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 59,461 people, 24,900 houses or apartments, and a median cost of homes of $312,035, Manchester real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Manchester homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Manchester, accounting for 46.88% of the town's housing units. Other types of housing that are prevalent in Manchester include large apartment complexes or high rise apartments ( 27.01%), duplexes, homes converted to apartments or other small apartment buildings ( 18.44%), and a few row houses and other attached homes ( 7.68%).
People in Manchester primarily live in small (one, two or no bedroom) single-family detached homes. Manchester 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. Manchester's housing was primarily built during this period, from the '40s through the '60s. A full 38.48% of the town's housing hails from this era. Other housing ages represented in Manchester include homes built between 1970-1999 ( 33.09%) and housing constructed before 1939 ( 19.31%). There's also some housing in Manchester built between 2000 and later ( 9.12%).
Real estate appreciation rates in Manchester's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.79% during the period.
Appreciation rates are so strong in Manchester that despite a nationwide downturn in the housing market, Manchester real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Manchester appreciation rates continue to be some of the highest in America, at 9.54%, which is higher than appreciation rates in 84.70% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Manchester. Manchester 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 Manchester's latest annual appreciation rate is higher than 60% 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 Manchester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Manchester - 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 Manchester real estate investment or home purchase decisions.
$312,035
for Connecticut
for nation
24,900
$2,322 / per month