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 about Scout's Real Estate Data
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'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.
High for Nation
Very Low for CT