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Watertown, SD Homes for Rent

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  • /48

    Starting at $961 Per Month

    • Studio - 2 Beds

    218 19th St SE, Watertown, SD 57201

    The Oaks is a modern apartment community conveniently located in the heart of Watertown, SD, just a five-minute walk from the Target shopping center, one mile from Lake Area Technical Institute, and less than three miles from Prairie Lakes Hospital. After the success of The Oaks I, we built The Oaks II to bring residents even more of the place they love. It's easy to see why residents feel so at

    The Oaks I & II

    218 19th St SE, Watertown, SD 57201
  • /32

    Starting at $1,055 Per Month

    • 1 - 2 Beds

    26 1st Ave SW, Watertown, SD 57201

    Welcome to Generations on 1st in Watertown, SD! Our apartment community offers controlled building access for added security and peace of mind. Say goodbye to hauling trash down flights of stairs with our convenient garbage chute access. Enjoy a smoke-free environment both inside the building and on the grounds. Elevators make moving in and out a breeze, while in-unit washer and dryer units and

    Generations on 1st

    26 1st Ave SW, Watertown, SD 57201
  • /39

    Starting at $950 Per Month

    • 1 - 2 Beds

    1845 Westminster Ave, Watertown, SD 57201

    Wilkeshire Apartments are located in the perfect area of Watertown, SD. Living here, you will have easy access to the shopping centers, lakes, parks, golf courses, restaurants, schools, while still living in a quiet, peaceful neighborhood. You’ll love being a part of this beautiful community.

    Wilkeshire Apartments

    1845 Westminster Ave, Watertown, SD 57201
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    Starting at $455 Per Month

    • 1 - 3 Beds

    2330 Challenger Way, Watertown, SD 57201

    Discover Watertown’s newest affordable community offering beautiful 1-, 2-, and 3-bedroom homes. This brand new property features modern interiors, great views, and high quality amenities, all at comfortable, budget friendly rates. Enjoy fresh construction, stylish finishes, and a welcoming place to call home.

    Mary's Heights Apartments

    2330 Challenger Way, Watertown, SD 57201
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    Starting at $1,175 Per Month

    • 1 - 3 Beds

    1604 4th St NE, Watertown, SD 57201

    Welcome to The Plains Apartments in Watertown, SD! Our community offers a range of amenities to enhance your lifestyle. Stay active in our fitness room, pamper your furry friends in the pet spa, and let your pups run free in the on-site dog park. Enjoy the convenience of included internet and gather with neighbors in the clubhouse. Experience comfortable living at The Plains Apartments.

    The Plains Apartments

    1604 4th St NE, Watertown, SD 57201
  • /6

    $800 Per Month

    • 1 Bed
    • 1 Bath
    • 540 Sq Ft
    • Townhouse for Rent

    105 1st Ave SW, Watertown, SD 57201

    Newly renovated 1 bedroom 1 bath apartment. Owner pays water, tenant pays electricity, gas, sewer and garbage. On site laundry. $800 deposit, 12 month lease. $40 application fee, reference, background, criminal and credit checks apply.

    105 1st Ave SW, Watertown, SD 57201
  • /16

    $1,350 Per Month

    • 2 Beds
    • 1 Bath
    • House for Rent

    1011 1st Ave SE, Watertown, SD 57201

    Introducing our charming 2-bedroom, 1-bathroom house located in Watertown! This cozy home features a back patio and a convenient double-stall detached garage for parking! Washer and Dryer hookups available for your convenience. Tenant is responsible for lawn and snow removal. Don't miss out on this fantastic opportunity to make this house your new home!Call Citi-Wide Property Management

    1011 1st Ave SE, Watertown, SD 57201
  • /6

    $1,100 Per Month

    • 2 Beds
    • 1 Bath
    • Townhouse for Rent

    317 3rd Ave SE, Watertown, SD 57201

    Newly updated 2 bed, 1 bath duplex. Off street parking, shared laundry. Tenant pays utilities. $40 application fee, reference, background, criminal and credit checks apply. 12 month lease. No pets

    317 3rd Ave SE, Watertown, SD 57201
  • /15

    $1,200 Per Month

    • 2 Beds
    • 1 Bath
    • Condo for Rent

    5 S Broadway Unit 2, Watertown, SD 57201

    Downtown Upper-Level Unit – Conveniently located downtown with all utilities included! This unit features a fridge and stove, in-unit stacked washer/dryer, radiator heat, and wall A/C. On-street parking is available, with additional public parking nearby. Call Citi-Wide Property Management for a showing today!

    5 S Broadway Unit 2, Watertown, SD 57201
  • /9

    $1,250 Per Month

    • 2 Beds
    • 1 Bath
    • House for Rent

    107 4th Ave SE, Watertown, SD 57201

    This is a beautiful 2-bedroom 1 bath house. It includes a nice sized back yard, laundry hook ups, and off-street parking. Tenant is responsible for all utilities, Snow removal, and lawn maintenance. Call Citi-Wide Property Management to schedule a showing!

    107 4th Ave SE, Watertown, SD 57201
  • /7

    $1,800 Per Month

    • 1 Bed
    • 1 Bath
    • Condo for Rent

    6 S Broadway Unit 1, Watertown, SD 57201

    New 1 bedroom uptown apartment. This unit is absolutely gorgeous! On site laundry. $1800/month includes utilities. Year lease. $40 application fee. Background checks required. There is the possibility of renting this unit fully furnished at an additional cost.

    6 S Broadway Unit 1, Watertown, SD 57201
  • /10

    $925 Per Month

    • 2 Beds
    • 1 Bath
    • Condo for Rent

    1320 4th Ave SE Unit B, Watertown, SD 57201

    Cozy upper-level unit in a 4-plex! This apartment features a refrigerator, stove, wall A/C, baseboard heating, and washer/dryer hookups. Enjoy the convenience of a single-stall detached garage, with lawn care and snow removal provided by management. Tenant pays all utilities.Call Citi-Wide Property Management for a showing!

    1320 4th Ave SE Unit B, Watertown, SD 57201
  • /5

    $1,200 Per Month

    • Studio
    • 1 Bath
    • Townhouse for Rent

    420 4th St NE, Watertown, SD 57201

    Fully furnished month to month renal. Includes all utilities, Wi-Fi and cable tv. Kitchenette, walk in shower, on site laundry.

    420 4th St NE, Watertown, SD 57201
  • /2

    $1,400 Per Month

    • 3 Beds
    • 1 Bath
    • House for Rent

    304 3rd Ave NE, Watertown, SD 57201

    3 Bedroom, 1 Bathroom House This spacious 3-bedroom, 1-bathroom home offers comfortable living with plenty of room to spread out. The home features a functional layout with three bedrooms, two full bathrooms, and inviting living spaces that make it easy to feel at home. Located in a convenient neighborhood with easy access to local shopping, dining, schools, and other amenities, this

    304 3rd Ave NE, Watertown, SD 57201
  • /18

    $1,650 Per Month

    • 3 Beds
    • 1 Bath
    • House for Rent

    207 3rd St SW, Watertown, SD 57201

    4 Bedroom, 2 Bathroom House with Double-Stall Garage This spacious 4-bedroom, 2-bathroom home offers comfortable living with plenty of room to spread out. The home features a practical layout, two full bathrooms, and a double-stall detached garage providing convenient parking, storage, or workspace. Rent: $1,650/month Security Deposit: $1,650 Features: - 4 bedrooms

    207 3rd St SW, Watertown, SD 57201

Why Live in Watertown

Watertown, South Dakota, with a population of around 22,000, is known for its picturesque landscapes, including Lake Kampeska and Pelican Lake, which offer year-round recreational activities such as fishing, boating, and ice fishing. The city is home to the Redlin Art Center, showcasing the works of local artist Terry Redlin, and features over 20 public parks, including the expansive Stokes-Thomas Lake City Park & Campground. Watertown's attractions also include the Bramble Park Zoo, the Goss Opera House, and annual events like the Holiday Light Parade and Cookin’ on Kampeska. The city’s downtown area, particularly along Broadway Avenue, is lined with historic buildings, casual dining options, and breweries. Watertown School District is highly rated, and the Lake Area Technical College provides strong educational opportunities. Housing options range from late 1800s cottages to ranch-style and split-level homes from the late 20th century. The city’s crime rates are lower than both national and state averages, contributing to its appeal as a family-friendly community. Watertown is accessible via Interstate 29, which connects to Sioux Falls, and has a regional airport with flights to major hubs.

Frequently Asked Questions

How much does it cost to rent a home in Watertown, SD?
The median rent for a home in Watertown, SD is $1,225 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Watertown, SD?
To comfortably afford the median rent in Watertown, SD, a household needs to earn roughly $49,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,225 per month in Watertown, SD, renters typically need to show $3,675 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Watertown, SD?
In Watertown, SD, the price-to-rent ratio is 20.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
15
Median Rent
$1,225
Median Single Family Home Rent
$1,250
Median Condo Rent
$1,200
How to Rent a Home