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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 122,105 people, 46,690 houses or apartments, and a median cost of homes of $177,100, 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 44.63% 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 ( 38.03%), single-family detached homes ( 13.98%), and a few row houses and other attached homes ( 3.33%). 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. 77.48% of Hartford's dwellings are rentals.

The housing in Hartford was primarily built before 1939 ( 40.09%), 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 ( 36.35%), followed by between 1970-1999 ( 19.17%). There's also some housing in Hartford built between 2000 and later ( 4.40%).

Vacant housing appears to be an issue in Hartford. Fully 14.73% 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 2.20% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Hartford home appreciation rates at 2.51%, which equates to an annual appreciation rate of 10.42%.

NeighborhoodScout's data show that during the latest twelve months, Hartford's appreciation rate, at 5.21%, has been at or slightly above the national average. In the latest quarter, Hartford's appreciation rate has been 2.51%, which annualizes to a rate of 10.42%.

Relative to Connecticut, our data show that Hartford's latest annual appreciation rate is lower than 50% 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

 
info

Median Home Value:
$177,100

Hartford, CT HOME PRICES

> $1,054,000
1.0%
1.0%
$791,001 - $1,054,000
0.4%
0.4%
$527,001 - $791,000
3.9%
3.9%
$422,001 - $527,000
2.1%
2.1%
$316,001 - $422,000
6.1%
6.1%
$211,001 - $316,000
18.9%
18.9%
$105,001 - $211,000
55.7%
55.7%
$53,001 - $105,000
9.1%
9.1%
$0 - $53,000
2.7%
2.7%
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:
46,690

Hartford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
45.46% 1.80%
5
2
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,351 / per month

Homeownership Rate

Owners
22.5%
22.5%
Renters
77.5%
77.5%
Vacant
14.7%
14.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
4.4%
4.4%
1970 - 1999
19.2%
19.2%
1940 - 1969
36.3%
36.3%
1939 or Older
40.1%
40.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
14.0%
14.0%
Townhomes
3.3%
3.3%
Small Apt. Buildings
38.0%
38.0%
Apt. Complexes
44.6%
44.6%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.3%
6.3%
1 Bedroom
25.1%
25.1%
2 Bedrooms
35.1%
35.1%
3 Bedrooms
26.2%
26.2%
4 Bedrooms
5.2%
5.2%
5 or more bedrooms
2.0%
2.0%
0.0% 100.0%
% OF HOMES