Watertown, MA—02472
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Watertown, MA
As of Oct '25, the median home price in Watertown, MA is $818,000, with a year-over-year change of 2.1%. This indicates that home prices in Watertown, MA are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $818,000 | 2.1% |
| Single Family | $953,000 | 2.6% |
| Condos | $661,000 | 1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $465,000 | 1.1% |
2 Bed | $642,000 | 2.6% |
3 Bed | $913,000 | 2.6% |
4 Bed | $1,059,000 | 2.6% |
| 5 Bed | $1,296,000 | 2.1% |
% of Housing Stock
Rental Trends — Watertown, MA
As of July '25, Rentcast reports the average rent in Watertown, MA is $3,220, with a year-over-year rent change of -3.6%. Per bedroom, the median rent as of July '25 in Watertown, MA is studios: $2,390, 1-bedrooms: $2,850, 2-bedrooms: $3,070, 3-bedrooms: $3,840, 4-bedrooms: $4,330. The most common rental property sizes in Watertown, MA are 2-bedroom and 1-bedroom, accounting for 46.9% and 24.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,060 | $3,220 |
| Studio Rent | $2,470 | $2,390 |
| 1 Bed Rent | $2,850 | $2,850 |
| 2 Bed Rent | $2,900 | $3,070 |
| 3 Bed Rent | $3,600 | $3,840 |
| 4 Bed Rent | $4,100 | $4,330 |
% of Rental Stock
Property Listings — Watertown, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Watertown, MA is 34. This is a increase of 32.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $830,000 | -12.0% |
Listing Count | 68 | 65.0% |
| Listings as % of Homes | 0.1% | 65.0% |
Days on Market | 34 | 32.0% |
Demographics — Watertown, MA
As of the latest ACS Survey released in 2023, Watertown, MA has a population of 35,300, which has remained stable by -0.2% over the past 5 years. Watertown, MA is a less popular place for families, as children make up 14.8% of the population. The area has a highly educated workforce, with 67.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,300 | -0.2% |
% Under 18 | 14.8% | -4.5% |
% Seniors | 17.9% | 13.3% |
% WFH | 26.6% | 366.7% |
% w/ College Degree | 67.1% | 4.5% |
As of the latest ACS Survey released in 2023, Watertown, MA is a predominantly white area, with 69.7% of the population identifying as white. The white population has shrunk by 9.6% in the last 5 years. The second most common race or ethnicity in Watertown, MA is asian, making up 12.0% of the population. Foreign-born residents account for 26.5% of the population in Watertown, MA, and this percentage has increased by 25.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 69.7% | -9.6% |
% Black | 4.2% | 110.0% |
% Hispanic | 6.4% | -33.3% |
% Asian | 12.0% | 34.8% |
% Foreign Born | 26.5% | 25.0% |
Mortgage and Risk — Watertown, MA
According to HUD data as of 2023, there were 377 mortgage originations in Watertown, MA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Watertown, MA. Investor activity is low, as 4.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 377 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Watertown, MA
As of 2024, the percent of homes in Watertown, MA under the Section 8 program is 5.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Watertown, MA, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 489 |
Total Units Section 8 | 488 |
% Rentals under Section 8 | 5.9% |
% Occupied Section 8 | 95.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$310 | $2,850 | $2,540 |
| 2 Bedroom | $110 | $2,900 | $3,010 |
| 3 Bedroom | $30 | $3,600 | $3,630 |
| 4 Bedroom | -$110 | $4,100 | $3,990 |
Affordability — Watertown, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.8 |
| Median Home Price | $818,000 |
| Median Household Income | $123,000 |