ZIP Code Market Report
57201 — Watertown, SD
Data through February 2026 · Updated monthly
Avg Home Value
$317,568
▲ 1.7% year-over-year
Month-over-Month
-0.1%
▼ 0.1%
Single Family
$310,374
Condo / Co-op
--
The average home value in the 57201 ZIP code (Watertown, SOUTH-DAKOTA) is $317,568 as of February 2026. Home prices are rising, up 1.7% compared to last year.
The market in 57201 has a $353,479 spread between bottom-tier homes at $189,600 and top-tier homes at $543,079. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 57201 ZIP code will increase 1.4% over the next 12 months, bringing the projected average to approximately $322,014. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Codington County market area in SOUTH-DAKOTA. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Codington County report.
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Market Snapshot
57201 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $317,574 | $318,000 | $317,568 | No Change |
| Single Family Value | $305,258 | $307,696 | $310,374 | ▲ 1.7% |
Home Values
57201 Home Value Trend
Historical home values for ZIP code 57201. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
Property Types
Home Values by Property Type in 57201
How different property types compare in this ZIP code.
All Homes
$317,568
Single Family
$310,374
Bottom Tier
$189,600
Top Tier
$543,079
Forecast
12-Month Home Value Forecast for 57201
Zillow projects home values in 57201 will increase 1.4% over the next year, reaching approximately $322,014.
Current Value
$317,568
Projected Change
+1.4%
▲ 1.4%
Projected Value
$322,014
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 57201 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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