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City Report · NY

Watertown

Pop. 24,375·97th most expensive in New York·Watertown rents are up 25.9% over the past year
Median rent (all units)
$1,517/mo
Year-over-Year
+25.9%
Month-over-Month
+2.0%
vs US Median
-$448
Rising (Monthly)
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Most AffordableMost Expensive
Watertown · $1,517
More affordable than 74% of US cities · National median $1,965/mo
Affordability
35% of income
MODERATE
0%30% benchmark60%+

At $1,517/mo, rent takes about 35% of the local median household income, slightly above the 30% benchmark.

Income to afford
$61,000/yr
Local median income
$51,753/yr
Based on the 30%-of-income rule using Watertown's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$830
1 BR
$940
2 BR
$1,230
3 BR
$1,660
4 BR+
$2,010
Research median
$1,230/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$18,204/yr
At $1,517/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 25.9% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+25.9% YoY, +2.0% MoM), not inventory.
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Demographics

Who lives here

Watertown, NY is majority renter-occupied, has a median income below the national average, 26.6% of residents hold a bachelor's degree or higher.

Population
24,375
Median income
$51,753
Median age
35.7
Renters
59.1%
Age distribution
21.5%
27.4%
23.5%
16%
Under 1821.5%
18–3427.4%
35–5423.5%
55–6411.6%
65+16%
Gender
49.3%
50.7%
Male49.3%
Female50.7%
Race & ethnicity
79.3%
White79.3%
Black5.6%
Hispanic7.1%
Asian2.1%
Other6%
Education (25+)
34.4%
30.3%
26.6%
No HS diploma8.7%
HS diploma34.4%
Some college30.3%
Bachelor's+26.6%
Housing tenure
40.9%
59.1%
Owner40.9%
Renter59.1%

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

2022 vs 2026

How Watertown, NY has changed in 5 years

Rent
$1,199 → $1,517
up 26.5%
Income
$46,051 → $51,753
up 12.4%
Population
25,172 → 24,375
down 3.2%
Renter share
58.7% → 59.1%
+0.4 pts
Bachelor's+
24.4% → 26.6%
+2.2 pts
Median age
34.4 → 35.7
+1.3 yrs

Since 2022, the typical rent in Watertown, NY has climbed from $1,199 to $1,517, a 26.5% change over five years. Median household income rose from $46,051 to $51,753 between 2021 and 2024, a 12.4% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 3.2% since 2021, moving from about 25,172 residents to roughly 24,375. College-educated residents now make up 26.6% of adults here, versus 24.4% in 2021. Taken together, the five-year picture in Watertown, NY 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 $1,517/mo, how Watertown rent compares to typical pay (30% rule).

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, NY

Last updated: July 20, 2026

The median rent in Watertown is $1,517/mo as of July 2026. A studio apartment averages $830/mo while a 2-bedroom runs $1,230/mo. One-bedroom apartments average $940/mo and 3-bedroom units go for $1,660/mo.

At 35% of local median household income ($51,753/yr), Watertown ranks as moderate compared to the national benchmark of 30%. Rents have increased 25.9% over the past year.

FAQ

Frequently asked questions

Is Watertown an affordable city for renters?

Watertown is considered moderate for renters. At $1,517/mo, rent takes approximately 35% of the local median household income ($51,753/yr). The standard benchmark is 30%. Watertown slightly exceeds that threshold, so budgeting carefully matters here.

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 $61,000/year (~$29/hour full-time) to afford the median rent of $1,517/mo in Watertown. The local median household income is $51,753/yr, meaning the typical Watertown household falls short of that threshold.

Is rent going up or down in Watertown?

Rent in Watertown has increased 25.9% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Watertown rent compare to other cities in New York?

Watertown is one of the more affordable cities in New York for rent, ranking #97 out of 126 tracked cities at $1,517/mo.

Which nearby cities are cheaper to rent in than Watertown?

Several nearby cities have lower median rents than Watertown ($1,517/mo): Oswego ($1,415/mo), Rome ($1,500/mo).

What percentage of Watertown residents rent vs. own?

According to Census data, approximately 59.1% of Watertown households are renters, while 40.9% are owner-occupied. With a majority renter population, Watertown has a strong rental market.

How does Watertown rent compare to the national average?

Watertown's median rent of $1,517/mo is $448 (23%) below the US national median of $1,965/mo. Within New York, it ranks #97 out of 126 tracked cities.
Income Affordability
35%
MODERATE

At $1,517/mo, rent takes ~35% of Watertown's median household income ($51,753/yr). The standard benchmark is 30%.

Watertown 35%Benchmark 30%
State income tax4–10.9%
Run the Watertown affordability calculator →
Lowest-rent ZIP codes in Watertown
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Watertown, NY

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