Bloomfield, CT Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bloomfield, CT Housing Market Trends

With 21,211 people, 8,727 houses or apartments, and a median cost of homes of $229,272, Bloomfield real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Bloomfield homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Bloomfield, accounting for 67.54% of the town's housing units. Other types of housing that are prevalent in Bloomfield include large apartment complexes or high rise apartments ( 16.58%), duplexes, homes converted to apartments or other small apartment buildings ( 9.65%), and a few row houses and other attached homes ( 5.69%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bloomfield. Owner-occupied housing accounts for 69.40% of Bloomfield's homes, and 62.05% have either three or four bedrooms, which is average sized relative to America.

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. Bloomfield's housing was primarily built during this period, from the '40s through the '60s. A full 46.42% of the town's housing hails from this era. Other housing ages represented in Bloomfield include homes built between 1970-1999 ( 37.75%) and housing constructed between 2000 and later ( 10.43%). There's also some housing in Bloomfield built before 1939 ( 5.40%).

Bloomfield Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Bloomfield, where house values have increased just 17.83%, which is annualized rate of 1.65%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Bloomfield's appreciation rate, at 9.21%, has been at or slightly above the national average. In the latest quarter, Bloomfield's appreciation rate has been 3.28%, which annualizes to a rate of 13.77%.

Relative to Connecticut, our data show that Bloomfield's latest annual appreciation rate is lower than 80% 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 Bloomfield differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bloomfield - 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 Bloomfield real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$229,272

Bloomfield, CT HOME PRICES

> $1,211,000
0.5%
0.5%
$908,001 - $1,211,000
0.3%
0.3%
$605,001 - $908,000
1.9%
1.9%
$484,001 - $605,000
6.5%
6.5%
$363,001 - $484,000
10.4%
10.4%
$243,001 - $363,000
34.1%
34.1%
$121,001 - $243,000
39.8%
39.8%
$60,001 - $121,000
4.9%
4.9%
$0 - $60,000
1.7%
1.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very Low for CT

Value Relative To Nation

Number Of Homes And Apartments:
8,727

Bloomfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
56.35% 2.10%
5
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,052 / per month

Homeownership Rate

Owners
69.4%
69.4%
Renters
30.6%
30.6%
Vacant
6.2%
6.2%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.4%
10.4%
1970 - 1999
37.8%
37.8%
1940 - 1969
46.4%
46.4%
1939 or Older
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
67.5%
67.5%
Townhomes
5.7%
5.7%
Small Apt. Buildings
9.6%
9.6%
Apt. Complexes
16.6%
16.6%
Mobile Homes
0.5%
0.5%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.3%
1.3%
1 Bedroom
11.5%
11.5%
2 Bedrooms
22.2%
22.2%
3 Bedrooms
44.3%
44.3%
4 Bedrooms
17.8%
17.8%
5 or more bedrooms
2.9%
2.9%
0.0% 100.0%
% OF HOMES