Vernon, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Vernon Neighborhoods Since 2000




Vernon, 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

Vernon Housing Market Information

With a population of 28,959, 13,177 total housing units (homes and apartments), and a median house value of $179,442, Vernon real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Vernon homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Vernon, accounting for 45.40% of the town's housing units. Other types of housing that are prevalent in Vernon include large apartment complexes or high rise apartments ( 28.27%), duplexes, homes converted to apartments or other small apartment buildings ( 17.66%), and a few row houses and other attached homes ( 6.70%).

People in Vernon primarily live in small (one, two or no bedroom) single-family detached homes. Vernon has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Vernon's housing was primarily built during this period, from the '40s through the '60s. A full 39.83% of the town's housing hails from this era. Other housing ages represented in Vernon include homes built between 1970-1999 ( 35.71%) and housing constructed before 1939 ( 14.29%). There's also some housing in Vernon built between 2000 and later ( 10.17%).

Vernon Home Appreciation Rates

Homes have actually lost value in Vernon over the last then years, as home values have seen a decline of 23.21% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Vernon home appreciation rates at -1.07%, which equates to an annual appreciation rate of -4.22%.

Over the last year, Vernon appreciation rates have trailed the rest of the nation. In the last twelve months, Vernon's appreciation rate has been 0.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Vernon were at -1.07%, which equates to an annual appreciation rate of -4.22%.

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

Relative to Connecticut, our data show that Vernon's latest annual appreciation rate is higher than 50% 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 town. Individual neighborhoods within Vernon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Vernon - 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 Vernon real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$179,442

Vernon, CT HOME PRICES

Value Range
> $962,000 1.3
$722,001 - $962,000 0.2
$481,001 - $722,000 1.5
$385,001 - $481,000 1.2
$289,001 - $385,000 6.7
$193,001 - $289,000 36.9
$96,001 - $193,000 45.0
$48,001 - $96,000 3.7
$0 - $48,000 3.5

Very Low for CT
High for Nation

Value Relative to Nation Value Relative to State
38.3628266729169 92.3076923076923

Number Of Homes And Apartments:
13,177

Vernon 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
19.07% 1.02% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,135 / per month

Homeownership Rate

Homeownership
Owners 53.80
Renters 46.20
Vacant 6.70

Housing Market Details

 

Age of Homes

AGE OF Vernon HOMES
2000 or Newer 10.2
1970 - 1999 35.7
1940 - 1969 39.8
1939 or Older 14.3

Types of Homes

TYPE OF Vernon HOMES
Single-Family 45.4
Townhomes 6.7
Small Apt. Buildings 17.7
Apt. Complexes 28.3
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Vernon HOMES
No Bedroom 2.11
1 Bedroom 22.72
2 Bedrooms 30.12
3 Bedrooms 28.38
4 Bedrooms 13.75
5 or more bedrooms 2.92