salaryWatertown is the 5th-largest city in South Dakota that we track, with 23,044 residents. Rent is lower than in 73% of U.S. cities. A typical house costs about 3.1 years of household income. Commutes are short, about 12.6 minutes.
How much money do I need?
To rent here comfortably, you should earn about $49,960 a year. That is $24 an hour at a full-time job.
Is rent cheaper than other South Dakota cities?
Yes. Rent here is cheaper than in most of South Dakota. It is number 9 of 19 cities from cheapest to most expensive.
How much do households earn in Watertown?
Share of households by yearly income. 17.7% of households earn $100,000 or more.
Rent by apartment size in Watertown
| Size | Watertown | U.S. average |
|---|---|---|
| Studio | $545 | $1,338 |
| 1 bedroom | $737 | $1,324 |
| 2 bedrooms | $1,090 | $1,509 |
| 3 bedrooms | $1,198 | $1,698 |
| 4 bedrooms | $1,426 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Watertown overall?
Everyday prices in South Dakota overall are 11% below the U.S. average (index 88.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Watertown, so the South Dakota figure is shown.
Taxes and bills in Watertown
Life in Watertown
Is it cheaper to rent or buy in Watertown?
Renting is cheaper right now: about $343 a month less.
Owning assumes a typical $229,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $22,940 for the down payment.
Frequently asked questions
What is the average rent in Watertown, SD?
Renting in Watertown costs a median of about $1,249 a month in 2026, including utilities. The South Dakota median is $1,271.
How much do I need to make to live in Watertown?
To keep rent under 30% of income, you need about $49,960 a year, or $24 an hour at a full-time job.
Is Watertown cheap or expensive?
Watertown is rated Cheap: rent takes 20.0% of the typical household income of $75,064. It ranks 9th cheapest of 19 South Dakota cities we track.
How much are property taxes in Watertown?
The median homeowner in Watertown pays $2,285 a year in property taxes, about 1.00% of the median home value.
Is Watertown more expensive than the national average?
Overall prices in South Dakota are 11% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Watertown?
The median home value in Watertown is $229,400, about 3.1 times the typical yearly household income.
23,044 people live in Watertown. Numbers are typical (middle) values.