Putnam, 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

Putnam, CT Housing Market Trends

With 9,224 people, 3,967 houses or apartments, and a median cost of homes of $267,937, Putnam real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Putnam homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Putnam, accounting for 48.09% of the town's housing units. Other types of housing that are prevalent in Putnam include duplexes, homes converted to apartments or other small apartment buildings ( 37.83%), large apartment complexes or high rise apartments ( 10.17%), and a few row houses and other attached homes ( 3.10%).

The most prevalent building size and type in Putnam are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 57.03% owning and 42.97% renting.

The housing in Putnam was primarily built before 1939 ( 40.09%), making the housing stock in Putnam some of the oldest overall in America, although there is a range of ages of homes in Putnam. The next most important housing age is between 1970-1999 ( 32.03%), followed by between 1940-1969 ( 21.09%). There's also some housing in Putnam built between 2000 and later ( 6.80%).

Vacant housing appears to be an issue in Putnam. Fully 10.15% of the housing stock is classified as vacant. Left unchecked, vacant Putnam homes and apartments can be a drag on the real estate market, holding Putnam 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.

Putnam Home Appreciation Rates

Real estate appreciation rates in Putnam's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 4.70% during the period.

Appreciation rates are so strong in Putnam that despite a nationwide downturn in the housing market, Putnam real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Putnam appreciation rates continue to be some of the highest in America, at 21.48%, which is higher than appreciation rates in 78.04% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Putnam. Putnam appreciation rates in the latest quarter were at 7.35%, which equates to an annual appreciation rate of 32.80%.

Relative to Connecticut, our data show that Putnam's latest annual appreciation rate is higher than 50% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$267,937

Putnam, CT HOME PRICES

> $1,401,000
1.1%
1.1%
$1,051,001 - $1,401,000
0.1%
0.1%
$701,001 - $1,051,000
1.4%
1.4%
$561,001 - $701,000
3.1%
3.1%
$420,001 - $561,000
6.3%
6.3%
$280,001 - $420,000
30.1%
30.1%
$140,001 - $280,000
50.1%
50.1%
$70,001 - $140,000
4.5%
4.5%
$0 - $70,000
3.2%
3.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very Low for CT

Value Relative To Nation

Number Of Homes And Apartments:
3,967

Putnam 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
100.09% 3.20%
9
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,728 / per month

Homeownership Rate

Owners
57.0%
57.0%
Renters
43.0%
43.0%
Vacant
10.1%
10.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
6.8%
6.8%
1970 - 1999
32.0%
32.0%
1940 - 1969
21.1%
21.1%
1939 or Older
40.1%
40.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
48.1%
48.1%
Townhomes
3.1%
3.1%
Small Apt. Buildings
37.8%
37.8%
Apt. Complexes
10.2%
10.2%
Mobile Homes
0.8%
0.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
16.7%
16.7%
2 Bedrooms
25.6%
25.6%
3 Bedrooms
40.6%
40.6%
4 Bedrooms
14.8%
14.8%
5 or more bedrooms
2.2%
2.2%
0.0% 100.0%
% OF HOMES