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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 130,418 people, 49,987 houses or apartments, and a median cost of homes of $212,097, 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 41.90% of the city's housing units. Other types of housing that are prevalent in New Haven include large apartment complexes or high rise apartments ( 34.49%), single-family detached homes ( 19.23%), and a few row houses and other attached homes ( 4.26%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
New Haven is dominated by renter-occupied one, two, or no bedrooms apartments. 74.20% of New Haven's dwellings are rentals.
The housing in New Haven was primarily built before 1939 ( 49.72%), 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 ( 24.71%), followed by between 1970-1999 ( 18.36%). There's also some housing in New Haven built between 2000 and later ( 7.21%).
Vacant housing appears to be an issue in New Haven. Fully 11.41% 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's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Haven during the period has been just 0.97%, which is lower than 70% of US communities.
Over the last year, New Haven appreciation rates have trailed the rest of the nation. In the last twelve months, New Haven's appreciation rate has been 2.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Haven were at 1.88%, which equates to an annual appreciation rate of 7.74%.
Relative to Connecticut, our data show that New Haven's latest annual appreciation rate is higher than 80% 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.
|$865,001 - $1,154,000||2.0|
|$577,001 - $865,000||3.1|
|$462,001 - $577,000||4.3|
|$346,001 - $462,000||8.0|
|$230,001 - $346,000||24.2|
|$116,001 - $230,000||42.9|
|$58,001 - $116,000||11.3|
|$0 - $58,000||3.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
2000 Q1 - 2019 Q3
|* 10 is highest|
|AGE OF New Haven HOMES|
|2000 or Newer||7.2|
|1970 - 1999||18.4|
|1940 - 1969||24.7|
|1939 or Older||49.7|
|TYPE OF New Haven HOMES|
|Small Apt. Buildings||41.9|
|SIZE OF New Haven HOMES|
|5 or more bedrooms||2.78|