Quick facts: Watertown, MA

Quick Facts

119.6
Cost of Living
above US average
35,022
Population
3.45
Crime Rate per 1000
below US average
$117,625
Median Income
above US average
$689,900
Median House Price
above US average
$3153.3
Average Rent
above US average
5%
Poverty Rate
below US average
3.4%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $117,625.

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Income Needed to Buy

βœ— Stretch
$216k/year
Based on $689,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $216k vs median $117,625
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Income Needed to Rent

⚠ Stretch
$135k/year
Based on $3153.3/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $135k vs median $117,625
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Watertown, MA

Watertown is a vibrant city located in Middlesex County, Massachusetts, just a few miles from Boston. Known for its rich history, Watertown played a significant role during the American Revolution and is home to several historic sites, including the Arsenal on the Charles and the Watertown Arsenal. The city features a diverse population and a mix of residential, commercial, and recreational spaces. With its proximity to Boston, Watertown offers convenient access to urban amenities, including dining, shopping, and cultural attractions. The Charles River runs along the city's border, providing opportunities for outdoor activities such as kayaking, biking, and walking along scenic paths. The Watertown Public Library and numerous parks contribute to the community's quality of life. Education is another highlight, with the Watertown Public School system and nearby higher education institutions. The city also emphasizes sustainability, with various initiatives aimed at promoting green practices. Overall, Watertown is a welcoming community that blends historical charm with modern conveniences, making it an attractive place to live and visit.

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