Watertown, TN—37184
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Watertown, TN
As of Oct '25, the median home price in Watertown, TN is $419,000, with a year-over-year change of 2.5%. This indicates that home prices in Watertown, TN are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $419,000 | 2.5% |
| Single Family | $419,000 | 2.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $406,000 | 2.5% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Watertown, TN
As of July '25, Rentcast reports the average rent in Watertown, TN is $1,500, with a year-over-year rent change of -13.3%. Per bedroom, the median rent as of July '25 in Watertown, TN is 3-bedrooms: $1,500. The most common rental property sizes in Watertown, TN are 3-bedroom and 2-bedroom, accounting for 51.5% and 34.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,500 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,500 | $1,500 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Watertown, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Watertown, TN is 85. This is a increase of 23.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $641,000 | -13.0% |
Listing Count | 27 | -22.0% |
| Listings as % of Homes | 1.2% | -22.0% |
Days on Market | 85 | 23.0% |
Demographics — Watertown, TN
As of the latest ACS Survey released in 2023, Watertown, TN has a population of 7,220, which has increased by 20.4% over the past 5 years. Watertown, TN is a moderately popular place for families, as children make up 21.9% of the population. The area has a poorly educated workforce, with 21.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,220 | 20.4% |
% Under 18 | 21.9% | 12.3% |
% Seniors | 13.2% | -35.0% |
% WFH | 6.5% | 41.3% |
% w/ College Degree | 21.8% | 42.5% |
As of the latest ACS Survey released in 2023, Watertown, TN is a predominantly white area, with 92.4% of the population identifying as white. The white population has grown by 1.4% in the last 5 years. The second most common race or ethnicity in Watertown, TN is black, making up 3.2% of the population. Foreign-born residents account for 1.2% of the population in Watertown, TN, and this percentage has decreased by 25.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 92.4% | 1.4% |
% Black | 3.2% | 10.3% |
% Hispanic | 0.6% | -82.9% |
% Asian | 1.1% | ∞% |
% Foreign Born | 1.2% | -25.0% |
Mortgage and Risk — Watertown, TN
According to HUD data as of 2023, there were 152 mortgage originations in Watertown, TN, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Watertown, TN. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 152 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Watertown, TN
Watertown, TN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 22 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,300 |
| 2 Bedroom | N/A | N/A | $1,460 |
| 3 Bedroom | $340 | $1,500 | $1,840 |
| 4 Bedroom | N/A | N/A | $2,240 |
Affordability — Watertown, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $419,000 |
| Median Household Income | $73,900 |