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 14,577 people, 5,319 houses or apartments, and a median cost of homes of $490,371, Tolland real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Tolland, accounting for 92.11% of the town's housing units. Other types of housing that are prevalent in Tolland include duplexes, homes converted to apartments or other small apartment buildings ( 3.57%), large apartment complexes or high rise apartments ( 3.18%), and a few row houses and other attached homes ( 1.13%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Tolland. Owner-occupied housing accounts for 92.16% of Tolland's homes, and 82.30% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Tolland 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 Tolland built between 1940-1969 ( 26.03%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.51%). There's also some housing in Tolland built before 1939 ( 4.33%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Tolland, where house values have increased just 53.40%, which is annualized rate of 4.37%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Tolland that despite a nationwide downturn in the housing market, Tolland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tolland appreciation rates continue to be some of the highest in America, at 8.35%, which is higher than appreciation rates in 73.88% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tolland. Tolland appreciation rates in the latest quarter were at 2.73%, which equates to an annual appreciation rate of 11.36%.
Relative to Connecticut, our data show that Tolland's latest annual appreciation rate is lower than 50% of the other cities and towns in Connecticut.
$490,371
for Connecticut
for nation
5,319
$2,505 / per month