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.

Check out Watertown, SD rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 21 of 21
45090 Bia Hwy #500
Rent To Own
 
Single Family Home
Waubay, SD 57273
4
3
0 ft2
724 STONEY POINT TRL #412
Rent To Own
 
Townhouse/Condo
Watertown, SD 57201
2
2
1427 ft2
2021
Hot
1 of 22 263 E LAKE DR
Rent To Own
 
Single Family Home
Estelline, SD 57234
4
2
0 ft2
2006
607 WASHINGTON ST
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Bruce, SD 57220
3
1
933 ft2
1918
1034 3RD ST NE
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1959
14 21ST ST SW
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1954
712 1ST AVE SE
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1885
111 6TH AVE NE
Auction
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1911
1 of 5 208 2ND AVE SW
Auction
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1880
1501 N MAPLE
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1993
316 N PARK ST
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1900
410 7TH ST SE
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1941
417 2ND ST NW
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1887
809 9TH ST NE
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1917
109 11TH ST NW
Auction
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1930
1107 CHERRY DR
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
2005
115 4TH ST SW
Auction
 
Single Family Home
Watertown, SD 57201
0
0
0 ft2
1903
210 KLINE AVE
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Florence, SD 57235
0
0
0 ft2
1973
201 2ND ST
Pre-Foreclosure (Lis Pendens)
 
Single Family Home
Henry, SD 57243
0
0
0 ft2
1998
Map
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Buying 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

Rent to own homes offer low monthly payments and flexible terms.

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.