Apartments for Rent in Watertown, SD

Prices and availability in Watertown, SD were last updated on 30 Jun 2026.

The best apartments in Watertown, SD are: The Oaks, Generations on 1st and Parkside Place - Watertown, SD.

The average rent in Watertown, SD is $829.

The price range for a studio apartment in Watertown, SD is between $1,055 and $1,580.

The price range for a 1-bedroom apartment in Watertown, SD is between $1,055 and $1,385.

In Watertown 35% of the housing is rented out compared to 65% of homes are owned, according to the most recent Census Bureau estimates. 7% of Watertown's apartments are found in large buildings of 50 units or more, 59% are located in smaller apartment complexes with less than 50 units, and 25% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Watertown are about 34 years old, on average. Of these, 31% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 4 stories. About 53% of the rental communities here are low-rise, garden-style communities, 47% are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Rental apartments in Watertown come in a range of sizes and floorplans. Studio apartments represent 21% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 68% of the total apartments in the city, while 2-bedroom floorplans represent around 12% of all rentals in Watertown. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.