Manchester, 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

Manchester, CT Housing Market Trends

With a population of 59,713, 23,938 total housing units (homes and apartments), and a median house value of $219,511, Manchester real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Manchester homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Manchester, accounting for 46.94% of the town's housing units. Other types of housing that are prevalent in Manchester include large apartment complexes or high rise apartments ( 28.83%), duplexes, homes converted to apartments or other small apartment buildings ( 16.01%), and a few row houses and other attached homes ( 8.18%).

People in Manchester primarily live in small (one, two or no bedroom) single-family detached homes. Manchester has a mixture of owner-occupied and renter-occupied housing.

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. Manchester's housing was primarily built during this period, from the '40s through the '60s. A full 39.54% of the town's housing hails from this era. Other housing ages represented in Manchester include homes built between 1970-1999 ( 32.43%) and housing constructed before 1939 ( 18.87%). There's also some housing in Manchester built between 2000 and later ( 9.16%).

Manchester Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Manchester, where house values have increased just 27.57%, which is annualized rate of 2.47%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Manchester's appreciation rate, at 18.67%, has been at or slightly above the national average. In the latest quarter, Manchester's appreciation rate has been 7.23%, which annualizes to a rate of 32.21%.

Relative to Connecticut, our data show that Manchester'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 town. Individual neighborhoods within Manchester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Manchester - 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 Manchester real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$219,511

Manchester, CT HOME PRICES

> $1,292,000
0.1%
0.1%
$969,001 - $1,292,000
0.2%
0.2%
$645,001 - $969,000
0.8%
0.8%
$517,001 - $645,000
1.4%
1.4%
$387,001 - $517,000
8.3%
8.3%
$258,001 - $387,000
24.8%
24.8%
$129,001 - $258,000
59.2%
59.2%
$65,001 - $129,000
3.3%
3.3%
$0 - $65,000
1.9%
1.9%
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:
23,938

Manchester 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
65.97% 2.33%
2
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,637 / per month

Homeownership Rate

Owners
52.5%
52.5%
Renters
47.5%
47.5%
Vacant
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
9.2%
9.2%
1970 - 1999
32.4%
32.4%
1940 - 1969
39.5%
39.5%
1939 or Older
18.9%
18.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
46.9%
46.9%
Townhomes
8.2%
8.2%
Small Apt. Buildings
16.0%
16.0%
Apt. Complexes
28.8%
28.8%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.0%
1.0%
1 Bedroom
15.3%
15.3%
2 Bedrooms
34.2%
34.2%
3 Bedrooms
37.3%
37.3%
4 Bedrooms
10.2%
10.2%
5 or more bedrooms
1.9%
1.9%
0.0% 100.0%
% OF HOMES