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Studio Apartments for Rent in Watertown, SD

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    Starting at $866 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
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    $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

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 $1,000 per month, though prices vary by neighborhood, size, and property type. As of August 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 $40,000 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 $1,000 per month in Watertown, SD, renters typically need to show $3,000 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 25.0, 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
2
Median Rent
$1,000
Median Single Family Home Rent
$1,450
Median Condo Rent
$925
How to Rent a Home