City Report · MA

Watertown

Pop. 35,543·18th most expensive in Massachusetts·One of the pricier rental markets in the US

Median rent (all units)

$3,101/mo

Year-over-Year

+2.6%

Month-over-Month

+0.4%

vs US Median

+$1,169

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

Watertown · $3,101

More expensive than 92% of US cities · National median $1,932/mo

Rent Reality Score

53/100

Fairly priced

OverheatedFairGreat value

Rents are right about where Watertown's 10-year trend predicts.

Actual rent

$3,101/mo

Expected by trend

$3,152/mo

The Rent Reality Score compares today's median rent to where Watertown's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$2,400

1 BR

$2,540

2 BR

$3,010

3 BR

$3,630

4 BR+

$3,990

Fair Market Rent (HUD)

$3,010/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $3,101 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in Watertown usually run 3.2% below trend in December and 2.7% above it in July, about $183 a month apart at today's median. Based on 10 years of data.

Compared with the peak

Rent in Watertown is at its highest level since Zillow's records here began in January 2016.

Past year vs. the rest of Massachusetts

Rent in Watertown changed +2.6% over the year to September 2026. Across the 89 Massachusetts cities Zillow tracks, the typical change was +2.8%.

Rent vs. income since 2019

From 2019 to 2024, rent in Watertown rose 24.1% while median household income rose 24.9% ($101,103 to $126,265). Income kept ahead of rent.

Since before the pandemic

Rent in Watertown is 29.2% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 2 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($126,265) is $3,157 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($3,010); a 3-bedroom is $3,630.

Cheaper nearby

Chelsea, 8 miles away, rents for 15% less ($2,632/mo), about $5,600 a year in savings.

From Zillow's monthly rent index (ZORI) for Watertown. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$37,212/yr

At $3,101/mo median

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.6% YoY, +0.4% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Watertown, MA is roughly split between renters and owners, has a median income above the national average, 66.5% of residents hold a bachelor's degree or higher.

Population

35,543

Median income

$126,265

Median age

39.4

Renters

52.3%

Age distribution

14.3%

27.1%

26.9%

13.5%

18.3%

Under 1814.3%

18–3427.1%

35–5426.9%

55–6413.5%

65+18.3%

Gender

45.5%

54.5%

Male45.5%

Female54.5%

Race & ethnicity

71.3%

White71.3%

Black3.8%

Hispanic6%

Asian11.7%

Other7.2%

Education (25+)

13.7%

14.9%

66.5%

No HS diploma4.9%

HS diploma13.7%

Some college14.9%

Bachelor's+66.5%

Housing tenure

47.7%

52.3%

Owner47.7%

Renter52.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Watertown, MA has changed in 5 years

Rent

$2,321 → $3,101

up 33.6%

Income

$101,103 → $126,265

up 24.9%

Population

35,401 → 35,543

up 0.4%

Renter share

48.2% → 52.3%

+4.1 pts

Bachelor's+

65.9% → 66.5%

+0.6 pts

Median age

38.2 → 39.4

+1.2 yrs

Rent in Watertown, MA has climbed 33.6% since 2021, going from about $2,321 per month to roughly $3,101 today. Median household income grew from $101,103 to $126,265 between 2019 and 2024, a 24.9% shift. Rent outpaced income growth by roughly 8.7 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2019. About 52.3% of households rent today, against 48.2% in 2019. Taken together, the five-year picture in Watertown, MA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

Discussions about Watertown

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View Watertown rent history (2015–2026) →

Salary vs rent

Can you afford rent in Watertown on your salary?

At $3,101/mo, how Watertown rent compares to typical pay (30% rule).

Registered Nurse

Avg $109,597/yr · Rent = 34% income

stretched

Elementary School Teacher

Avg $77,813/yr · Rent = 47.8% income

rent-burdened

Police Officer

Avg $89,633/yr · Rent = 41.5% income

rent-burdened

Software Developer

Avg $160,208/yr · Rent = 23.2% income

affordable

Lawyer

Avg $204,705/yr · Rent = 18.2% income

very comfortable

Firefighter

Avg $72,860/yr · Rent = 51.1% income

severely rent-burdened

Truck Driver

Avg $65,784/yr · Rent = 56.6% income

severely rent-burdened

Electrician

Avg $81,084/yr · Rent = 45.9% income

rent-burdened

By apartment size

Watertown rent by bedroom count

Median rent for each apartment size in Watertown. Click any size for full breakdown.

Local insights

Tips for renters in Watertown

About renting in Watertown, MA

Last updated: October 17, 2026

The median rent in Watertown is $3,101/mo as of October 2026. A studio apartment averages $2,400/mo while a 2-bedroom runs $3,010/mo. One-bedroom apartments average $2,540/mo and 3-bedroom units go for $3,630/mo.

At 29% of local median household income ($126,265/yr), Watertown ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in Watertown?

To keep rent at or below 30% of gross income, you would need to earn at least $124,000/year (about $60/hour full-time) to afford the median rent of $3,101/mo in Watertown. The local median household income is $126,265/yr, so the typical household meets that bar.

Is rent going up or down in Watertown?

Rent in Watertown has risen 2.6% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2016.

When is the cheapest time to rent in Watertown?

Asking rents in Watertown are usually lowest in December, about 3.2% below their yearly trend, and highest in July, about 2.7% above it. At today's median that is a gap of roughly $183 a month. This pattern comes from 10 years of Zillow rent data.

Has rent outpaced income in Watertown?

No. From 2019 to 2024, rent in Watertown rose 24.1% while median household income rose 24.9%, from $101,103 to $126,265. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does Watertown rent compare to other cities in Massachusetts?

Watertown is one of the pricier among Massachusetts cities for rent, ranking #18 of 107 tracked cities at $3,101/mo. Over the year to September 2026, rent in Watertown changed +2.6%, against a typical +2.8% across the 89 Massachusetts cities Zillow tracks.