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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (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 a population of 35,967, 16,043 total housing units (homes and apartments), and a median house value of $315,822, Groton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Groton, accounting for 47.54% of the town's housing units. Other types of housing that are prevalent in Groton include large apartment complexes or high rise apartments ( 24.21%), duplexes, homes converted to apartments or other small apartment buildings ( 16.11%), and a few row houses and other attached homes ( 9.03%).

People in Groton primarily live in small (one, two or no bedroom) single-family detached homes. Groton has a mixture of owner-occupied and renter-occupied housing.

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 ( 28.65%). A lesser amount of the housing stock also hails from before 1939 ( 14.32%). There's also some housing in Groton built between 2000 and later ( 13.85%).

Vacant housing appears to be an issue in Groton. Fully 10.34% of the housing stock is classified as vacant. Left unchecked, vacant Groton homes and apartments can be a drag on the real estate market, holding Groton 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.

Groton Home Appreciation Rates

Real estate appreciation rates in Groton's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.39% during the period.

Appreciation rates are so strong in Groton that despite a nationwide downturn in the housing market, Groton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Groton appreciation rates continue to be some of the highest in America, at 9.35%, which is higher than appreciation rates in 93.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Groton. Groton appreciation rates in the latest quarter were at 0.85%, which equates to an annual appreciation rate of 3.45%.

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 higher than 60% 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

$315,822

Groton, CT Home Prices
> $1,417,000
$1,062,001 - $1,417,000
$708,001 - $1,062,000
$567,001 - $708,000
$425,001 - $567,000
$283,001 - $425,000
$141,001 - $283,000
$71,001 - $141,000
$0 - $71,000
1.5%
1.5%
2.2%
2.2%
5.6%
5.6%
5.1%
5.1%
13.7%
13.7%
25.8%
25.8%
33.6%
33.6%
4.4%
4.4%
8.2%
8.2%
0% 100.0%
% of Homes
Low

for Connecticut

High

for nation

Number of Homes And Apartments:

16,043

Groton Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,842 / per month

Homeownership Rate

Owners
Renters
Vacant
47.2%
47.2%
52.8%
52.8%
10.3%
10.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.8%
13.8%
43.2%
43.2%
28.7%
28.7%
14.3%
14.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
47.5%
47.5%
9.0%
9.0%
16.1%
16.1%
24.2%
24.2%
3.1%
3.1%
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
1.2%
1.2%
16.9%
16.9%
31.7%
31.7%
33.9%
33.9%
12.9%
12.9%
3.4%
3.4%
0% 100.0%
% of Homes