Lower Connecticut River Valley Planning Region, Connecticut Housing Market Prices
Lower Connecticut River Valley Planning Region 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 21% below the Connecticut median$222,692
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Median rent 7% below the Connecticut median$1,378
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lower Connecticut River Valley Planning Region | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $222,692 | $281,244 | $248,835 |
| Price Trend (Annual %) | -0.4% | 3.6% | 7.5% |
| Median Gross Rent | $1,378 | $1,481 | $1,407 |
| Rent Trend (Annual %) | 2.8% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lower Connecticut River Valley Planning Region is about 21% lower than in Connecticut. Rent is about 7% lower than the Connecticut average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Lower Connecticut River Valley Planning Region: home prices fell about 0.4% a year while rent rose about 2.8% a year. That is an unusual pattern worth watching.
Median rent in Lower Connecticut River Valley Planning Region rose about 25.5% between 2015 and 2024, from $1,098 to $1,378. Over the same span, rent in Connecticut rose about 36.7%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in Lower Connecticut River Valley Planning Region.
Buying the median-priced home in Lower Connecticut River Valley Planning Region costs roughly 13.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lower Connecticut River Valley Planning Region. The price-to-rent ratio in Connecticut is about 15.8.
| Metric | Lower Connecticut River Valley Planning Region | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $222,692 | $281,244 | $248,835 |
| Median Household Income | $107,450 | $97,098 | $80,455 |
| Price-to-Income Ratio | 2.1 | 2.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lower Connecticut River Valley Planning Region rose about 1.4%, while median household income rose about 33.1% 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 | Lower Connecticut River Valley Planning Region | Connecticut Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 69.5% | 62.8% | 58.5% |
| Rental Rate | 19.3% | 30.3% | 31.2% |
| Vacancy Rate | 11.2% | 6.9% | 10.2% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Lower Connecticut River Valley Planning Region has a homeownership rate of 69.5%, higher than the Connecticut average of 62.8%. Its housing vacancy rate is 11.2%, compared with 6.9% in Connecticut.
Housing Stock
| Metric | Lower Connecticut River Valley Planning Region | Connecticut Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.47 people | 2.53 people |
| Median Structure Built Year | 1970 | 1966 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Lower Connecticut River Valley Planning Region was built around 1970. On average, 2.3 people live in a home with about 6.0 rooms, staying for about 17.0 years on average.
Lower Connecticut River Valley Planning Region, CT Housing Compared With Nearby Counties
Lower Connecticut River Valley Planning Region, CT is the smallest of the 6 counties compared here, 163,295 residents against a local median of 516,000. The measure that sets Lower Connecticut River Valley Planning Region, CT apart most is homeownership: 78.2%, 19% above the local median of 65.8%. That is the better end of the local range on this measure.
The counties themselves spread 19.8% on homeownership, so Lower Connecticut River Valley Planning Region, CT sits at one end of an already wide local range rather than apart from it. Lower Connecticut River Valley Planning Region, CT has the 2nd highest homeownership of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lower Connecticut River Valley Planning Region, CT | 163,295 | $222,692 #6/6 | $1,378 #4/6 | 78.2% #2/6 |
| South Central Connecticut Planning Region, CT | 516,000 | $233,101 | $1,536 | 62.6% |
| Southeastern Connecticut Planning Region, CT | 252,265 | $291,357 | $1,362 | 64.7% |
| Capitol Planning Region, CT | 920,648 | $232,901 | $1,423 | 65.8% |
| Suffolk County, NY | 1,451,500 | $526,704 | $2,275 | 82.4% |
| Naugatuck Valley Planning Region, CT | 439,566 | $244,999 | $1,327 | 68.3% |
Frequently Asked Questions
Common questions about the housing market in Lower Connecticut River Valley Planning Region, Connecticut.
What is the median home price in Lower Connecticut River Valley Planning Region, Connecticut?
The median home price in Lower Connecticut River Valley Planning Region, Connecticut is $222,692, lower than the Connecticut average of $281,244.
What is the average home price in Lower Connecticut River Valley Planning Region, Connecticut?
The typical home price in Lower Connecticut River Valley Planning Region, Connecticut, reported as the median sale price, is $222,692. 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 Lower Connecticut River Valley Planning Region, Connecticut?
The median gross rent in Lower Connecticut River Valley Planning Region, Connecticut is $1,378 per month, lower than the Connecticut average of $1,481.
What was the median gross rent in Lower Connecticut River Valley Planning Region in 2020?
In 2020, the median gross rent in Lower Connecticut River Valley Planning Region, Connecticut was $1,164 per month.
What is the price-to-rent ratio in Lower Connecticut River Valley Planning Region, Connecticut?
The price-to-rent ratio in Lower Connecticut River Valley Planning Region, Connecticut is about 13.5, meaning it would take roughly 13.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lower Connecticut River Valley Planning Region.
Are home prices or rent rising faster in Lower Connecticut River Valley Planning Region, Connecticut?
Home prices and rent are moving in opposite directions in Lower Connecticut River Valley Planning Region: home prices fell about 0.4% a year while rent rose about 2.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Lower Connecticut River Valley Planning Region, Connecticut?
69.5% of households in Lower Connecticut River Valley Planning Region, Connecticut own their home, higher than the Connecticut average of 62.8%.
What is the vacancy rate in Lower Connecticut River Valley Planning Region, Connecticut?
The housing vacancy rate in Lower Connecticut River Valley Planning Region, Connecticut is 11.2%, higher than the Connecticut average of 6.9%.
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