Hartford, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hartford Neighborhoods Since 2000




Hartford, 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

Hartford Housing Market Information

With 124,006 people, 45,239 houses or apartments, and a median cost of homes of $159,509, 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 44.37% 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 ( 36.39%), single-family detached homes ( 14.90%), and a few row houses and other attached homes ( 4.31%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Hartford is dominated by renter-occupied one, two, or no bedrooms apartments. 77.78% of Hartford's dwellings are rentals.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Hartford's housing was primarily built during this period, from the '40s through the '60s. A full 41.94% of the city's housing hails from this era. Other housing ages represented in Hartford include homes built before 1939 ( 34.66%) and housing constructed between 1970-1999 ( 19.38%). There's also some housing in Hartford built between 2000 and later ( 4.02%).

Vacant housing appears to be an issue in Hartford. Fully 14.22% 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

Homes have actually lost value in Hartford over the last then years, as home values have seen a decline of 21.13% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Hartford home appreciation rates at 1.36%, which equates to an annual appreciation rate of 5.57%.

Over the last year, Hartford appreciation rates have trailed the rest of the nation. In the last twelve months, Hartford's appreciation rate has been -3.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hartford were at 1.36%, which equates to an annual appreciation rate of 5.57%.

Relative to Connecticut, our data show that Hartford's latest annual appreciation rate is lower 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 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:
$159,509

Hartford, CT HOME PRICES

Value Range
> $1,007,000 0.7
$755,001 - $1,007,000 0.5
$504,001 - $755,000 3.5
$403,001 - $504,000 2.2
$302,001 - $403,000 5.9
$201,001 - $302,000 19.6
$101,001 - $201,000 48.4
$50,001 - $101,000 13.7
$0 - $50,000 5.5

Very Low for CT
Average for Nation

Value Relative to Nation Value Relative to State
47.4149540371216 98.8165680473373

Number Of Homes And Apartments:
45,239

Hartford 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
31.61% 1.58% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,094 / per month

Homeownership Rate

Homeownership
Owners 22.22
Renters 77.78
Vacant 14.22

Housing Market Details

 

Age of Homes

AGE OF Hartford HOMES
2000 or Newer 4.0
1970 - 1999 19.4
1940 - 1969 41.9
1939 or Older 34.7

Types of Homes

TYPE OF Hartford HOMES
Single-Family 14.9
Townhomes 4.3
Small Apt. Buildings 36.4
Apt. Complexes 44.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Hartford HOMES
No Bedroom 6.55
1 Bedroom 23.70
2 Bedrooms 34.73
3 Bedrooms 26.59
4 Bedrooms 6.15
5 or more bedrooms 2.28