Montville, 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

Montville, CT Housing Market Trends

With a population of 18,508, 6,997 total housing units (homes and apartments), and a median house value of $279,716, Montville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Montville, accounting for 81.15% of the town's housing units. Other types of housing that are prevalent in Montville include mobile homes or trailers ( 6.67%), duplexes, homes converted to apartments or other small apartment buildings ( 5.82%), and a few large apartment complexes or high rise apartments ( 4.96%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Montville. Owner-occupied housing accounts for 74.20% of Montville's homes, and 62.65% 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. Montville's housing was primarily built during this period, from the '40s through the '60s. A full 40.52% of the town's housing hails from this era. Other housing ages represented in Montville include homes built between 1970-1999 ( 35.28%) and housing constructed between 2000 and later ( 13.48%). There's also some housing in Montville built before 1939 ( 10.72%).

Vacant housing appears to be an issue in Montville. Fully 10.08% of the housing stock is classified as vacant. Left unchecked, vacant Montville homes and apartments can be a drag on the real estate market, holding Montville 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.

Montville Home Appreciation Rates

Montville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Montville during the period has been just 2.41%, which is lower than 70% of US communities.

Appreciation rates are so strong in Montville that despite a nationwide downturn in the housing market, Montville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Montville appreciation rates continue to be some of the highest in America, at 15.35%, which is higher than appreciation rates in 96.16% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Montville. Montville appreciation rates in the latest quarter were at 5.60%, which equates to an annual appreciation rate of 24.35%.

Importantly, this makes Montville one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Connecticut, our data show that Montville's latest annual appreciation rate is higher than 80% of the other cities and towns in Connecticut.

Average Home Values

 

Median Home Value:
$279,716

Montville, CT HOME PRICES

> $1,301,000
0.4%
0.4%
$976,001 - $1,301,000
0.1%
0.1%
$651,001 - $976,000
0.6%
0.6%
$520,001 - $651,000
1.6%
1.6%
$390,001 - $520,000
13.1%
13.1%
$260,001 - $390,000
32.6%
32.6%
$130,001 - $260,000
39.5%
39.5%
$65,001 - $130,000
4.0%
4.0%
$0 - $65,000
8.3%
8.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for CT

Value Relative To Nation

Number Of Homes And Apartments:
6,997

Montville 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
66.12% 2.39%
8
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,549 / per month

Homeownership Rate

Owners
74.2%
74.2%
Renters
25.8%
25.8%
Vacant
10.1%
10.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
13.5%
13.5%
1970 - 1999
35.3%
35.3%
1940 - 1969
40.5%
40.5%
1939 or Older
10.7%
10.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
81.1%
81.1%
Townhomes
1.4%
1.4%
Small Apt. Buildings
5.8%
5.8%
Apt. Complexes
5.0%
5.0%
Mobile Homes
6.7%
6.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
6.5%
6.5%
2 Bedrooms
27.9%
27.9%
3 Bedrooms
41.6%
41.6%
4 Bedrooms
21.1%
21.1%
5 or more bedrooms
2.7%
2.7%
0.0% 100.0%
% OF HOMES