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City · 35,543 residents · Middlesex County, Massachusetts

Watertown , Massachusetts

In Watertown, a typical home is worth $784,600 and typical rent is $2,502 a month. Compared with all of Middlesex County, typical rent is 14% higher, the typical home value is 8% higher, and the share of households that own their home is 14 points lower.

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  • Typical home value

    $784,600

    8% above the county

    40% above Massachusetts

    • Watertown
    • Middlesex
    • Massachusetts

  • Typical rent

    $2,502a month

    14% above the county

    42% above Massachusetts

    • Watertown
    • Middlesex
    • Massachusetts

  • Typical household income

    $126,265a year

    4% below the county

    21% above Massachusetts

    • Watertown
    • Middlesex
    • Massachusetts

  • Households that own their home

    48%

    14 points below the county

    15 points below Massachusetts

    • Watertown
    • Middlesex
    • Massachusetts

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$809,537
about the same as 12 months ago
Typical rent
$3,101 a month
2% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Watertown is in Middlesex County. The FHA loan limit ($962,550 for a one-unit home), the fair market rents and the help on this page are those of all of Middlesex County. See the county

Data updated: October 1, 2026 9 official sources

Only here

What sets Watertown apart

What this place has that others do not, from public data, most unusual first.

  1. 48% of households in Watertown own their home, against 61% in Middlesex County.

  2. Nearby, in Arlington, the typical rent is $2,082: 17% less than in Watertown ($2,502).

  3. Watertown has the 12th smallest share of rent-burdened renters of the 115 cities in Massachusetts with more than 5,000 people (43%).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Watertown

What homes there are in Watertown, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Watertown there is a bit of everything: no kind of home reaches half. The most common are buildings of 2 to 4 homes (43%), more than in Middlesex County (21%).

Year built

The typical home in Watertown was built in 1947, 15 years before the typical one in Middlesex County.

In Watertown, 21% of homes have 1 bedroom or none (studios); 39% have 3 bedrooms or more, against 55% in Middlesex County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

HUD's 2-bedroom fair market rent for Middlesex County is high ($3,008): at least 75% of rents in Watertown cost less than $3,000.

With a mortgage

$3,204 a month

Middlesex County: $3,224 a month

Without a mortgage

$1,087 a month

Middlesex County: $1,211 a month

Owners with a mortgage

67%

Middlesex County: 66%

In Watertown, 67% of owners have a mortgage; their typical cost is $3,204 a month, about the same as in Middlesex County.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Watertown does not have the same boundaries as in 2015–2019: that is why there is no change to compare. For reference, in Middlesex County the typical home value rose 45%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureWatertownMiddlesex CountyMassachusettsUnited States
Rental vacancy 3.8%3.4%3.5%5.5%
Homeowner vacancy Unreliable estimate0.6%0.6%0.9%
More than one person per room 2.0%2.2%2.3%3.4%
People per household 2.152.492.442.53
Drive alone 50%54%61%69%
Carpool 7%6%7%9%
Public transit 7%7%7%3%
Walk or bike 7%6%5%3%
Work from home 29%25%19%15%
Other means Unreliable estimate2%2%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

Open rentals in Watertown look like those in Middlesex County: the rental vacancy rate is 3.8%.

Much as in Middlesex County, 2.0% of households in Watertown have more than one person per room.

Fewer people live in each home here: 2.15 on average, against 2.49 in Middlesex County.

Many people here do not commute at all: 29% work from home; in Middlesex County, 25%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Watertown?

A typical home costs more than the typical income allows

We start with a typical home in Watertown, worth $784,600, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 61% of the typical household income in Watertown, which is $126,265 a year. For that payment to be 28% of income, a household would need to earn about $276,928 a year.

The calculator's FHA and conventional loan limits are those of all of Middlesex County.

Your numbers

Local data
$

Starts at the typical home value in Watertown. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $27,461 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$6,462

at 7.18% · 30 years

Loan amount
$770,389
Total interest
$1,108,409
Paid off in
November 2056

Includes $13,250 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,946 a month

  • Tight

    $2,946 to $3,788 a month

  • Hard

    more than $3,788 a month

    Your payment · 61%

Compared with the typical household income in Watertown ($126,265 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$6,462
Principal & interest$5,219
Property tax$569
Home insurance$327
FHA mortgage insurance (MIP)$347

You need at least $27,461 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Watertown and Middlesex County

Watertown is in Middlesex County, Massachusetts. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Watertown's own numbers

Typical home value
$784,600
Typical monthly rent
$2,502
Typical yearly household income
$126,265
Households that own their home
48%
Effective property tax rate
0.87%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Middlesex County

FHA limit, one-unit home
$962,550
Conventional limit, one unit
$962,550
HUD fair market rent, 2 bedrooms
$2,383–$3,008
Price change over 5 years (FHFA)
+46%
Homes in a high flood-risk zone
1%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Middlesex County.

Everything about Middlesex County

Buying

Buying a home in Watertown

A typical home in Watertown is worth $784,600: 8% above the county and 40% above Massachusetts. With the typical household income in Watertown ($126,265 a year), a typical home costs 6.2 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Watertown 6.2 years
  • Middlesex 5.6 years
  • Massachusetts 5.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Middlesex County

According to FHFA’s house price index, home prices in Middlesex County rose 83% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Middlesex County.

Period County Massachusetts U.S.
Last year (2025) +3.6% +3.7% +2.9%
5 years (2020–2025) +46% +49% +47%
10 years (2015–2025) +83% +87% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Watertown next to Middlesex County, Massachusetts and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Watertown $784,600
  • Middlesex $727,800
  • Massachusetts $562,100
  • United States $332,700
Typical monthly rent
  • Watertown $2,502
  • Middlesex $2,201
  • Massachusetts $1,762
  • United States $1,413
Typical yearly household income
  • Watertown $126,265
  • Middlesex $130,847
  • Massachusetts $103,960
  • United States $80,734
See the full table
Watertown next to Middlesex County and Massachusetts
Measure Watertown Middlesex County Massachusetts U.S.
Typical home value $784,600 $727,800 $562,100 $332,700
Typical monthly rent $2,502 $2,201 $1,762 $1,413
Typical yearly household income $126,265 $130,847 $103,960 $80,734
Households that own their home 48% 61% 63% 65%
Typical yearly property tax $6,799 $7,501 $5,992 $3,119
Effective property tax rate 0.87% 1.03% 1.07% 0.94%
Renters with high rent for their income 43% 47% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Middlesex County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Watertown

For a typical $784,600 home in Watertown, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Watertown's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $6,462a month

    Least cash to close
    Down payment
    $27,461
    Cash to close
    $50,999
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $347

  • Conventional, 5% down $6,318a month

    Down payment
    $39,230
    Cash to close
    $62,768
    Rate
    7.18%
    Mortgage insurance
    PMI · $373

  • Conventional, 20% down, no PMI $5,148a month

    Down payment
    $156,920
    Cash to close
    $180,458
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $5,873a month

    Down payment
    $117,690
    Cash to close
    $141,228
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Watertown and for Middlesex County.

Property tax

Effective rate in Watertown

0.87%of the home’s value each year

$6,799 a year for the typical owner in Watertown.

  • Watertown 0.87%
  • Middlesex 1.03%
  • Massachusetts 1.07%

What Massachusetts publishes Local senior exemption (clause 41C) (Massachusetts General Court (General Laws))

Exemptions and deadlines in Massachusetts

Flood risk in Middlesex County

FEMA does not publish these numbers by city: they are for all of Middlesex County.

Homes in the high-risk zone
1%
4,035
Of those, with NFIP insurance
54%
County Massachusetts U.S.
Homes in the high-risk zone 1% 3% 3.5%
Of those, with NFIP insurance 54% 50% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Watertown

Typical rent in Watertown is $2,502 a month: 14% above the county. In Watertown, 43% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for each area of Middlesex County; Watertown is in Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area. To pay the 2-bedroom one ($3,008 a month) without spending more than 30% of your income, you would need to earn $57.85 an hour working full time.

Fair market rent by size in Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $2,440 $46.92 $97,600
1 bedroom $2,518 $48.42 $100,720
2 bedrooms $3,008 $57.85 $120,320
3 bedrooms $3,584 $68.92 $143,360
4 bedrooms $3,953 $76.02 $158,120

HUD splits this county into 2 areas with different fair market rents: for 2 bedrooms they run from $2,383 to $3,008. The table by area, below, shows which one each town is in.

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

Fair market rent by HUD area in Middlesex County

HUD splits this county into 2 areas, each with its own fair market rent. Find your town in its area's list; the housing agency tells you which one it uses for your voucher.

HUD area Studio1 bd2 bd3 bd4 bdHourly wage, 2 bd
Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area The area where most people liveWatertown is in this area
44 towns in this area

Acton town, Arlington town, Ashby town, Ashland town, Ayer town, Bedford town, Belmont town, Boxborough town, Burlington town, Cambridge city, Carlisle town, Concord town, Everett city, Framingham city, Holliston town, Hopkinton town, Hudson town, Lexington town, Lincoln town, Littleton town, Malden city, Marlborough city, Maynard town, Medford city, Melrose city, Natick town, Newton city, North Reading town, Reading town, Sherborn town, Shirley town, Somerville city, Stoneham town, Stow town, Sudbury town, Townsend town, Wakefield town, Waltham city, Watertown city, Wayland town, Weston town, Wilmington town, Winchester town, Woburn city

 $2,440$2,518$3,008$3,584$3,953$57.85
Lowell, MA HUD Metro FMR Area
10 towns in this area

Billerica town, Chelmsford town, Dracut town, Dunstable town, Groton town, Lowell city, Pepperell town, Tewksbury town, Tyngsborough town, Westford town

 $1,659$1,831$2,383$2,878$3,132$45.83

HUD fair market rent by area and size, per month, Fiscal year 2027. The wage is what full-time work must pay to rent 2 bedrooms without spending more than 30% of income. Source: HUD, Fiscal year 2027 Source: Fair Market Rents (HUD) Fiscal year 2027 Fair Market Rents (HUD)

Low-income apartments

Low-income apartments in Watertown

HUD lists 6 buildings with rents for lower incomes in Watertown. These are the largest.

  • Arsenal Apartments 465 Arsenal St, Watertown 02472 156 low-income homes · For older adults
  • Brigham House 341 Mount Auburn St, Watertown 62 homes, 43 low-income · Studio: 62 · In service since 2003 · For older adults
  • ST Joseph & Aposs Hall 2 Rosary Dr, Watertown 25 low-income homes · 1 bd: 22 · 2 bd: 3 · In service since 2013 · For older adults
  • 1060 Belmont ST 1060 Belmont St, Watertown 18 low-income homes · Studio: 1 · 1 bd: 3 · 2 bd: 14 · In service since 2010 · For people with disabilities, families, people experiencing homelessness
  • Coolidge School Apts 319 Arlington St, Watertown 38 homes, 15 low-income · 1 bd: 16 · 2 bd: 22

See all 311 buildings in Middlesex County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Watertown

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 5 HUD-approved agencies with an office in Middlesex County; 2 say they serve in Spanish.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Watertown

No down payment, repair or rent-help program on our list is for Watertown or Middlesex County. The ones below are statewide in Massachusetts: they work in Watertown the same as in the rest of the state.

Which programs do I qualify for? All programs in Massachusetts

  • MassHousing Down Payment Assistance

    Statewide in Massachusetts

    Massachusetts state agency second mortgage for the down payment: up to $30,000 at 0% and deferred, or up to $25,000 at 2% or 3% over 15 years, for first-time buyers with eligible income. Offered by MassHousing.

    DeferredRepayable

    See the program Official page

Housing counselors near Watertown

The HUD-approved agencies closest to the center of Watertown, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • American Consumer Credit Counseling

    130 Rumford Ave Ste 202, Auburndale · 3 miles away

    • Reverse mortgage counseling
    (800) 769-3571

  • Somerville Community Corporation

    337 Somerville Ave, Somerville · 4 miles away · Spanish

    Also serves in Creole and Portuguese.

    • Budget and financial counseling
    • Budget and credit workshops
    • and 3 more
    (617) 410-9905

  • Ecumenical Social Action Committee, Inc.

    434 Jamaicaway, Jamaica Plain · 5 miles away · Spanish

    Also serves in Creole.

    • Mortgage delinquency and default
    • Budget and financial counseling
    617-524-2555-108

Every agency in Middlesex County All counseling agencies in Massachusetts

Help in Spanish near Watertown

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Watertown

HUD’s record names them for Watertown or Middlesex County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Watertown Housing Authority Public housing and Section 8 vouchers (617) 923-3950

34 other authorities have an office in Middlesex County: see the list Source: HUD

Cities

Other cities in Middlesex County

These cities are also in Middlesex County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Middlesex County Housing in Massachusetts
See 14 more cities in Middlesex County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Watertown, with the typical home value.

Neighboring counties

If Middlesex County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Watertown.

All guides
A mother holds hands with her two daughters on the beach at sunset.

Questions

Housing questions about Watertown

Short answers with the numbers for Watertown and all of Middlesex County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Watertown?

The typical home value in Watertown is $784,600, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Middlesex County it is $727,800.

How much does it cost to rent in Watertown?

Typical rent in Watertown is $2,502 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Middlesex County is $2,383–$3,008.

What is the FHA loan limit in Watertown?

Watertown uses the FHA limit for all of Middlesex County (2026): $962,550 for a one-unit home and $1,851,100 for a four-unit home.

How much property tax do owners pay in Watertown?

The typical homeowner in Watertown pays $6,799 a year, according to the U.S. Census Bureau. That is 0.87% of the home’s value; in Middlesex County, the rate is 1.03%.

Where can I find free help to buy or rent in Watertown?

There are 5 HUD-approved counseling agencies with an office in Middlesex County. 2 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).