The typical owner-occupied home in Watson is worth about $68,400, 79% below the Minnesota median of $329,300 and 79% below the national median of $332,700. Owners pay a median $1,212 a year in property taxes, about 1.77% of their home's value, higher than the Minnesota rate of 1.02%. The median household earns $34,722 a year, so the median home costs 2.0 times the median income (3.7 times for Minnesota). 70% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Watson at a glance
| Watson | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $68,400 | $329,300 | $332,700 |
| Median property tax paid per year | $1,212 | $3,357 | $3,119 |
| Property tax as a share of value | 1.77% | 1.02% | 0.94% |
| Median household income | $34,722 | $89,062 | $80,734 |
| Homes lived in by their owners | 70% | 72% | 65% |
| Owner homes with a mortgage | 53% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,013 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 17.5% | 19.7% | 21.0% |
| Median rent | $741 | $1,280 | $1,413 |
| Rent as a share of renters' income | 28.3% | 29.2% | 30.6% |
| Median year homes were built | 1945 | 1979 | 1980 |
| Vacant homes | 0.0% | 9.3% | 10.1% |
| Population | 200 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Watson
At this week's average 30-year rate of 7.11%, buying the median Watson home of $68,400 with 20% down costs about $497 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $611, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $21,321 for the 20%-down payment. That payment is 17% of the median Watson household income of $34,722; at that income and 20% down, the 28% guideline points to a home of about $111,000.
The median rent here is $741 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $13,680 |
|---|---|
| Loan amount | $54,720 |
| Principal and interest | $368 |
| Property taxes (1.77% a year) | $101 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| PMI | $0 |
| Total per month | $497 |
Change the numbers in the calculator
| Down payment | $2,394 |
|---|---|
| Loan amount | $67,161 |
| Principal and interest | $452 |
| Property taxes (1.77% a year) | $101 |
| Homeowners insurance (our estimate, 0.5% a year) | $28 |
| FHA mortgage insurance | $30 |
| Total per month | $611 |
Change the numbers in the calculator
Questions about home buying in Watson
What is the median home value in Watson?
About $68,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Watson?
Homeowners pay a median $1,212 a year, which is about 1.77% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Watson?
For the median home with 20% down at 7.11%, the payment is about $497 a month. Keeping that under 28% of gross income takes about $21,321 a year.
More about Watson
- Mortgage Refinance in Watson
- Debt Relief in Watson
- Home Equity Loans in Watson
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data