Hartford CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hartford Housing Market Information

With 122,587 people, 45,879 houses or apartments, and a median cost of homes of $167,093, 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 44.10% 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 ( 37.00%), single-family detached homes ( 14.80%), and a few row houses and other attached homes ( 4.10%). 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. 77.63% of Hartford's dwellings are rentals.

The housing in Hartford was primarily built before 1939 ( 41.88%), 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 ( 34.68%), followed by between 1970-1999 ( 18.88%). There's also some housing in Hartford built between 2000 and later ( 4.56%).

Vacant housing appears to be an issue in Hartford. Fully 14.82% 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 4.33% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Hartford home appreciation rates at 0.24%, which equates to an annual appreciation rate of 0.95%.

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 -1.40%, 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 0.24%, which equates to an annual appreciation rate of 0.95%.

Notably, Hartford's appreciation rate in the latest quarter is one of the lowest in America.

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:
$167,093

Hartford, CT HOME PRICES

Value Range
> $1,005,000 1.0
$754,001 - $1,005,000 0.3
$503,001 - $754,000 4.7
$402,001 - $503,000 2.7
$302,001 - $402,000 4.7
$201,001 - $302,000 17.9
$101,001 - $201,000 56.4
$50,001 - $101,000 8.9
$0 - $50,000 3.4

Very Low for CT
Average for Nation

Value Relative to Nation Value Relative to State
53.5328467153285 99.4082840236686

Number Of Homes And Apartments:
45,879

Hartford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
38.96% 1.62%
5
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,203 / per month

Homeownership Rate

Homeownership
Owners 22.37
Renters 77.63
Vacant 14.82

Housing Market Details

 

Age of Homes

AGE OF Hartford HOMES
2000 or Newer 4.6
1970 - 1999 18.9
1940 - 1969 34.7
1939 or Older 41.9

Types of Homes

TYPE OF Hartford HOMES
Single-Family 14.8
Townhomes 4.1
Small Apt. Buildings 37.0
Apt. Complexes 44.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Hartford HOMES
No Bedroom 6.00
1 Bedroom 24.87
2 Bedrooms 34.20
3 Bedrooms 26.93
4 Bedrooms 6.08
5 or more bedrooms 1.92