Groton, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Groton, 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 Q2 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

Groton Housing Market Information

With 29,958 people, 16,260 houses or apartments, and a median cost of homes of $241,896, 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 46.30% of the town's housing units. Other types of housing that are prevalent in Groton include large apartment complexes or high rise apartments ( 25.65%), duplexes, homes converted to apartments or other small apartment buildings ( 16.96%), and a few row houses and other attached homes ( 8.41%).

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 ( 28.76%). A lesser amount of the housing stock also hails from before 1939 ( 16.14%). There's also some housing in Groton built between 2000 and later ( 14.17%).

Vacant housing appears to be an issue in Groton. Fully 12.14% 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

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 -1.65%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Groton's appreciation rate, at 6.22%, has been at or slightly above the national average. In the latest quarter, Groton's appreciation rate has been 5.07%, which annualizes to a rate of 21.90%.

Importantly, NeighborhoodScout’s exclusive research found that Groton's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Connecticut, our data show that Groton'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 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:
$241,896

Groton, CT HOME PRICES

Value Range
> $1,074,000 1.1
$805,001 - $1,074,000 2.1
$537,001 - $805,000 5.0
$429,001 - $537,000 6.6
$322,001 - $429,000 11.1
$215,001 - $322,000 32.9
$107,001 - $215,000 30.9
$54,001 - $107,000 7.3
$0 - $54,000 2.9

Low for CT
High for Nation

Value Relative to Nation Value Relative to State
24.8609403360853 73.9644970414201

Number Of Homes And Apartments:
16,260

Groton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
42.18% 2.03% 9 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,448 / per month

Homeownership Rate

Homeownership
Owners 44.32
Renters 55.68
Vacant 12.14

Housing Market Details

 

Age of Homes

AGE OF Groton HOMES
2000 or Newer 14.2
1970 - 1999 40.9
1940 - 1969 28.8
1939 or Older 16.1

Types of Homes

TYPE OF Groton HOMES
Single-Family 46.3
Townhomes 8.4
Small Apt. Buildings 17.0
Apt. Complexes 25.6
Mobile Homes 2.7
Other 0.0

Home Size

SIZE OF Groton HOMES
No Bedroom 2.29
1 Bedroom 14.57
2 Bedrooms 34.32
3 Bedrooms 32.51
4 Bedrooms 14.15
5 or more bedrooms 2.17