Westport, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Westport Neighborhoods Since 2000




Westport, 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

Westport Housing Market Information

With 27,899 people, 9,740 houses or apartments, and a median cost of homes of $1,181,219, Westport house prices are not only among the most expensive in Connecticut, Westport real estate also is some of the most expensive in all of America.

Westport is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Westport than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Westport. Owner-occupied housing accounts for 84.83% of Westport's homes, and 59.97% have either three or four bedrooms, which is average sized relative to America.

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. Westport's housing was primarily built during this period, from the '40s through the '60s. A full 43.23% of the town's housing hails from this era. Other housing ages represented in Westport include homes built between 1970-1999 ( 25.97%) and housing constructed before 1939 ( 18.61%). There's also some housing in Westport built between 2000 and later ( 12.19%).

Westport Home Appreciation Rates

Appreciation rates for homes in Westport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.63%, which ranks in the top 50% nationwide. This equates to an annual average Westport house appreciation rate of 0.16%.

Over the last year, Westport appreciation rates have trailed the rest of the nation. In the last twelve months, Westport's appreciation rate has been 1.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Westport were at -1.81%, which equates to an annual appreciation rate of -7.04%.

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

Relative to Connecticut, our data show that Westport'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 town. Individual neighborhoods within Westport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Westport - 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 Westport real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,181,219

Westport, CT HOME PRICES

Value Range
> $1,087,000 52.4
$815,001 - $1,087,000 20.1
$543,001 - $815,000 15.6
$435,001 - $543,000 4.1
$326,001 - $435,000 1.8
$217,001 - $326,000 2.5
$108,001 - $217,000 1.9
$54,001 - $108,000 0.4
$0 - $54,000 1.1

Very High for CT
Very High for Nation

Value Relative to Nation Value Relative to State
0.720731278565569 2.36686390532544

Number Of Homes And Apartments:
9,740

Westport 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
57.66% 2.67% 10 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,537 / per month

Homeownership Rate

Homeownership
Owners 84.83
Renters 15.17
Vacant 8.21

Housing Market Details

 

Age of Homes

AGE OF Westport HOMES
2000 or Newer 12.2
1970 - 1999 26.0
1940 - 1969 43.2
1939 or Older 18.6

Types of Homes

TYPE OF Westport HOMES
Single-Family 86.5
Townhomes 4.4
Small Apt. Buildings 5.4
Apt. Complexes 3.0
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Westport HOMES
No Bedroom 0.95
1 Bedroom 4.50
2 Bedrooms 12.77
3 Bedrooms 25.54
4 Bedrooms 34.43
5 or more bedrooms 21.82