New Haven, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Haven Neighborhoods Since 2000




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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

New Haven Housing Market Information

With 130,322 people, 49,771 houses or apartments, and a median cost of homes of $187,385, 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 41.80% of the city's housing units. Other types of housing that are prevalent in New Haven include large apartment complexes or high rise apartments ( 33.63%), single-family detached homes ( 19.66%), and a few row houses and other attached homes ( 4.81%). 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. 73.27% of New Haven's dwellings are rentals.

The housing in New Haven was primarily built before 1939 ( 51.02%), 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 ( 23.74%), followed by between 1970-1999 ( 19.06%). There's also some housing in New Haven built between 2000 and later ( 6.17%).

Vacant housing appears to be an issue in New Haven. Fully 12.18% 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 -1.58%, which is lower than 80% 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 1.46%, 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 -0.47%, which equates to an annual appreciation rate of -1.86%.

Relative to Connecticut, our data show that New Haven's latest annual appreciation rate is higher than 70% 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:
$187,385

New Haven, CT HOME PRICES

Value Range
> $1,056,000 0.7
$792,001 - $1,056,000 1.5
$528,001 - $792,000 2.7
$423,001 - $528,000 3.0
$317,001 - $423,000 7.7
$211,001 - $317,000 26.5
$106,001 - $211,000 43.4
$53,001 - $106,000 10.6
$0 - $53,000 4.0

Very Low for CT
High for Nation

Value Relative to Nation Value Relative to State
35.602953240361 88.7573964497041

Number Of Homes And Apartments:
49,771

New Haven Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
62.79% 2.87% 10 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,403 / per month

Homeownership Rate

Homeownership
Owners 26.73
Renters 73.27
Vacant 12.18

Housing Market Details

 

Age of Homes

AGE OF New Haven HOMES
2000 or Newer 6.2
1970 - 1999 19.1
1940 - 1969 23.7
1939 or Older 51.0

Types of Homes

TYPE OF New Haven HOMES
Single-Family 19.7
Townhomes 4.8
Small Apt. Buildings 41.8
Apt. Complexes 33.6
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF New Haven HOMES
No Bedroom 5.63
1 Bedroom 22.74
2 Bedrooms 38.07
3 Bedrooms 23.85
4 Bedrooms 6.89
5 or more bedrooms 2.82