Bridgeport, CT Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bridgeport, CT Housing Market Trends

With a population of 144,399, 50,638 total housing units (homes and apartments), and a median house value of $229,065, Bridgeport real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Bridgeport homes are still considered rather expensive.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Bridgeport, accounting for 36.77% of the city's housing units. Other types of housing that are prevalent in Bridgeport include large apartment complexes or high rise apartments ( 29.97%), single-family detached homes ( 26.95%), and a few row houses and other attached homes ( 6.21%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Bridgeport primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Bridgeport has a mixture of owner-occupied and renter-occupied housing.

The housing in Bridgeport was primarily built before 1939 ( 40.00%), making the housing stock in Bridgeport some of the oldest overall in America, although there is a range of ages of homes in Bridgeport. The next most important housing age is between 1940-1969 ( 36.50%), followed by between 1970-1999 ( 19.53%). There's also some housing in Bridgeport built between 2000 and later ( 3.97%).

Vacant housing appears to be an issue in Bridgeport. Fully 13.52% of the housing stock is classified as vacant. Left unchecked, vacant Bridgeport homes and apartments can be a drag on the real estate market, holding Bridgeport 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.

Bridgeport Home Appreciation Rates

Real estate appreciation rates in Bridgeport's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.09% during the period.

Appreciation rates are so strong in Bridgeport that despite a nationwide downturn in the housing market, Bridgeport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bridgeport appreciation rates continue to be some of the highest in America, at 13.09%, which is higher than appreciation rates in 98.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bridgeport. Bridgeport appreciation rates in the latest quarter were at 2.98%, which equates to an annual appreciation rate of 12.47%.

Importantly, this makes Bridgeport one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Connecticut, our data show that Bridgeport's latest annual appreciation rate is higher than 90% 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 city. Individual neighborhoods within Bridgeport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bridgeport - 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 Bridgeport real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$229,065

Bridgeport, CT HOME PRICES

> $1,267,000
1.0%
1.0%
$950,001 - $1,267,000
0.3%
0.3%
$633,001 - $950,000
0.8%
0.8%
$507,001 - $633,000
0.7%
0.7%
$380,001 - $507,000
8.2%
8.2%
$253,001 - $380,000
26.7%
26.7%
$127,001 - $253,000
45.9%
45.9%
$63,001 - $127,000
11.7%
11.7%
$0 - $63,000
4.6%
4.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very Low for CT

Value Relative To Nation

Number Of Homes And Apartments:
50,638

Bridgeport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
69.86% 2.52%
9
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,577 / per month

Homeownership Rate

Owners
40.5%
40.5%
Renters
59.5%
59.5%
Vacant
13.5%
13.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.0%
4.0%
1970 - 1999
19.5%
19.5%
1940 - 1969
36.5%
36.5%
1939 or Older
40.0%
40.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
26.9%
26.9%
Townhomes
6.2%
6.2%
Small Apt. Buildings
36.8%
36.8%
Apt. Complexes
30.0%
30.0%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.6%
3.6%
1 Bedroom
18.8%
18.8%
2 Bedrooms
36.7%
36.7%
3 Bedrooms
29.0%
29.0%
4 Bedrooms
8.9%
8.9%
5 or more bedrooms
3.0%
3.0%
0.0% 100.0%
% OF HOMES