Hartford, 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 Q4 2021. 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

Hartford, CT Housing Market Trends

With a population of 121,054, 47,722 total housing units (homes and apartments), and a median house value of $238,185, Hartford real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Hartford homes are still considered rather expensive.

Large apartment complexes or high rise apartments are the single most common housing type in Hartford, accounting for 44.41% of the city's housing units. Other types of housing that are prevalent in Hartford include duplexes, homes converted to apartments or other small apartment buildings ( 36.31%), single-family detached homes ( 15.24%), and a few row houses and other attached homes ( 4.01%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

Hartford is dominated by renter-occupied one, two, or no bedrooms apartments. 76.64% of Hartford's dwellings are rentals.

The housing in Hartford was primarily built before 1939 ( 40.79%), making the housing stock in Hartford some of the oldest overall in America, although there is a range of ages of homes in Hartford. The next most important housing age is between 1940-1969 ( 35.43%), followed by between 1970-1999 ( 19.86%). There's also some housing in Hartford built between 2000 and later ( 3.92%).

Vacant housing appears to be an issue in Hartford. Fully 13.55% of the housing stock is classified as vacant. Left unchecked, vacant Hartford homes and apartments can be a drag on the real estate market, holding Hartford 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.

Hartford Home Appreciation Rates

Hartford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hartford during the period has been just 3.00%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Hartford's appreciation rate, at 19.12%, has been at or slightly above the national average. In the latest quarter, Hartford's appreciation rate has been 7.64%, which annualizes to a rate of 34.23%.

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

Average Home Values

 

Median Home Value:
$238,185

Hartford, CT HOME PRICES

> $1,361,000
1.2%
1.2%
$1,021,001 - $1,361,000
0.5%
0.5%
$681,001 - $1,021,000
2.2%
2.2%
$544,001 - $681,000
2.9%
2.9%
$408,001 - $544,000
6.8%
6.8%
$272,001 - $408,000
22.6%
22.6%
$136,001 - $272,000
53.1%
53.1%
$68,001 - $136,000
8.6%
8.6%
$0 - $68,000
2.1%
2.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very Low for CT

Value Relative To Nation

Number Of Homes And Apartments:
47,722

Hartford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
91.37% 2.99%
8
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,376 / per month

Homeownership Rate

Owners
23.4%
23.4%
Renters
76.6%
76.6%
Vacant
13.6%
13.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
3.9%
3.9%
1970 - 1999
19.9%
19.9%
1940 - 1969
35.4%
35.4%
1939 or Older
40.8%
40.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
15.2%
15.2%
Townhomes
4.0%
4.0%
Small Apt. Buildings
36.3%
36.3%
Apt. Complexes
44.4%
44.4%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.4%
6.4%
1 Bedroom
26.7%
26.7%
2 Bedrooms
33.4%
33.4%
3 Bedrooms
26.4%
26.4%
4 Bedrooms
5.0%
5.0%
5 or more bedrooms
2.1%
2.1%
0.0% 100.0%
% OF HOMES