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 18,480, 8,323 total housing units (homes and apartments), and a median house value of $534,886, Stonington real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Stonington, accounting for 69.84% of the town's housing units. Other types of housing that are prevalent in Stonington include duplexes, homes converted to apartments or other small apartment buildings ( 15.76%), large apartment complexes or high rise apartments ( 8.32%), and a few row houses and other attached homes ( 3.13%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Stonington. Owner-occupied housing accounts for 70.75% of Stonington's homes, and 56.47% have either three or four bedrooms, which is average sized relative to America.
The housing in Stonington was primarily built before 1939 ( 31.58%), making the housing stock in Stonington some of the oldest overall in America, although there is a range of ages of homes in Stonington. The next most important housing age is between 1970-1999 ( 31.40%), followed by between 1940-1969 ( 22.47%). There's also some housing in Stonington built between 2000 and later ( 14.54%).
Vacant housing appears to be an issue in Stonington. Fully 13.54% of the housing stock is classified as vacant. Left unchecked, vacant Stonington homes and apartments can be a drag on the real estate market, holding Stonington real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Stonington's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.24% during the period.
NeighborhoodScout's data show that during the latest twelve months, Stonington's appreciation rate, at 6.57%, has been at or slightly above the national average. In the latest quarter, Stonington's appreciation rate has been 1.00%, which annualizes to a rate of 4.07%.
Relative to Connecticut, our data show that Stonington's latest annual appreciation rate is lower than 70% 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 town. Individual neighborhoods within Stonington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Stonington - 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 Stonington real estate investment or home purchase decisions.
$534,886
for Connecticut
for nation
8,323
$2,576 / per month