Quick facts: Watertown, SD

Quick Facts

98.4
Cost of Living
below US average
23,019
Population
17.64
Crime Rate per 1000
below US average
$61,320
Median Income
below US average
$215,000
Median House Price
above US average
$1075.0
Average Rent
below US average
10%
Poverty Rate
below US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $61,320.

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Income Needed to Buy

βœ— Stretch
$67k/year
Based on $215,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $67k vs median $61,320
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Income Needed to Rent

βœ“ Affordable
$46k/year
Based on $1075.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($61,320) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Watertown, SD

Watertown is a charming city located in eastern South Dakota, known for its friendly community and outdoor recreational opportunities. Situated along the shores of Lake Kampeska, the city offers beautiful waterfront views and a variety of water activities like fishing, boating, and swimming. With a population of around 21,000, Watertown serves as a regional hub for commerce and education. The historic downtown area features a mix of local shops, dining options, and cultural attractions such as the Watertown Regional Library and the Codington County Historical Museum. The city is also home to several annual events, including the Watertown Winter Farm and Craft Show, which draws visitors from surrounding areas. For nature enthusiasts, the nearby Pelican Lake and the Lake Area Technical College provide a range of recreational options. The city emphasizes community spirit, with numerous parks and an active calendar of local festivals. Overall, Watertown combines small-town charm with a strong sense of community and access to recreational attractions.

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