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 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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Torrington HOMES|
|2000 or Newer||4.0|
|1970 - 1999||35.0|
|1940 - 1969||32.1|
|1939 or Older||29.0|
|TYPE OF Torrington HOMES|
|Small Apt. Buildings||27.1|
|SIZE OF Torrington HOMES|
|5 or more bedrooms||1.73|