New Haven, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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New Haven, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

New Haven Housing Market Information

With 131,014 people, 49,987 houses or apartments, and a median cost of homes of $209,515, 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 Home Appreciation Rates

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 0.45%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, New Haven's appreciation rate, at 4.01%, has been at or slightly above the national average. In the latest quarter, New Haven's appreciation rate has been 0.65%, which annualizes to a rate of 2.62%.

Relative to Connecticut, our data show that New Haven's latest annual appreciation rate is higher 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 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:
$209,515

New Haven, CT HOME PRICES

Value Range
> $1,142,000 0.5
$857,001 - $1,142,000 2.0
$571,001 - $857,000 3.1
$457,001 - $571,000 4.3
$343,001 - $457,000 8.0
$228,001 - $343,000 24.2
$114,001 - $228,000 42.9
$57,001 - $114,000 11.3
$0 - $57,000 3.8

Very Low for CT
High for Nation

Value Relative to Nation Value Relative to State
35.5620437956204 84.0236686390533

Number Of Homes And Apartments:
49,987

New Haven Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
74.84% 2.91%
10
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,548 / per month

Homeownership Rate

Homeownership
Owners 25.80
Renters 74.20
Vacant 11.41

Housing Market Details

 

Age of Homes

AGE OF New Haven HOMES
2000 or Newer 7.2
1970 - 1999 18.4
1940 - 1969 24.7
1939 or Older 49.7

Types of Homes

TYPE OF New Haven HOMES
Single-Family 19.2
Townhomes 4.3
Small Apt. Buildings 41.9
Apt. Complexes 34.5
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF New Haven HOMES
No Bedroom 5.89
1 Bedroom 22.42
2 Bedrooms 37.98
3 Bedrooms 23.92
4 Bedrooms 7.01
5 or more bedrooms 2.78