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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 19,343, 7,228 total housing units (homes and apartments), and a median house value of $327,858, real estate costs in East Lyme 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 East Lyme, accounting for 83.22% of the town's housing units. Other types of housing that are prevalent in East Lyme include large apartment complexes or high rise apartments ( 7.93%), duplexes, homes converted to apartments or other small apartment buildings ( 5.30%), and a few row houses and other attached homes ( 3.46%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in East Lyme. Owner-occupied housing accounts for 72.27% of East Lyme's homes, and 65.22% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in East Lyme 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 East Lyme built between 1940-1969 ( 30.74%). A lesser amount of the housing stock also hails from before 1939 ( 18.65%). There's also some housing in East Lyme built between 2000 and later ( 11.99%).
Vacant housing appears to be an issue in East Lyme. Fully 12.13% of the housing stock is classified as vacant. Left unchecked, vacant East Lyme homes and apartments can be a drag on the real estate market, holding East Lyme 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.
East Lyme's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in East Lyme during the period has been just -2.01%, which is lower than 80% of US communities.
Over the last year, East Lyme appreciation rates have trailed the rest of the nation. In the last twelve months, East Lyme's appreciation rate has been 2.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in East Lyme were at -1.34%, which equates to an annual appreciation rate of -5.24%.
Notably, East Lyme's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Connecticut, our data show that East Lyme'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 town. Individual neighborhoods within East Lyme differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in East Lyme - 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 East Lyme real estate investment or home purchase decisions.
|$765,001 - $1,019,000||1.4|
|$510,001 - $765,000||11.6|
|$408,001 - $510,000||10.9|
|$305,001 - $408,000||25.4|
|$204,001 - $305,000||35.1|
|$102,001 - $204,000||11.2|
|$51,001 - $102,000||0.8|
|$0 - $51,000||1.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF East Lyme HOMES|
|2000 or Newer||12.0|
|1970 - 1999||38.6|
|1940 - 1969||30.7|
|1939 or Older||18.6|
|TYPE OF East Lyme HOMES|
|Small Apt. Buildings||5.3|
|SIZE OF East Lyme HOMES|
|5 or more bedrooms||6.02|