The housing market in Norwich, CT is thriving. The median value of houses in Norwich is $215,000, significantly lower than the US house median value of $338,100. Yet despite this difference in cost, the 1 year appreciation rate of housing in Norwich is 11.43%, higher than the US average of 8.27%. This increase in values suggests that Norwich is an attractive place to purchase a home and can offer buyers a great return on their investment.
The median home cost in Norwich is $215,000. Home appreciation the last 10 years has been 58.4%. Home Appreciation in Norwich is up 13.4%.
Average Age of Homes
- The median age of Norwich real estate is 63 years old
The Rental Market in Norwich
- Renters make up 42.8% of the Norwich population
- 2.9% of houses and apartments in Norwich, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.