Manchester, Connecticut Housing Market Prices
Manchester 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 27% below the Connecticut median$206,150
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Median rent 3% below the Connecticut median$1,433
Housing Market Overview
| Metric | Manchester | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $206,150 | $281,244 | $248,835 |
| Price Trend (Annual %) | 7.7% | 3.6% | 7.5% |
| Median Gross Rent | $1,433 | $1,481 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Manchester is about 27% lower than in Connecticut. Rent is about 3% lower than the Connecticut 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 Manchester, up about 7.7% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Manchester rose about 36.3% between 2015 and 2024, from $1,051 to $1,433. Over the same span, rent in Connecticut rose about 36.7%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Manchester.
Buying the median-priced home in Manchester costs roughly 12.0 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 Manchester. The price-to-rent ratio in Connecticut is about 15.8.
| Metric | Manchester | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $206,150 | $281,244 | $248,835 |
| Median Household Income | $76,849 | $97,098 | $80,455 |
| Price-to-Income Ratio | 2.7 | 2.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Manchester rose about 110.1%, while median household income rose about 38.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Manchester | Connecticut Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.0% | 62.8% | 58.5% |
| Rental Rate | 41.7% | 30.3% | 31.2% |
| Vacancy Rate | 4.3% | 6.9% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Manchester has a homeownership rate of 54.0%, lower than the Connecticut average of 62.8%. Its housing vacancy rate is 4.3%, compared with 6.9% in Connecticut.
Housing Stock
| Metric | Manchester | Connecticut Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.47 people | 2.53 people |
| Median Structure Built Year | 1952 | 1966 | 1978 |
| Median Number of Rooms | 5.3 | 5.7 | 5.5 |
The typical housing unit in Manchester was built around 1952. On average, 2.3 people live in a home with about 5.3 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Manchester, Connecticut.
What is the median home price in Manchester, Connecticut?
The median home price in Manchester, Connecticut is $206,150, lower than the Connecticut average of $281,244.
What is the average home price in Manchester, Connecticut?
The typical home price in Manchester, Connecticut, reported as the median sale price, is $206,150. 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 Manchester, Connecticut?
The median gross rent in Manchester, Connecticut is $1,433 per month, lower than the Connecticut average of $1,481.
What was the median gross rent in Manchester in 2020?
In 2020, the median gross rent in Manchester, Connecticut was $1,126 per month.
What is the price-to-rent ratio in Manchester, Connecticut?
The price-to-rent ratio in Manchester, Connecticut is about 12.0, meaning it would take roughly 12.0 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 Manchester.
Are home prices or rent rising faster in Manchester, Connecticut?
Both home prices and rent are rising in Manchester, up about 7.7% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Manchester, Connecticut?
54.0% of households in Manchester, Connecticut own their home, lower than the Connecticut average of 62.8%.
What is the vacancy rate in Manchester, Connecticut?
The housing vacancy rate in Manchester, Connecticut is 4.3%, lower than the Connecticut average of 6.9%.
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