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City · 22,774 residents · Jefferson County, Wisconsin

Watertown , Wisconsin

In Watertown, a typical home is worth $222,100 and typical rent is $1,052 a month. Compared with all of Jefferson County, the typical home value is 19% lower, typical household income is 16% lower, and the share of households that own their home is 11 points lower.

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  • Typical home value

    $222,100

    19% below the county

    17% below Wisconsin

    • Watertown
    • Jefferson
    • Wisconsin

  • Typical rent

    $1,052a month

    About the same as the county

    3% below Wisconsin

    • Watertown
    • Jefferson
    • Wisconsin

  • Typical household income

    $70,107a year

    16% below the county

    10% below Wisconsin

    • Watertown
    • Jefferson
    • Wisconsin

  • Households that own their home

    62%

    11 points below the county

    6 points below Wisconsin

    • Watertown
    • Jefferson
    • Wisconsin

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

Market now, with Zillow data

Zillow data
Typical home value
$328,038
6.4% more than 12 months ago
Typical rent
$1,182 a month

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

Watertown is in Jefferson County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Jefferson County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Watertown apart

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

  1. Nearby, in Columbus, the typical rent is $874: 17% less than in Watertown ($1,052).

  2. The typical home in Watertown is worth $222,100, 19% less than in Jefferson County as a whole ($274,100).

  3. 62% of households in Watertown own their home, against 73% in Jefferson County.

  4. The typical household income in Watertown is $70,107, 16% less than in Jefferson County as a whole ($83,750).

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, 6 in 10 homes are single-family detached houses; in Jefferson County, 7.

Year built

Homes in Watertown are older: the typical year built is 1969; in Jefferson County, 1973.

There are fewer big homes in Watertown than in Jefferson County: 58% have 3 bedrooms or more, against 67%.

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

With a mortgage

$1,511 a month

Jefferson County: $1,730 a month

Without a mortgage

$655 a month

Jefferson County: $691 a month

Owners with a mortgage

64%

Jefferson County: 62%

Owning costs less in Watertown: with a mortgage, the typical cost is $1,511 a month; in Jefferson County, $1,730. Without one, $655.

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

From 2015–2019 to 2020–2024, home values in Watertown rose at about the same pace as in Jefferson County: 45% against 44%.

The typical rent in Watertown rose 22% since 2015–2019, about the same as in Jefferson County (21%).

While home values in Watertown changed +45% and rent +22%, the typical household income rose 36%.

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

MeasureWatertownJefferson CountyWisconsinUnited States
Rental vacancy Unreliable estimate4.5%4.5%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.5%0.9%
More than one person per room 3.6%1.3%1.7%3.4%
People per household 2.402.372.332.53
Drive alone 79%77%74%69%
Carpool 9%8%7%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike 4%3%3%3%
Work from home 7%11%13%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate20 to 29 minutes10 to 19 minutes20 to 29 minutes

More households are short on space in Watertown: 3.6% have more than one person per room; in Jefferson County, 1.3%.

A household in Watertown has 2.40 people on average, about the same as in Jefferson County (2.37).

To get to work, 79% of workers in Watertown drive alone; in Jefferson County, 77%.

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 is tight for the typical income

We start with a typical home in Watertown, worth $222,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 34% of the typical household income in Watertown, which is $70,107 a year. For that payment to be 28% of income, a household would need to earn about $84,737 a year.

The calculator's FHA and conventional loan limits are those of all of Jefferson 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 $7,774 (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

$1,977

at 7.18% · 30 years

Loan amount
$218,077
Total interest
$313,761
Paid off in
November 2056

Includes $3,751 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,636 a month

  • Tight

    $1,636 to $2,103 a month

    Your payment · 34%

  • Hard

    more than $2,103 a month

Compared with the typical household income in Watertown ($70,107 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,977
Principal & interest$1,477
Property tax$309
Home insurance$93
FHA mortgage insurance (MIP)$98

You need at least $7,774 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 Jefferson County

Watertown is in Jefferson County, Wisconsin. 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
$222,100
Typical monthly rent
$1,052
Typical yearly household income
$70,107
Households that own their home
62%
Effective property tax rate
1.67%

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

Numbers for all of Jefferson County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,209
Price change over 5 years (FHFA)
+56%
Homes in a high flood-risk zone
2.4%

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 Jefferson County.

Everything about Jefferson County

Buying

Buying a home in Watertown

A typical home in Watertown is worth $222,100: 19% below the county and 17% below Wisconsin. With the typical household income in Watertown ($70,107 a year), a typical home costs 3.2 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 3.2 years
  • Jefferson 3.3 years
  • Wisconsin 3.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Jefferson County

According to FHFA’s house price index, home prices in Jefferson County rose 93% in the 10 years through 2025.

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

Period County Wisconsin U.S.
Last year (2025) +5.3% +5.4% +2.9%
5 years (2020–2025) +56% +57% +47%
10 years (2015–2025) +93% +96% +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 Jefferson County, Wisconsin and the U.S.

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

Typical home value
  • Watertown $222,100
  • Jefferson $274,100
  • Wisconsin $266,500
  • United States $332,700
Typical monthly rent
  • Watertown $1,052
  • Jefferson $1,035
  • Wisconsin $1,087
  • United States $1,413
Typical yearly household income
  • Watertown $70,107
  • Jefferson $83,750
  • Wisconsin $77,485
  • United States $80,734
See the full table
Watertown next to Jefferson County and Wisconsin
Measure Watertown Jefferson County Wisconsin U.S.
Typical home value $222,100 $274,100 $266,500 $332,700
Typical monthly rent $1,052 $1,035 $1,087 $1,413
Typical yearly household income $70,107 $83,750 $77,485 $80,734
Households that own their home 62% 73% 68% 65%
Typical yearly property tax $3,706 $4,005 $3,792 $3,119
Effective property tax rate 1.67% 1.46% 1.42% 0.94%
Renters with high rent for their income 40% 39% 44% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Jefferson 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 $222,100 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 $1,977a month

    Least cash to close
    Down payment
    $7,774
    Cash to close
    $14,437
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $98

  • Conventional, 5% down $1,936a month

    Down payment
    $11,105
    Cash to close
    $17,768
    Rate
    7.18%
    Mortgage insurance
    PMI · $105

  • Conventional, 20% down, no PMI $1,605a month

    Down payment
    $44,420
    Cash to close
    $51,083
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,811a month

    Down payment
    $33,315
    Cash to close
    $39,978
    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 Jefferson County.

Property tax

Effective rate in Watertown

1.67%of the home’s value each year

$3,706 a year for the typical owner in Watertown.

  • Watertown 1.67%
  • Jefferson 1.46%
  • Wisconsin 1.42%

What Wisconsin publishes Lottery and Gaming Credit for your primary residence (Wisconsin Department of Revenue)

Exemptions and deadlines in Wisconsin

Flood risk in Jefferson County

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

Homes in the high-risk zone
2.4%
729
Of those, with NFIP insurance
17%
County Wisconsin U.S.
Homes in the high-risk zone 2.4% 1.4% 3.5%
Of those, with NFIP insurance 17% 19% 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 $1,052 a month: about the same as the county. In Watertown, 40% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Jefferson County, by unit size. To pay the 2-bedroom one ($1,209 a month) without spending more than 30% of your income, you would need to earn $23.25 an hour working full time.

HUD fair market rent for all of Jefferson County

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 $842 $16.19 $33,680
1 bedroom $958 $18.42 $38,320
2 bedrooms $1,209 $23.25 $48,360
3 bedrooms $1,635 $31.44 $65,400
4 bedrooms $1,652 $31.77 $66,080

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

By ZIP code

Fair market rent by ZIP code in Watertown

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Watertown has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,200 in 53094 to $1,250 in 53098.

1 of the 2 is above the fair market rent for Jefferson County ($1,209).

  • 53094 $1,200$1,620
  • 53098 $1,250$1,660

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Watertown when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Watertown

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

  • Watertown East I & II 1155 Boughton St, Watertown 53094 136 homes, 133 low-income · For families (920) 206-8541
  • Johnson Arms & Scat Sites 201 N Water St, Watertown 53094 80 homes, 78 low-income · Run by Watertown Housing Authority · Average payment: $511 a month · Average wait: 29 months · Homes at several sites (920) 261-7795
  • Watertown East III 1153 Boughton St, Watertown 53094 56 low-income homes · For families (920) 206-8541
  • Riverview Commons 112 Stimpson St, Watertown 53094 51 homes, 50 low-income · For older adults (763) 354-5500
  • The Globe Apartments 201 S Water St, Watertown 53094 48 homes, 10 low-income · 2 bd: 35 · 3 bd: 13 · In service since 2014

See all 25 buildings in Jefferson 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 is 1 HUD-approved agency with an office in Jefferson County; none says it serves in Spanish.

An older woman smiles in front of her apartment building.

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 Jefferson County. The ones below are statewide in Wisconsin: they work in Watertown the same as in the rest of the state.

Which programs do I qualify for? All programs in Wisconsin

  • WHEDA Easy Close Advantage DPA

    Statewide in Wisconsin

    Wisconsin state agency second mortgage for the down payment: up to 6% of the price, over 10 years with a monthly payment and the same rate as the WHEDA first mortgage. Offered by Wisconsin Housing and Economic Development Authority (WHEDA).

    Repayable

    See the program Official page

  • WHEDA Capital Access DPA

    Statewide in Wisconsin

    Limited funds remain, per the source

    $7,500 loan from the Wisconsin state agency for the down payment and closing costs, over 30 years, at 0% and with no monthly payments, alongside a WHEDA mortgage; limited funds, first come, first served. Offered by Wisconsin Housing and Economic Development Authority (WHEDA).

    Deferred

    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.

  • Jefferson County at Home

    874 Collins Rd, Jefferson · 15 miles away

    • Home improvement and repairs
    • Pre-purchase counseling
    • and 2 more
    (920) 674-7500

  • Housing Resources Inc - Waukesha

    217 Wisconsin Avenue Suite 411, Waukesha · 28 miles away · Spanish

    • Mortgage delinquency and default
    • Workshops for new owners
    • and 2 more
    (262) 522-1230

  • La Casa de Esperanza, Inc.

    134 Wisconsin Ave, Waukesha · 28 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 4 more
    (262) 547-0887

Every agency in Jefferson County All counseling agencies in Wisconsin

Help in Spanish near Watertown

1 of the 3 agencies on this list says it serves 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 Jefferson County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

2 other authorities have an office in Jefferson County: see the list Source: HUD

Cities

Other cities in Jefferson County

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

Everything about Jefferson County Housing in Wisconsin

Nearby cities

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

Neighboring counties

If Jefferson 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 family walks a boardwalk trail in the forest; one of them uses a wheelchair.

Questions

Housing questions about Watertown

Short answers with the numbers for Watertown and all of Jefferson 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 $222,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Jefferson County it is $274,100.

How much does it cost to rent in Watertown?

Typical rent in Watertown is $1,052 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Jefferson County is $1,209.

What is the FHA loan limit in Watertown?

Watertown uses the FHA limit for all of Jefferson County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Watertown?

The typical homeowner in Watertown pays $3,706 a year, according to the U.S. Census Bureau. That is 1.67% of the home’s value; in Jefferson County, the rate is 1.46%.

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

There is 1 HUD-approved counseling agency with an office in Jefferson County. 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); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); 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).