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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



New Britain, CT Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

New Britain, CT Housing Market Trends

With 74,396 people, 28,575 houses or apartments, and a median cost of homes of $262,026, New Britain real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, New Britain homes are still considered rather expensive.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in New Britain, accounting for 37.79% of the city's housing units. Other types of housing that are prevalent in New Britain include single-family detached homes ( 30.87%), large apartment complexes or high rise apartments ( 27.40%), and a few row houses and other attached homes ( 3.60%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in New Britain primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. New Britain has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. New Britain's housing was primarily built during this period, from the '40s through the '60s. A full 41.31% of the city's housing hails from this era. Other housing ages represented in New Britain include homes built before 1939 ( 31.68%) and housing constructed between 1970-1999 ( 23.18%). There's also some housing in New Britain built between 2000 and later ( 3.83%).

New Britain Home Appreciation Rates

Appreciation rates for homes in New Britain have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 84.57%, which ranks in the top 50% nationwide. This equates to an annual average New Britain house appreciation rate of 6.32%.

Appreciation rates are so strong in New Britain that despite a nationwide downturn in the housing market, New Britain real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Britain appreciation rates continue to be some of the highest in America, at 7.81%, which is higher than appreciation rates in 83.83% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Britain. New Britain appreciation rates in the latest quarter were at 0.29%, which equates to an annual appreciation rate of 1.17%.

Relative to Connecticut, our data show that New Britain's latest annual appreciation rate is lower than 50% of the other cities and towns in Connecticut.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within New Britain differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Britain - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best New Britain real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$262,026

New Britain, CT Home Prices
> $1,372,000
$1,029,001 - $1,372,000
$686,001 - $1,029,000
$549,001 - $686,000
$411,001 - $549,000
$274,001 - $411,000
$137,001 - $274,000
$69,001 - $137,000
$0 - $69,000
0.7%
0.7%
0.3%
0.3%
0.5%
0.5%
1.1%
1.1%
5.0%
5.0%
32.3%
32.3%
52.1%
52.1%
4.8%
4.8%
3.1%
3.1%
0% 100.0%
% of Homes
Very Low

for Connecticut

Average

for nation

Number of Homes And Apartments:

28,575

New Britain Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,840 / per month

Homeownership Rate

Owners
Renters
39.6%
39.6%
60.4%
60.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.0%
10.0%
90.0%
90.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.8%
3.8%
23.2%
23.2%
41.3%
41.3%
31.7%
31.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
30.9%
30.9%
3.6%
3.6%
37.8%
37.8%
27.4%
27.4%
0.1%
0.1%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.0%
4.0%
15.2%
15.2%
36.7%
36.7%
34.5%
34.5%
7.6%
7.6%
2.0%
2.0%
0% 100.0%
% of Homes