Watertown, SD Metro Area - Investment Guide
Metro Area • 7 Cities • 8 ZIP Codes
Avg Home Value
$402,863
Avg Monthly Rent
$928
Avg Cap Rate
1.93%
Avg Investability
2.3 ★
Cities
7
ZIP Codes
8
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Market Trends
Metro Home Value History
Metro Rent History
🏦 30-yr Fixed Rate:
6.76%
as of Sep 10
Source: Freddie Mac PMMS
☀️
WARM MARKET
Watertown, SD Metro Area
Seller-favorable conditions, steady activity
0 days
Average time to sell
Very Fast
7.9%
Listings with price cuts
Few Cuts
0.0%
Sale price vs asking
Below Ask
0.0%
Income needed for mortgage
Affordable
📅
Market conditions data as of August 29, 2026 — updated weekly
Best ZIP codes in Watertown, SD
Every ZIP in the metro, ranked four ways. Free.
Cities in Watertown, SD
Top ZIP Codes by Investability
| ZIP Code | City | State | Home Value | Rent | Cap Rate | Rating |
|---|---|---|---|---|---|---|
| 57234 | Estelline | SD | $269,808 | $837 | 2.42% | |
| 57201 | Watertown | SD | $334,067 | $1,207 | 2.82% | |
| 57234 | Estelline | SD | $291,541 | $837 | 2.24% | |
| 57201 | Watertown | SD | $314,116 | $1,175 | 2.92% | |
| 57234 | Estelline | SD | $265,844 | $837 | 2.46% | |
| 57201 | Watertown | SD | $329,543 | $1,281 | 3.03% | |
| 57234 | Estelline | SD | $286,909 | $837 | 2.28% | |
| 57201 | Watertown | SD | $314,116 | $1,175 | 2.92% | |
| 57234 | Estelline | SD | $265,844 | $837 | 2.46% | |
| 57201 | Watertown | SD | $320,477 | $1,084 | 2.64% | |
| 57234 | Estelline | SD | $281,275 | $837 | 2.32% | |
| 57201 | Watertown | SD | $326,761 | $1,205 | 2.88% | |
| 57234 | Estelline | SD | $297,916 | $837 | 2.19% | |
| 57201 | Watertown | SD | $314,718 | $825 | 2.04% | |
| 57221 | Bryant | SD | $272,585 | $837 | 2.40% | |
| 57241 | Hayti | SD | $322,681 | $837 | 2.02% | |
| 57242 | Hayti | SD | $541,844 | $909 | 1.31% | |
| 57223 | Castlewood | SD | $324,809 | $1,053 | 2.53% | |
| 57263 | South Shore | SD | $557,161 | $837 | 1.17% | |
| 57235 | Florence | SD | $499,184 | $909 | 1.42% | |
| 57241 | Hayti | SD | $295,751 | $837 | 2.21% | |
| 57242 | Hayti | SD | $511,014 | $909 | 1.39% | |
| 57221 | Bryant | SD | $292,994 | $837 | 2.23% | |
| 57223 | Castlewood | SD | $346,178 | $1,053 | 2.37% | |
| 57263 | South Shore | SD | $542,871 | $837 | 1.20% | |
| 57235 | Florence | SD | $526,946 | $909 | 1.35% | |
| 57221 | Bryant | SD | $270,425 | $837 | 2.41% | |
| 57241 | Hayti | SD | $312,645 | $837 | 2.09% | |
| 57242 | Hayti | SD | $545,472 | $909 | 1.30% | |
| 57223 | Castlewood | SD | $321,975 | $1,053 | 2.55% | |
| 57263 | South Shore | SD | $577,671 | $837 | 1.13% | |
| 57235 | Florence | SD | $508,542 | $909 | 1.39% | |
| 57241 | Hayti | SD | $304,562 | $837 | 2.14% | |
| 57242 | Hayti | SD | $539,834 | $909 | 1.31% | |
| 57221 | Bryant | SD | $296,062 | $837 | 2.21% | |
| 57263 | South Shore | SD | $568,704 | $837 | 1.15% | |
| 57223 | Castlewood | SD | $344,789 | $1,053 | 2.38% | |
| 57235 | Florence | SD | $513,217 | $909 | 1.38% | |
| 57221 | Bryant | SD | $270,425 | $837 | 2.41% | |
| 57241 | Hayti | SD | $314,639 | $837 | 2.07% | |
| 57242 | Hayti | SD | $542,800 | $909 | 1.31% | |
| 57223 | Castlewood | SD | $321,975 | $1,053 | 2.55% | |
| 57263 | South Shore | SD | $580,815 | $837 | 1.12% | |
| 57235 | Florence | SD | $508,542 | $909 | 1.39% | |
| 57241 | Hayti | SD | $304,562 | $837 | 2.14% | |
| 57221 | Bryant | SD | $286,188 | $837 | 2.28% | |
| 57242 | Hayti | SD | $539,834 | $909 | 1.31% | |
| 57263 | South Shore | SD | $568,704 | $837 | 1.15% | |
| 57223 | Castlewood | SD | $337,202 | $1,053 | 2.44% | |
| 57235 | Florence | SD | $508,756 | $909 | 1.39% |
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About Watertown, SD Real Estate Market
The Watertown, SD metropolitan statistical area (MSA) encompasses 7 cities and 8 ZIP codes. The average home value across the metro is $402,863, with an average monthly rent of $928. Explore individual cities and ZIP codes to find investment opportunities that match your criteria.