Norwich, Connecticut Housing Market Prices
Norwich 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.
-
Median home price 21% below the Connecticut median$221,748
-
Median rent 14% below the Connecticut median$1,268
Housing Market Overview
| Metric | Norwich | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,748 | $281,244 | $248,835 |
| Price Trend (Annual %) | 6.7% | 3.6% | 7.5% |
| Median Gross Rent | $1,268 | $1,481 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Norwich is about 21% lower than in Connecticut. Rent is about 14% 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 Norwich, up about 6.7% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Norwich rose about 34.8% between 2015 and 2024, from $941 to $1,268. Over the same span, rent in Connecticut rose about 36.7%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Norwich.
Buying the median-priced home in Norwich costs roughly 14.6 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 Norwich. The price-to-rent ratio in Connecticut is about 15.8.
| Metric | Norwich | Connecticut Avg | US Average |
|---|---|---|---|
| Median Home Price | $221,748 | $281,244 | $248,835 |
| Median Household Income | $71,032 | $97,098 | $80,455 |
| Price-to-Income Ratio | 3.1 | 2.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Norwich rose about 57.6%, while median household income rose about 34.1% 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 | Norwich | Connecticut Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.5% | 62.8% | 58.5% |
| Rental Rate | 39.5% | 30.3% | 31.2% |
| Vacancy Rate | 10.0% | 6.9% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Norwich has a homeownership rate of 50.5%, lower than the Connecticut average of 62.8%. Its housing vacancy rate is 10.0%, compared with 6.9% in Connecticut.
Housing Stock
| Metric | Norwich | Connecticut Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.47 people | 2.53 people |
| Median Structure Built Year | 1956 | 1966 | 1978 |
| Median Number of Rooms | 5.2 | 5.7 | 5.5 |
The typical housing unit in Norwich was built around 1956. On average, 2.3 people live in a home with about 5.2 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Norwich, Connecticut.
What is the median home price in Norwich, Connecticut?
The median home price in Norwich, Connecticut is $221,748, lower than the Connecticut average of $281,244.
What is the average home price in Norwich, Connecticut?
The typical home price in Norwich, Connecticut, reported as the median sale price, is $221,748. 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 Norwich, Connecticut?
The median gross rent in Norwich, Connecticut is $1,268 per month, lower than the Connecticut average of $1,481.
What was the median gross rent in Norwich in 2020?
In 2020, the median gross rent in Norwich, Connecticut was $1,046 per month.
What is the price-to-rent ratio in Norwich, Connecticut?
The price-to-rent ratio in Norwich, Connecticut is about 14.6, meaning it would take roughly 14.6 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 Norwich.
Are home prices or rent rising faster in Norwich, Connecticut?
Both home prices and rent are rising in Norwich, up about 6.7% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Norwich, Connecticut?
50.5% of households in Norwich, Connecticut own their home, lower than the Connecticut average of 62.8%.
What is the vacancy rate in Norwich, Connecticut?
The housing vacancy rate in Norwich, Connecticut is 10.0%, higher than the Connecticut average of 6.9%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →