Living in Watertown, Minnesota
Cost of living, income, home prices, rent and demographics of Watertown · Census data 2020–2024
Watertown has 4,790 residents with a median age of 33.3. The median household income is $99,671 (12% higher than the Minnesota median), the median home value is $337,200, the median rent is $927/month.
Watertown at a glance
- Population
- 4,790
- Median age
- 33.3State: 38.8
- Median household income
- $99,671State: $89,062
- Median home value
- $337,200State: $329,300
- Median rent
- $927/moState: $1,280
- Homeowners
- 82.9%
- Bachelor's degree or higher
- 22.5%
- Average commute
- 26 min
Is Watertown a good place to live?
Pros: Median household income 12% higher than the Minnesota median; unemployment of 0%; a poverty rate of 7.7%.
Cons: Home values about the same as the state median; an average commute of 26 minutes.
The weather is best in June to September.
Cost of living in Watertown
Housing is the biggest part of the cost of living. In Watertown the median home value is $337,200, about the same as the U.S. median. Renters pay a median of $927 per month, which is 20.6% of household income. Homeowners with a mortgage pay $1,964 a month in housing costs.
Watertown median household income
The median household income in Watertown is $99,671 and the income per person is $42,480. 7.7% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Watertown: homes for sale and rent
- Housing units
- 1,815
- Owner-occupied
- 82.9%
- Renter-occupied
- 17.1%
- Vacant
- 4.1%Includes seasonal homes
- Median year built
- 1996
- Average household size
- 2.72
Watertown demographics
- Population
- 4,790
- Median age
- 33.3
- Under 18
- 24.2%
- 65 and older
- 11.3%
- Households
- 1,741
- Foreign-born
- 1.4%
- Veterans
- 7.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Watertown ›
Education in Watertown
22.5% of adults 25 and older in Watertown have a bachelor's degree or higher (Minnesota: 39.4%), and 5.9% have a graduate or professional degree.
Jobs and commute in Watertown
- Unemployment rate
- 0%State: 4.1%
- Average commute
- 26 minState: 23 min
- Work from home
- 18.4%
- Drive alone
- 72.7%
- Public transit
- 0.1%
- Walk to work
- 3.8%
- Homes with broadband
- 96.1%
Watertown vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Watertown | 4,790 | $99,671 | $337,200 | $927 |
| Mayer | 2,518 | $124,917 | $342,700 | $1,563 |
| Delano | 6,942 | $109,946 | $375,200 | $964 |
| St. Bonifacius | 1,997 | $109,922 | $355,800 | $1,270 |
| Minnetrista | 8,708 | $163,051 | $658,300 | $3,501 |
| Independence | 3,694 | $186,597 | $663,400 | $3,469 |
| Montrose | 3,888 | $102,625 | $275,700 | $1,474 |
| New Germany | 595 | $93,864 | $258,000 | $1,107 |
| Waconia | 13,434 | $111,031 | $431,000 | $1,330 |
More for people moving to Watertown
Watertown ZIP code ›Weather and climate ›Living in Watertown: FAQ
What is the median household income in Watertown, MN?
The median household income in Watertown is $99,671, 12% higher than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Watertown?
The median home value in Watertown is $337,200, compared with $329,300 in Minnesota.
How much is rent in Watertown?
The median gross rent in Watertown is $927 per month, about 20.6% of household income.
Is Watertown, MN a good place to live?
Pluses: median household income 12% higher than the Minnesota median; unemployment of 0%; a poverty rate of 7.7%. Minuses: home values about the same as the state median; an average commute of 26 minutes.
What is the median age in Watertown?
The median age in Watertown is 33.3 years (Minnesota: 38.8).
How long is the commute in Watertown?
The average commute to work in Watertown is 26 minutes; 18.4% of workers work from home.
What is the unemployment rate in Watertown?
The unemployment rate in Watertown is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Watertown?
22.5% of adults in Watertown have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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