The typical owner-occupied home in Watertown is worth about $222,100, 17% below the Wisconsin median of $266,500 and 33% below the national median of $332,700. Owners pay a median $3,706 a year in property taxes, about 1.67% of their home's value, higher than the Wisconsin rate of 1.42%. The median household earns $70,107 a year, so the median home costs 3.2 times the median income (3.4 times for Wisconsin). 62% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Watertown at a glance
| Watertown | Wisconsin | U.S. | |
|---|---|---|---|
| Median home value | $222,100 | $266,500 | $332,700 |
| Median property tax paid per year | $3,706 | $3,792 | $3,119 |
| Property tax as a share of value | 1.67% | 1.42% | 0.94% |
| Median household income | $70,107 | $77,485 | $80,734 |
| Homes lived in by their owners | 62% | 68% | 65% |
| Owner homes with a mortgage | 64% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,511 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 21.4% | 19.5% | 21.0% |
| Median rent | $1,052 | $1,087 | $1,413 |
| Rent as a share of renters' income | 25.6% | 27.2% | 30.6% |
| Median year homes were built | 1969 | 1975 | 1980 |
| Vacant homes | 3.1% | 10.8% | 10.1% |
| Population | 22,774 | 5,914,872 | 334,922,499 |
What a typical home costs per month in Watertown
At this week's average 30-year rate of 7.11%, buying the median Watertown home of $222,100 with 20% down costs about $1,597 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,967, 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 $68,438 for the 20%-down payment. That payment is 27% of the median Watertown household income of $70,107; at that income and 20% down, the 28% guideline points to a home of about $228,000.
The median rent here is $1,052 a month, so owning the median home costs about $545 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $44,420 |
|---|---|
| Loan amount | $177,680 |
| Principal and interest | $1,195 |
| Property taxes (1.67% a year) | $309 |
| Homeowners insurance (our estimate, 0.5% a year) | $93 |
| PMI | $0 |
| Total per month | $1,597 |
Change the numbers in the calculator
| Down payment | $7,774 |
|---|---|
| Loan amount | $218,077 |
| Principal and interest | $1,467 |
| Property taxes (1.67% a year) | $309 |
| Homeowners insurance (our estimate, 0.5% a year) | $93 |
| FHA mortgage insurance | $98 |
| Total per month | $1,967 |
Change the numbers in the calculator
Questions about home buying in Watertown
What is the median home value in Watertown?
About $222,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Watertown?
Homeowners pay a median $3,706 a year, which is about 1.67% 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 Watertown?
For the median home with 20% down at 7.11%, the payment is about $1,597 a month. Keeping that under 28% of gross income takes about $68,438 a year.
More about Watertown
- Mortgage Refinance in Watertown
- Debt Relief in Watertown
- Home Equity Loans in Watertown
- 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