Cromwell, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Cromwell Neighborhoods Since 2000




Cromwell, 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

Cromwell Housing Market Information

With a population of 14,034, 5,456 total housing units (homes and apartments), and a median house value of $277,407, Cromwell real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cromwell, accounting for 58.07% of the town's housing units. Other types of housing that are prevalent in Cromwell include large apartment complexes or high rise apartments ( 19.31%), row houses and other attached homes ( 14.20%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.42%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cromwell. Owner-occupied housing accounts for 81.32% of Cromwell's homes, and 54.81% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cromwell 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 Cromwell built between 1940-1969 ( 23.81%). A lesser amount of the housing stock also hails from before 1939 ( 13.89%). There's also some housing in Cromwell built between 2000 and later ( 11.70%).

Cromwell Home Appreciation Rates

Cromwell's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cromwell during the period has been just -1.66%, which is lower than 80% of US communities.

Over the last year, Cromwell appreciation rates have trailed the rest of the nation. In the last twelve months, Cromwell's appreciation rate has been 1.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cromwell were at -1.07%, which equates to an annual appreciation rate of -4.22%.

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

Relative to Connecticut, our data show that Cromwell's latest annual appreciation rate is higher than 70% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$277,407

Cromwell, CT HOME PRICES

Value Range
> $1,002,000 0.7
$752,001 - $1,002,000 0.2
$501,001 - $752,000 7.8
$401,001 - $501,000 8.5
$300,001 - $401,000 18.7
$200,001 - $300,000 33.7
$100,001 - $200,000 27.6
$50,001 - $100,000 1.3
$0 - $50,000 1.5

Average for CT
Very High for Nation

Value Relative to Nation Value Relative to State
18.7507324504863 49.112426035503

Number Of Homes And Apartments:
5,456

Cromwell 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
31.93% 1.62% 7 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,389 / per month

Homeownership Rate

Homeownership
Owners 81.32
Renters 18.68
Vacant 6.67

Housing Market Details

 

Age of Homes

AGE OF Cromwell HOMES
2000 or Newer 11.7
1970 - 1999 50.6
1940 - 1969 23.8
1939 or Older 13.9

Types of Homes

TYPE OF Cromwell HOMES
Single-Family 58.1
Townhomes 14.2
Small Apt. Buildings 8.4
Apt. Complexes 19.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Cromwell HOMES
No Bedroom 1.51
1 Bedroom 9.66
2 Bedrooms 30.55
3 Bedrooms 37.92
4 Bedrooms 16.88
5 or more bedrooms 3.47