Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 15,572, 6,089 total housing units (homes and apartments), and a median house value of $454,949, Colchester real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Colchester, accounting for 76.44% of the town's housing units. Other types of housing that are prevalent in Colchester include large apartment complexes or high rise apartments ( 11.69%), duplexes, homes converted to apartments or other small apartment buildings ( 7.18%), and a few row houses and other attached homes ( 3.36%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Colchester. Owner-occupied housing accounts for 78.85% of Colchester's homes, and 65.33% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Colchester built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Colchester built between 2000 and later ( 15.70%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.91%). There's also some housing in Colchester built before 1939 ( 8.72%).
Colchester's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Colchester during the period has been just 4.94%, which is lower than 80% of US communities.
Over the last year, Colchester appreciation rates have trailed the rest of the nation. In the last twelve months, Colchester's appreciation rate has been 4.50%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Colchester were at 1.00%, which equates to an annual appreciation rate of 4.07%.
Relative to Connecticut, our data show that Colchester's latest annual appreciation rate is lower than 80% of the other cities and towns in Connecticut.
$454,949
for Connecticut
for nation
6,089
$2,186 / per month