Wethersfield, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Wethersfield Neighborhoods Since 2000




Wethersfield, 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

Wethersfield Housing Market Information

With a population of 26,367, 10,775 total housing units (homes and apartments), and a median house value of $262,121, Wethersfield real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Wethersfield, accounting for 74.48% of the town's housing units. Other types of housing that are prevalent in Wethersfield include large apartment complexes or high rise apartments ( 12.12%), duplexes, homes converted to apartments or other small apartment buildings ( 8.89%), and a few row houses and other attached homes ( 4.51%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wethersfield. Owner-occupied housing accounts for 77.32% of Wethersfield's homes, and 62.26% 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. Wethersfield's housing was primarily built during this period, from the '40s through the '60s. A full 49.18% of the town's housing hails from this era. Other housing ages represented in Wethersfield include homes built between 1970-1999 ( 30.25%) and housing constructed before 1939 ( 18.39%). There's also some housing in Wethersfield built between 2000 and later ( 2.19%).

Wethersfield Home Appreciation Rates

Wethersfield's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wethersfield during the period has been just -1.48%, which is lower than 80% of US communities.

Over the last year, Wethersfield appreciation rates have trailed the rest of the nation. In the last twelve months, Wethersfield's appreciation rate has been 0.14%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wethersfield were at -1.07%, which equates to an annual appreciation rate of -4.22%.

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

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

Average Home Values

 

Median Home Value:
$262,121

Wethersfield, CT HOME PRICES

Value Range
> $1,001,000 0.3
$751,001 - $1,001,000 0.3
$500,001 - $751,000 2.9
$400,001 - $500,000 5.8
$300,001 - $400,000 21.2
$200,001 - $300,000 45.8
$100,001 - $200,000 19.5
$50,001 - $100,000 1.9
$0 - $50,000 2.4

Average for CT
High for Nation

Value Relative to Nation Value Relative to State
20.7547169811321 57.9881656804734

Number Of Homes And Apartments:
10,775

Wethersfield 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
29.62% 1.52% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,326 / per month

Homeownership Rate

Homeownership
Owners 77.32
Renters 22.68
Vacant 4.43

Housing Market Details

 

Age of Homes

AGE OF Wethersfield HOMES
2000 or Newer 2.2
1970 - 1999 30.2
1940 - 1969 49.2
1939 or Older 18.4

Types of Homes

TYPE OF Wethersfield HOMES
Single-Family 74.5
Townhomes 4.5
Small Apt. Buildings 8.9
Apt. Complexes 12.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Wethersfield HOMES
No Bedroom 0.85
1 Bedroom 11.34
2 Bedrooms 22.86
3 Bedrooms 43.62
4 Bedrooms 18.64
5 or more bedrooms 2.70