.4%
0.4%
$366,001 - $488,000
2.0%
2.0%
$244,001 - $366,000
10.9%
10.9%
$122,001 - $244,000
54.4%
54.4%
$61,001 - $122,000
25.7%
25.7%
$0 - $61,000
5.5%
5.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for NY

Value Relative To Nation

Number Of Homes And Apartments:
10,867

Watertown Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
127.12% 3.89%
9
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,201 / per month

Homeownership Rate

Owners
42.1%
42.1%
Renters
57.9%
57.9%
Vacant
17.6%
17.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.7%
3.7%
1970 - 1999
21.4%
21.4%
1940 - 1969
21.9%
21.9%
1939 or Older
53.0%
53.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
43.0%
43.0%
Townhomes
6.9%
6.9%
Small Apt. Buildings
27.0%
27.0%
Apt. Complexes
22.1%
22.1%
Mobile Homes
1.0%
1.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.2%
4.2%
1 Bedroom
15.8%
15.8%
2 Bedrooms
29.3%
29.3%
3 Bedrooms
33.6%
33.6%
4 Bedrooms
13.6%
13.6%
5 or more bedrooms
3.6%
3.6%
0.0% 100.0%
% OF HOMES