Watertown, SD home prices
Typical home $336,249 · +4.2% in a year · income needed $96,400
The Watertown, SD metro area ranks 246 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +4.2% in a year and +21.1% over five years. With 20% down at 7.11%, the typical home costs about $2,250 a month including 0.97% property tax (Codington County rate).
Mortgage on the typical Watertown home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $67,250 | $268,999 | $1,810 | $0 | $440 | $2,250 | $96,400 |
| 10% down | $33,625 | $302,624 | $2,036 | $126 | $440 | $2,602 | $111,500 |
| 5% down | $16,812 | $319,436 | $2,149 | $133 | $440 | $2,722 | $116,700 |
| 3.5% down (FHA) | $11,769 | $330,158 | $2,221 | $149 | $440 | $2,810 | $120,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.97% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Watertown area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Codington County, SD | $335,543 | +3.1% | 0.97% |
| Hamlin County, SD | $340,142 | +12.2% | 1.11% |
What can you afford in South Dakota on your salary? · South Dakota home prices · Salaries in South Dakota
Frequently asked questions
How much is a house in Watertown?
The typical home in the Watertown, SD metro area is worth $336,249 (Zillow, September 2026).
What salary do you need to buy a house in Watertown?
About $96,400 a year for the typical home with 20% down at 7.11%.