New Haven, Connecticut Housing Market Prices
New Haven 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 31% below the Connecticut median$193,540
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Median rent About the same as the Connecticut median$1,480
Housing Market Overview
| Metric | New Haven | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $193,540 | $281,244 | $248,835 |
| Price Trend (Annual %) | 8.3% | 3.6% | 7.5% |
| Median Gross Rent | $1,480 | $1,481 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in New Haven is about 31% lower than in Connecticut. Rent follows a similar pattern, running close to 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 Haven, up about 8.3% and 3.6% a year respectively. Home prices are changing faster.
Median rent in New Haven rose about 35.4% between 2015 and 2024, from $1,093 to $1,480. Over the same span, rent in Connecticut rose about 36.7%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in New Haven.
Buying the median-priced home in New Haven costs roughly 10.9 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 New Haven. The price-to-rent ratio in Connecticut is about 15.8.
| Metric | New Haven | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $193,540 | $281,244 | $248,835 |
| Median Household Income | $57,972 | $97,098 | $80,455 |
| Price-to-Income Ratio | 3.3 | 2.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in New Haven fell about 8.6%, while median household income rose about 42.3% 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 | New Haven | Connecticut Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 28.1% | 62.8% | 58.5% |
| Rental Rate | 62.5% | 30.3% | 31.2% |
| Vacancy Rate | 9.3% | 6.9% | 10.2% |
| Median Tenure (years) | 11.0 | 16.0 | 15.0 |
| Median Year Moved In | 2015 | 2010 | 2011 |
New Haven has a homeownership rate of 28.1%, lower than the Connecticut average of 62.8%. Its housing vacancy rate is 9.3%, compared with 6.9% in Connecticut.
Housing Stock
| Metric | New Haven | Connecticut Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.47 people | 2.53 people |
| Median Structure Built Year | 1957 | 1966 | 1978 |
| Median Number of Rooms | 4.6 | 5.7 | 5.5 |
The typical housing unit in New Haven was built around 1957. On average, 2.4 people live in a home with about 4.6 rooms, staying for about 11.0 years on average.
New Haven, CT Housing Compared With Nearby Cities
How New Haven, CT compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| New Haven, CT | 103,945 | $193,540 #1/2 | $1,480 #1/2 | 31.0% #2/2 |
| West Haven, CT | 42,344 | $146,840 | $1,423 | 49.4% |
Frequently Asked Questions
Common questions about the housing market in New Haven, Connecticut.
What is the median home price in New Haven, Connecticut?
The median home price in New Haven, Connecticut is $193,540, lower than the Connecticut average of $281,244.
What is the average home price in New Haven, Connecticut?
The typical home price in New Haven, Connecticut, reported as the median sale price, is $193,540. 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 Haven, Connecticut?
The median gross rent in New Haven, Connecticut is $1,480 per month, about the same as the Connecticut average.
What was the median gross rent in New Haven in 2020?
In 2020, the median gross rent in New Haven, Connecticut was $1,229 per month.
What is the price-to-rent ratio in New Haven, Connecticut?
The price-to-rent ratio in New Haven, Connecticut is about 10.9, meaning it would take roughly 10.9 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 New Haven.
Are home prices or rent rising faster in New Haven, Connecticut?
Both home prices and rent are rising in New Haven, up about 8.3% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in New Haven, Connecticut?
28.1% of households in New Haven, Connecticut own their home, lower than the Connecticut average of 62.8%.
What is the vacancy rate in New Haven, Connecticut?
The housing vacancy rate in New Haven, Connecticut is 9.3%, higher than the Connecticut average of 6.9%.
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