Rent to own Homes in Watertown, SD
If you are looking for a city that has the amenities of a major metropolitan area, but still feels like a small town, then you will love Watertown. With just under 22,000 residents, this city along the Big Sioux River has a lot to offer local residents and visitors alike. From great places to eat to cultural activities, there is plenty to keep anyone from getting bored.
Watertown, SD is a great place for affordable rent-to-own homes! With a median household income of over $52,145 and a median rent of $760, the Watertown, SD rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Watertown, SD. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Watertown, SD Property Resources
Rent to own Homes in Cities Near Watertown, SD
Neighborhoods in Watertown, SD
No neighborhoods foundPopular Zip Codes in Watertown, SD
No zip codes foundBuying a Home in Watertown, SD
Watertown, SD is seeing rapid growth and Watertown, SD's' housing market remains optimal with an average home price that is -19% below the 2024 national average. Watertown, SD is part of Codington county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Codington is 1.12% which is above the national average, which is 0.99%.
Median Home Price in Watertown, SD
Median Rent in Watertown, SD
Top 4 Reasons to live in Watertown, South Dakota
Awesome weather! If you like four distinct seasons and love winter snow, then you will enjoy living here. Summers are hot at times, but the season doesn't last long; winters are cold and snowy. Outdoor activities go on all year in this city, and some of the most popular places for outdoor fun include Lake Kampeska and Lake Pelican.
Great places to dine! Watertown has many outstanding choices for dinner. While there is the usual variety of fast food chains, you will likely be so busy at the local establishments that you'll never get around to a drive-thru. Clifford's Steak and Ale is considered to be one of the best, and if you read both the Yelp and Google reviews, you'll try the steak or the Hot Wings -- locals call them "wangs". They are so good that they have even been featured on the Tonight Show! If you are looking for dinner with a view, then you might want to head over to Lunkers Restaurant and enjoy fish and chips while looking out over beautiful Lake Kampeska.
Rental properties are plentiful! If you are looking for rental properties or rent to own homes, you will find a great selection here. Homes near Mount Marty College and the Lake Area Technical Institute tend to command the highest rents, but they are still quite reasonable when compared to both the state and national averages. Check out the North Shore neighborhood for a great investment in a central location.
Home values are rising! This is a great time to purchase a home or property in this community. Home values are rising, but are still low enough that it's possible for most people to easily afford their dream home. Prime real estate locations include the area near Mellette House and properties near the Redlin Art Center.