Cheshire, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cheshire, 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

Cheshire Housing Market Information

With a population of 29,262, 9,937 total housing units (homes and apartments), and a median house value of $346,433, real estate costs in Cheshire are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Connecticut communities.

Single-family detached homes are the single most common housing type in Cheshire, accounting for 78.33% of the town's housing units. Other types of housing that are prevalent in Cheshire include large apartment complexes or high rise apartments ( 10.48%), row houses and other attached homes ( 5.60%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.96%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cheshire. Owner-occupied housing accounts for 80.37% of Cheshire's homes, and 69.15% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cheshire built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cheshire built between 1940-1969 ( 40.85%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.65%). There's also some housing in Cheshire built before 1939 ( 7.56%).

Cheshire Home Appreciation Rates

Cheshire's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cheshire during the period has been just -1.78%, which is lower than 80% of US communities.

Over the last year, Cheshire appreciation rates have trailed the rest of the nation. In the last twelve months, Cheshire's appreciation rate has been -0.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cheshire were at -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Connecticut, our data show that Cheshire'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 Cheshire differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cheshire - 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 Cheshire real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$346,433

Cheshire, CT HOME PRICES

Value Range
> $992,000 1.2
$744,001 - $992,000 2.5
$496,001 - $744,000 10.0
$397,001 - $496,000 18.1
$298,001 - $397,000 30.3
$198,001 - $298,000 25.7
$99,001 - $198,000 8.1
$50,001 - $99,000 1.9
$0 - $50,000 2.1

High for CT
Very High for Nation

Value Relative to Nation Value Relative to State
12.4575178717919 26.6272189349112

Number Of Homes And Apartments:
9,937

Cheshire 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
28.94% 1.48% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,668 / per month

Homeownership Rate

Homeownership
Owners 80.37
Renters 19.63
Vacant 4.57

Housing Market Details

 

Age of Homes

AGE OF Cheshire HOMES
2000 or Newer 8.7
1970 - 1999 42.9
1940 - 1969 40.9
1939 or Older 7.6

Types of Homes

TYPE OF Cheshire HOMES
Single-Family 78.3
Townhomes 5.6
Small Apt. Buildings 5.0
Apt. Complexes 10.5
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Cheshire HOMES
No Bedroom 1.14
1 Bedroom 6.52
2 Bedrooms 17.65
3 Bedrooms 38.25
4 Bedrooms 30.90
5 or more bedrooms 5.53