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 7,468, 2,984 total housing units (homes and apartments), and a median house value of $377,354, Thomaston real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Thomaston, accounting for 70.54% of the town's housing units. Other types of housing that are prevalent in Thomaston include large apartment complexes or high rise apartments ( 16.97%), duplexes, homes converted to apartments or other small apartment buildings ( 8.95%), and a few row houses and other attached homes ( 2.19%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Thomaston. Owner-occupied housing accounts for 79.29% of Thomaston's homes, and 60.99% have either three or four bedrooms, which is average sized relative to America.
The housing in Thomaston was primarily built before 1939 ( 29.16%), making the housing stock in Thomaston some of the oldest overall in America, although there is a range of ages of homes in Thomaston. The next most important housing age is between 1970-1999 ( 28.47%), followed by between 1940-1969 ( 27.54%). There's also some housing in Thomaston built between 2000 and later ( 14.83%).
Vacant housing appears to be an issue in Thomaston. Fully 10.39% of the housing stock is classified as vacant. Left unchecked, vacant Thomaston homes and apartments can be a drag on the real estate market, holding Thomaston 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.
Appreciation rates for homes in Thomaston have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 88.51%, which ranks in the top 50% nationwide. This equates to an annual average Thomaston house appreciation rate of 6.54%.
Appreciation rates are so strong in Thomaston that despite a nationwide downturn in the housing market, Thomaston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Thomaston appreciation rates continue to be some of the highest in America, at 13.45%, which is higher than appreciation rates in 96.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Thomaston. Thomaston appreciation rates in the latest quarter were at -0.51%, which equates to an annual appreciation rate of -2.02%.
Notably, Thomaston's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Connecticut, our data show that Thomaston's latest annual appreciation rate is higher than 90% of the other cities and towns in Connecticut.
$377,354
$1,860 / per month