The Oaks I & II
218 19th St SE,
Watertown, SD 57201
Studio - 2 Beds | $866 - $1,749
Rental Market Trends in Watertown, SD
Updated September 2026
The average rent in Watertown, SD is $1,053/month.
Rent in Watertown is 37% lower than the national average rent of $1,665/month, making this one of the less expensive cities statewide.
$1,053/month
Average Rent
703 Sq Ft
Average Size
+1.6%
Change / Year
103
Available Apartments
Watertown rent varies by unit size and layout:
- Studio apartments in Watertown average $970 per month.
- One-bedroom apartments in Watertown average $1,053 per month.
- Two-bedroom apartments in Watertown average $1,369 per month.
- Three-bedroom apartments in Watertown average $1,657 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Watertown, SD?
In the past year, rent has increased by 1.6%, which averages out to $18 more per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in Watertown, SD
September 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
8%
Below $700/month
8%
$700 - $1,000/month
77%
$1,001 - $1,500/month
8%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Watertown, SD?
Because the average rent in Watertown is $1,053, you’ll want to make about $3,510 per month or $42,120 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Watertown, SD compare to other nearby cities and neighborhoods?
Use the tool below to compare Watertown, SD to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Watertown Area GuideApartment Communities in Watertown We Think You'll Love
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Frequently Asked Questions
What is the average rent in Watertown?
The average rent in Watertown is $1,053 per month, which is 36.8% lower than the national average of $1,665.
Are rents going up or down in Watertown?
Rents in Watertown, SD are increasing, with prices up 1.6% year-over-year and $18 more per month.
What rent range is most common in Watertown?
In Watertown, SD, 77% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in September 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.