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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



New Haven, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

New Haven, CT Housing Market Trends

With a population of 138,915, 52,977 total housing units (homes and apartments), and a median house value of $324,589, New Haven real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, New Haven homes are still considered rather expensive.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in New Haven, accounting for 42.20% of the city's housing units. Other types of housing that are prevalent in New Haven include large apartment complexes or high rise apartments ( 32.64%), single-family detached homes ( 19.74%), and a few row houses and other attached homes ( 5.22%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

New Haven is dominated by renter-occupied one, two, or no bedrooms apartments. 73.49% of New Haven's dwellings are rentals.

The housing in New Haven was primarily built before 1939 ( 42.11%), making the housing stock in New Haven some of the oldest overall in America, although there is a range of ages of homes in New Haven. The next most important housing age is between 1940-1969 ( 29.97%), followed by between 1970-1999 ( 19.75%). There's also some housing in New Haven built between 2000 and later ( 8.18%).

Vacant housing appears to be an issue in New Haven. Fully 10.36% of the housing stock is classified as vacant. Left unchecked, vacant New Haven homes and apartments can be a drag on the real estate market, holding New Haven 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.

New Haven Home Appreciation Rates

Real estate appreciation rates in New Haven's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.59% during the period.

Appreciation rates are so strong in New Haven that despite a nationwide downturn in the housing market, New Haven real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Haven appreciation rates continue to be some of the highest in America, at 9.33%, which is higher than appreciation rates in 92.81% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Haven. New Haven appreciation rates in the latest quarter were at 1.18%, which equates to an annual appreciation rate of 4.80%.

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

Average Home Values

Median Home Value

$324,589

New Haven, CT Home Prices
> $1,407,000
$1,055,001 - $1,407,000
$703,001 - $1,055,000
$563,001 - $703,000
$422,001 - $563,000
$281,001 - $422,000
$141,001 - $281,000
$70,001 - $141,000
$0 - $70,000
2.5%
2.5%
2.8%
2.8%
6.8%
6.8%
4.7%
4.7%
12.5%
12.5%
34.3%
34.3%
27.9%
27.9%
4.6%
4.6%
4.0%
4.0%
0% 100.0%
% of Homes
Very Low

for Connecticut

High

for nation

Number of Homes And Apartments:

52,977

New Haven Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,248 / per month

Homeownership Rate

Owners
Renters
26.5%
26.5%
73.5%
73.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.4%
10.4%
89.6%
89.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.2%
8.2%
19.7%
19.7%
30.0%
30.0%
42.1%
42.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
19.7%
19.7%
5.2%
5.2%
42.2%
42.2%
32.6%
32.6%
0.2%
0.2%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
6.5%
6.5%
21.7%
21.7%
36.6%
36.6%
24.7%
24.7%
7.5%
7.5%
3.0%
3.0%
0% 100.0%
% of Homes