Bloomfield, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bloomfield, CT Real Estate Data


Bloomfield Housing Market Information

With a population of 20,749, 8,484 total housing units (homes and apartments), and a median house value of $196,073, Bloomfield real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Bloomfield homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Bloomfield, accounting for 66.50% of the town's housing units. Other types of housing that are prevalent in Bloomfield include large apartment complexes or high rise apartments ( 18.32%), duplexes, homes converted to apartments or other small apartment buildings ( 9.32%), and a few row houses and other attached homes ( 5.87%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bloomfield. Owner-occupied housing accounts for 71.16% of Bloomfield's homes, and 59.16% have either three or four bedrooms, which is average sized relative to America.

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. Bloomfield's housing was primarily built during this period, from the '40s through the '60s. A full 47.56% of the town's housing hails from this era. Other housing ages represented in Bloomfield include homes built between 1970-1999 ( 33.85%) and housing constructed between 2000 and later ( 9.77%). There's also some housing in Bloomfield built before 1939 ( 8.82%).

Bloomfield Home Appreciation Rates

Homes have actually lost value in Bloomfield over the last then years, as home values have seen a decline of 22.55% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Bloomfield home appreciation rates at 0.06%, which equates to an annual appreciation rate of 0.24%.

Over the last year, Bloomfield appreciation rates have trailed the rest of the nation. In the last twelve months, Bloomfield's appreciation rate has been -0.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Bloomfield were at 0.06%, which equates to an annual appreciation rate of 0.24%.

Relative to Connecticut, our data show that Bloomfield's latest annual appreciation rate is lower than 70% 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 Bloomfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bloomfield - 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 2000, to assist you in making the best Bloomfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$196,073

Bloomfield, CT HOME PRICES

Value Range
> $986,000 0.1
$740,001 - $986,000 0.6
$493,001 - $740,000 3.1
$394,001 - $493,000 5.2
$296,001 - $394,000 9.8
$197,001 - $296,000 32.0
$99,001 - $197,000 42.5
$49,001 - $99,000 4.6
$0 - $49,000 2.1

Very Low for CT
High for Nation

Value Relative to Nation Value Relative to State
32.9954295089652 86.3905325443787

Number Of Homes And Apartments:
8,484

Rent & Ownership

 

Average Market Rent:
$1,422 / per month

Homeownership Rate

Homeownership
Owners 71.16
Renters 28.84
Vacant 3.84

Housing Market Details

 

Age of Homes

AGE OF Bloomfield HOMES
2000 or Newer 9.8
1970 - 1999 33.9
1940 - 1969 47.6
1939 or Older 8.8

Types of Homes

TYPE OF Bloomfield HOMES
Single-Family 66.5
Townhomes 5.9
Small Apt. Buildings 9.3
Apt. Complexes 18.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Bloomfield HOMES
No Bedroom 0.91
1 Bedroom 12.88
2 Bedrooms 23.28
3 Bedrooms 46.07
4 Bedrooms 13.09
5 or more bedrooms 3.77

Bloomfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
24.33% 1.27% 4 3
* 10 is highest