New Britain, Connecticut Housing Market Prices
New Britain 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 9% below the Connecticut median$255,903
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Median rent 16% below the Connecticut median$1,245
Housing Market Overview
| Metric | New Britain | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $255,903 | $281,244 | $248,835 |
| Price Trend (Annual %) | 4.4% | 3.6% | 7.5% |
| Median Gross Rent | $1,245 | $1,481 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in New Britain is about 9% lower than in Connecticut. Rent is about 16% 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 New Britain, up about 4.4% and 3.6% a year respectively. Home prices are changing faster.
Median rent in New Britain rose about 36.7% between 2015 and 2024, from $911 to $1,245. Over the same span, rent in Connecticut rose about 36.7%.
Affordability
On average, housing unit costs 4.5 yearly household incomes in New Britain.
Buying the median-priced home in New Britain costs roughly 17.1 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 New Britain. The price-to-rent ratio in Connecticut is about 15.8.
| Metric | New Britain | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $255,903 | $281,244 | $248,835 |
| Median Household Income | $56,563 | $97,098 | $80,455 |
| Price-to-Income Ratio | 4.5 | 2.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in New Britain rose about 46.0%, while median household income rose about 29.7% 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 | New Britain | Connecticut Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 36.7% | 62.8% | 58.5% |
| Rental Rate | 53.2% | 30.3% | 31.2% |
| Vacancy Rate | 10.1% | 6.9% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
New Britain has a homeownership rate of 36.7%, lower than the Connecticut average of 62.8%. Its housing vacancy rate is 10.1%, compared with 6.9% in Connecticut.
Housing Stock
| Metric | New Britain | Connecticut Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.47 people | 2.53 people |
| Median Structure Built Year | 1953 | 1966 | 1978 |
| Median Number of Rooms | 4.7 | 5.7 | 5.5 |
The typical housing unit in New Britain was built around 1953. On average, 2.4 people live in a home with about 4.7 rooms, staying for about 13.0 years on average.
New Britain, CT Housing Compared With Nearby Cities
How New Britain, CT compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| New Britain, CT | 55,019 | $255,903 #2/3 | $1,245 #3/3 | 40.8% #2/3 |
| West Hartford, CT | 59,547 | $326,256 | $1,786 | 67.2% |
| Hartford, CT | 116,992 | $187,019 | $1,260 | 26.5% |
Frequently Asked Questions
Common questions about the housing market in New Britain, Connecticut.
What is the median home price in New Britain, Connecticut?
The median home price in New Britain, Connecticut is $255,903, lower than the Connecticut average of $281,244.
What is the average home price in New Britain, Connecticut?
The typical home price in New Britain, Connecticut, reported as the median sale price, is $255,903. 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 New Britain, Connecticut?
The median gross rent in New Britain, Connecticut is $1,245 per month, lower than the Connecticut average of $1,481.
What was the median gross rent in New Britain in 2020?
In 2020, the median gross rent in New Britain, Connecticut was $1,050 per month.
What is the price-to-rent ratio in New Britain, Connecticut?
The price-to-rent ratio in New Britain, Connecticut is about 17.1, meaning it would take roughly 17.1 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 New Britain.
Are home prices or rent rising faster in New Britain, Connecticut?
Both home prices and rent are rising in New Britain, up about 4.4% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in New Britain, Connecticut?
36.7% of households in New Britain, Connecticut own their home, lower than the Connecticut average of 62.8%.
What is the vacancy rate in New Britain, Connecticut?
The housing vacancy rate in New Britain, Connecticut is 10.1%, higher than the Connecticut average of 6.9%.
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