Rental numbers for the Watertown, SD metro
The typical home here runs -$1,624 a month at 7.78% with 25% down. 0 of 1 ZIP codes with full Zillow data in this metro are cash-flow positive; the median gross yield is 4.1%.
- Gross yield
- 3.9%
- typical home, Zillow
- Median ZIP yield
- 4.1%
- 1 ZIPs with full data
- Cash flow
- -$1,624/mo
- at 7.78%, 25% down
- Typical price
- $344,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,118/mo
- Zillow ZORI, Aug 2026
ZIP codes in the metro
10 with published figures
| 57223Castlewood | $339,000 | $1,170* | 4.1% | 1.0% | -$1,545 | n/a |
| 57201Watertown | $328,000 | $1,115 | 4.1% | 1.0% | -$1,496 | n/a |
| 57221Bryant | $290,000 | $930* | 3.8% | 0.7% | -$1,398 | n/a |
| 57234Estelline | $291,000 | $930* | 3.8% | 0.4% | -$1,485 | n/a |
| 57248Erwin | $380,000 | $1,180* | 3.7% | 0.7% | -$1,826 | n/a |
| 57241Hayti | $310,000 | $930* | 3.6% | 0.3% | -$1,594 | n/a |
| 57243Henry | $520,000 | $1,050* | 2.4% | -0.6% | -$3,049 | n/a |
| 57235Florence | $523,000 | $1,010* | 2.3% | -0.2% | -$2,911 | n/a |
| 57242Hayti | $542,000 | $1,010* | 2.2% | -0.2% | -$3,027 | n/a |
| 57263South Shore | $532,000 | $930* | 2.1% | -0.6% | -$3,133 | n/a |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +4.2%
- Rent, 12 months
- n/a
- Rent minus price growth
- n/a
- Property tax
- 1.04%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $280,169 | n/a |
| Aug 2022 | $321,757 | n/a |
| Aug 2023 | $328,658 | n/a |
| Aug 2024 | $335,340 | n/a |
| Aug 2025 | $330,024 | n/a |
| Aug 2026 | $343,952 | $1,118 |
Counties
- Codington County, SD4.1% median yield
- Hamlin County, SDn/a median yield
Tools
Test a listing in the Watertown, SD area against today's rate.
Open the calculatorQuestions
- Is the Watertown, SD metro good for rental property?
- The typical home here runs -$1,624 a month at 7.78% with 25% down. 0 of 1 ZIP codes with full Zillow data in this metro are cash-flow positive; the median gross yield is 4.1%. Figures assume a typical home, 7.78% with 25% down and the default costs on the methodology page.
- Which ZIP codes in the Watertown, SD metro have the highest rental yield?
- 57201 (Watertown) at 4.1%, on Zillow value and rent. The full table above sorts by any column.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.