Total monthly cost of ownership
Cost to Own a Home in Watertown, South Dakota
A $212,000 home here costs
$1,769per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,090. The real number is $679 higher every month — 62% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Watertown against Codington County and South Dakota
| Measure | Watertown | Codington County |
|---|---|---|
| Median home value | $212,300 | $218,000 |
| Median property tax | $2,349 | $2,310 |
| Effective tax rate | 1.106% | 1.060% |
| Median gross rent | $904 | $901 |
| Population | 22,859 | 28,556 |
The weather behind that power bill
Watertown sits in Codington County, which averages a high of 82.0°F in its hottest month and a low of 3.1°F in its coldest, with 22.71" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 518 cooling and 8,501 heating degree days, which is what sets the $141 electricity line above.
See the full climate breakdown for Codington County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Codington County
No other places of this size are published in Codington County.
Full Codington County cost breakdown · Every county in South Dakota
Common questions
How much does it cost to own a home in Watertown?
A $212,000 home in Watertown, South Dakota costs approximately $1,769 per month with 20% down at 6.66%. That is $1,090 principal and interest, $195 property tax, $97 homeowners insurance, $209 utilities and $177 set aside for maintenance.
What is the property tax rate in Watertown?
Watertown has an effective property tax rate of 1.106%, based on a median home value of $212,300 and median real estate taxes of $2,349. That is higher than the Codington County average of 1.060%.
What is the average home price in Watertown?
The median owner-occupied home value in Watertown, South Dakota is $212,300, against $218,000 across Codington County.
Is it cheaper to rent or buy in Watertown?
Median gross rent in Watertown is $904 a month, against $1,769 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Watertown — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for South Dakota.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.