Hartford appreciation rates and housing market information

Hartford housing market information

With a population of 121,578, 50,644 total housing units (homes and apartments), and a median house value of $186,882, Hartford real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Hartford homes are still considered rather expensive.

large apartment complexes or high rise apartments are the single most common housing type in Hartford, accounting for 44.53% of the town's housing units. Other types of housing that are prevalent in Hartford include duplexes, homes converted to apartments, or other small apartment buildings (36.22%), single-family detached homes (14.91%), and a few row houses and other attached homes (4.24%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

Hartford is dominated by renter-occupied one, two, or no bedroom apartments. 67.00% of Hartford's dwellings are rentals.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Hartford's housing was primarily built during this period, from the '40s through the '60s. A full 45.67% of the town's housing hails from this era. Other housing ages represented in Hartford include homes built between 1939 and earlier (32.33%), and housing constructed from 1970-1994 (20.24%). There's also some housing in Hartford built between 1995 and later (1.76%).

Vacant housing appears to be an issue in Hartford. Fully 11.18% of the housing stock is classified as vacant. Left unchecked, vacant Hartford homes and apartments can be a drag on the real estate market, holding Hartford real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hartford home appreciation rates

Hartford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hartford during the period has been just 5.33%, which is lower than % of US communities.

Over the last year, Hartford appreciation rates have trailed the rest of the nation. In the last twelve months, Hartford's appreciation rate has been -5.42%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hartford were at -0.61%, which equates to an annual appreciation rate of -2.44%.

Notably, Hartford's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Connecticut, our data show that Hartford's latest annual appreciation rate is higher than 43% of the other cities and towns in Connecticut.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Hartford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hartford - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Hartford real estate investment or home purchase decisions.