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Groton, 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 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Groton, CT Housing Market Trends

With 38,411 people, 16,184 houses or apartments, and a median cost of homes of $261,440, Groton real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Groton homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Groton, accounting for 45.73% of the town's housing units. Other types of housing that are prevalent in Groton include large apartment complexes or high rise apartments ( 23.87%), duplexes, homes converted to apartments or other small apartment buildings ( 18.43%), and a few row houses and other attached homes ( 8.45%).

The most prevalent building size and type in Groton are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 44.96% owning and 55.04% renting.

There is a lot of housing in Groton 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 Groton built between 1940-1969 ( 29.81%). A lesser amount of the housing stock also hails from before 1939 ( 14.20%). There's also some housing in Groton built between 2000 and later ( 12.39%).

Groton Home Appreciation Rates

Groton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Groton during the period has been just 2.84%, which is lower than 80% of US communities.

Over the last year, Groton appreciation rates have trailed the rest of the nation. In the last twelve months, Groton's appreciation rate has been 10.84%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Groton were at 0.14%, which equates to an annual appreciation rate of 0.56%.

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

Relative to Connecticut, our data show that Groton's latest annual appreciation rate is lower than 70% 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 Groton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Groton - 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 Groton real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$261,440

Groton, CT HOME PRICES

> $1,293,000
$969,001 - $1,293,000
$646,001 - $969,000
$517,001 - $646,000
$388,001 - $517,000
$259,001 - $388,000
$129,001 - $259,000
$64,001 - $129,000
$0 - $64,000
1.3%
1.3%
2.4%
2.4%
4.0%
4.0%
4.6%
4.6%
14.1%
14.1%
27.1%
27.1%
33.7%
33.7%
4.4%
4.4%
8.4%
8.4%
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:
16,184

Groton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2021 Q4 - 2022 Q1
Last 12 Months:
2021 Q1 - 2022 Q1
Last 2 Years:
2020 Q1 - 2022 Q1
Last 5 Years:
2017 Q1 - 2022 Q1
Last 10 Years:
2012 Q1 - 2022 Q1
Since 2000:
2000 Q1 - 2022 Q1
79.13% 2.65%
8
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,962 / per month

Homeownership Rate

Owners
Renters
Vacant
45.0%
45.0%
55.0%
55.0%
9.7%
9.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.4%
12.4%
43.6%
43.6%
29.8%
29.8%
14.2%
14.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
45.7%
45.7%
8.4%
8.4%
18.4%
18.4%
23.9%
23.9%
3.5%
3.5%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.7%
1.7%
16.2%
16.2%
30.4%
30.4%
37.4%
37.4%
11.9%
11.9%
2.4%
2.4%
0.0% 100.0%
% OF HOMES