Bloomfield, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Bloomfield Neighborhoods Since 2000




Bloomfield, CT Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Bloomfield Housing Market Information

With 20,749 people, 8,484 houses or apartments, and a median cost of homes of $194,463, 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 24.45% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Bloomfield home appreciation rates at -1.07%, which equates to an annual appreciation rate of -4.22%.

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 -0.55%, 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 -1.07%, which equates to an annual appreciation rate of -4.22%.

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

Relative to Connecticut, our data show that Bloomfield's latest annual appreciation rate is lower than 50% 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:
$194,463

Bloomfield, CT HOME PRICES

Value Range
> $976,000 0.1
$732,001 - $976,000 0.6
$488,001 - $732,000 3.1
$390,001 - $488,000 5.2
$293,001 - $390,000 9.8
$195,001 - $293,000 32.0
$98,001 - $195,000 42.5
$49,001 - $98,000 4.6
$0 - $49,000 2.1

Very Low for CT
High for Nation

Value Relative to Nation Value Relative to State
33.6224071252783 86.3905325443787

Number Of Homes And Apartments:
8,484

Bloomfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
23.12% 1.21% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,435 / 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