Connecticut Housing Market Prices
Connecticut Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 13% above the US median$281,244
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Median rent 5% above the US median$1,481
Median Home Price Map: Counties in Connecticut
Housing Market Overview
| Metric | Connecticut | US Average |
|---|---|---|
| Median Home Price | $281,244 | $248,835 |
| Price Trend (Annual %) | 3.6% | 7.5% |
| Median Gross Rent | $1,481 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Connecticut is about 13% higher than in US. Rent is about 5% higher than the US average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Connecticut, up about 3.6% and 3.8% a year respectively. Rent is changing faster.
Median rent in Connecticut rose about 36.7% between 2015 and 2024, from $1,084 to $1,481. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Connecticut.
Buying the median-priced home in Connecticut costs roughly 15.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Connecticut. The price-to-rent ratio in US is about 14.7.
| Metric | Connecticut | US Average |
|---|---|---|
| Median Home Price | $281,244 | $248,835 |
| Median Household Income | $97,098 | $80,455 |
| Price-to-Income Ratio | 2.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Connecticut rose about 33.6%, while median household income rose about 38.6% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Connecticut | US Average |
|---|---|---|
| Homeownership Rate | 62.8% | 58.5% |
| Rental Rate | 30.3% | 31.2% |
| Vacancy Rate | 6.9% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 |
Connecticut has a homeownership rate of 62.8%, higher than the US average of 58.5%. Its housing vacancy rate is 6.9%, compared with 10.2% in US.
Housing Stock
| Metric | Connecticut | US Average |
|---|---|---|
| Average Household Size | 2.47 people | 2.53 people |
| Median Structure Built Year | 1966 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 |
The typical housing unit in Connecticut was built around 1966. On average, 2.5 people live in a home with about 5.7 rooms, staying for about 16.0 years on average.
Connecticut Housing Compared With Nearby States
Connecticut is the 3rd largest of the 6 states compared here, 3,347,044 residents against a local median of 1,394,471. Connecticut's median home price, at $281,244, runs 20% below the $352,792 typical of the states around it.
The states themselves spread $286,732 on median home price, so Connecticut sits at one end of an already wide local range rather than apart from it. Connecticut has the 5th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Connecticut | 3,347,044 | $281,244 #5/6 | $1,481 #4/6 | 67.4% #3/6 |
| Rhode Island | 1,100,398 | $360,248 | $1,341 | 63.6% |
| Massachusetts | 7,031,620 | $494,523 | $1,761 | 62.5% |
| New Hampshire | 1,394,471 | $300,691 | $1,490 | 72.8% |
| New Jersey | 9,334,304 | $352,792 | $1,719 | 63.8% |
| Vermont | 646,793 | $207,791 | $1,234 | 73.2% |
Frequently Asked Questions
Common questions about the housing market in Connecticut.
What is the median home price in Connecticut?
The median home price in Connecticut is $281,244, higher than the US average of $248,835.
What is the average home price in Connecticut?
The typical home price in Connecticut, reported as the median sale price, is $281,244. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Connecticut?
The median gross rent in Connecticut is $1,481 per month, higher than the US average of $1,407.
What was the median gross rent in Connecticut in 2020?
In 2020, the median gross rent in Connecticut was $1,204 per month.
What is the price-to-rent ratio in Connecticut?
The price-to-rent ratio in Connecticut is about 15.8, meaning it would take roughly 15.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Connecticut.
Are home prices or rent rising faster in Connecticut?
Both home prices and rent are rising in Connecticut, up about 3.6% and 3.8% a year respectively. Rent is changing faster.
What is the homeownership rate in Connecticut?
62.8% of households in Connecticut own their home, higher than the US average of 58.5%.
What is the vacancy rate in Connecticut?
The housing vacancy rate in Connecticut is 6.9%, lower than the US average of 10.2%.
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