Torrington, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Torrington Neighborhoods Since 2000




Torrington, 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

Torrington Housing Market Information

With a population of 34,906, 15,023 total housing units (homes and apartments), and a median house value of $156,789, Torrington real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Torrington homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Torrington, accounting for 54.13% of the city's housing units. Other types of housing that are prevalent in Torrington include duplexes, homes converted to apartments or other small apartment buildings ( 27.14%), large apartment complexes or high rise apartments ( 12.95%), and a few row houses and other attached homes ( 5.43%).

The most prevalent building size and type in Torrington are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.69% owning and 35.31% renting.

There is a lot of housing in Torrington built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Torrington built between 1940-1969 ( 32.05%). A lesser amount of the housing stock also hails from before 1939 ( 29.01%). There's also some housing in Torrington built between 2000 and later ( 3.95%).

Vacant housing appears to be an issue in Torrington. Fully 12.63% of the housing stock is classified as vacant. Left unchecked, vacant Torrington homes and apartments can be a drag on the real estate market, holding Torrington 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.

Torrington Home Appreciation Rates

Homes have actually lost value in Torrington over the last then years, as home values have seen a decline of 31.08% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Torrington home appreciation rates at -3.59%, which equates to an annual appreciation rate of -13.62%.

Over the last year, Torrington appreciation rates have trailed the rest of the nation. In the last twelve months, Torrington's appreciation rate has been -2.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Torrington were at -3.59%, which equates to an annual appreciation rate of -13.62%.

Notably, Torrington's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$156,789

Torrington, CT HOME PRICES

Value Range
> $952,000 0.0
$714,001 - $952,000 0.1
$476,001 - $714,000 1.1
$381,001 - $476,000 1.2
$285,001 - $381,000 3.7
$190,001 - $285,000 22.4
$95,001 - $190,000 59.0
$48,001 - $95,000 9.1
$0 - $48,000 3.4

Very Low for CT
Average for Nation

Value Relative to Nation Value Relative to State
47.0819172623931 98.8165680473373

Number Of Homes And Apartments:
15,023

Torrington 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
9.03% 0.50% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,064 / per month

Homeownership Rate

Homeownership
Owners 64.69
Renters 35.31
Vacant 12.63

Housing Market Details

 

Age of Homes

AGE OF Torrington HOMES
2000 or Newer 4.0
1970 - 1999 35.0
1940 - 1969 32.1
1939 or Older 29.0

Types of Homes

TYPE OF Torrington HOMES
Single-Family 54.1
Townhomes 5.4
Small Apt. Buildings 27.1
Apt. Complexes 12.9
Mobile Homes 0.2
Other 0.2

Home Size

SIZE OF Torrington HOMES
No Bedroom 3.11
1 Bedroom 11.29
2 Bedrooms 33.96
3 Bedrooms 39.30
4 Bedrooms 10.61
5 or more bedrooms 1.73