Manchester, CT—06040
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Manchester, CT
Home Price Trends — Manchester, CT
As of Oct '25, the median home price in Manchester, CT is $326,000, with a year-over-year change of 2.7%. This indicates that home prices in Manchester, CT are increasing. According to Zillow, the 1-year price projection is 3.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $326,000 | 2.7% |
| Single Family | $342,000 | 2.4% |
| Condos | $153,000 | 5.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $120,000 | 2.6% |
2 Bed | $241,000 | 4.8% |
3 Bed | $328,000 | 2.5% |
4 Bed | $439,000 | 3.1% |
| 5 Bed | $490,000 | 3.2% |
% of Housing Stock
Rental Trends — Manchester, CT
As of July '25, Rentcast reports the average rent in Manchester, CT is $1,920, with a year-over-year rent change of 14.3%. Per bedroom, the median rent as of July '25 in Manchester, CT is studios: $600, 1-bedrooms: $1,470, 2-bedrooms: $1,890, 3-bedrooms: $2,380, 4-bedrooms: $2,900. The most common rental property sizes in Manchester, CT are 2-bedroom and 1-bedroom, accounting for 41.0% and 30.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,920 |
| Studio Rent | $600 | $600 |
| 1 Bed Rent | $1,500 | $1,470 |
| 2 Bed Rent | $1,800 | $1,890 |
| 3 Bed Rent | $2,200 | $2,380 |
| 4 Bed Rent | $2,650 | $2,900 |
% of Rental Stock
Property Listings — Manchester, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Manchester, CT is 37. This is a decrease of -22.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $350,000 | -6.0% |
Listing Count | 82 | 10.0% |
| Listings as % of Homes | 0.3% | 10.0% |
Days on Market | 37 | -22.0% |
Demographics — Manchester, CT
As of the latest ACS Survey released in 2023, Manchester, CT has a population of 36,200, which has increased by 4.5% over the past 5 years. Manchester, CT is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 36.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,200 | 4.5% |
% Under 18 | 21.6% | -1.4% |
% Seniors | 15.1% | 0.7% |
% WFH | 12.3% | 339.3% |
% w/ College Degree | 36.0% | -0.6% |
As of the latest ACS Survey released in 2023, Manchester, CT is a predominantly white area, with 53.4% of the population identifying as white. The white population has shrunk by 7.3% in the last 5 years. The second most common race or ethnicity in Manchester, CT is hispanic, making up 17.9% of the population. Foreign-born residents account for 14.6% of the population in Manchester, CT, and this percentage has increased by 2.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 53.4% | -7.3% |
% Black | 17.3% | -0.6% |
% Hispanic | 17.9% | 26.1% |
% Asian | 8.9% | 4.7% |
% Foreign Born | 14.6% | 2.1% |
Mortgage and Risk — Manchester, CT
According to HUD data as of 2023, there were 493 mortgage originations in Manchester, CT, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Manchester, CT. Investor activity is low, as 3.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 493 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Manchester, CT
As of 2024, the percent of homes in Manchester, CT under the Section 8 program is 15.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Manchester, CT, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1,290 |
Total Units Section 8 | 1,052 |
% Rentals under Section 8 | 15.3% |
% Occupied Section 8 | 91.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$250 | $1,500 | $1,250 |
| 2 Bedroom | -$220 | $1,800 | $1,580 |
| 3 Bedroom | -$300 | $2,200 | $1,900 |
| 4 Bedroom | -$390 | $2,650 | $2,260 |
Affordability — Manchester, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $326,000 |
| Median Household Income | $84,700 |