Manchester, CT—06042
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 $308,000, with a year-over-year change of 2.6%. This indicates that home prices in Manchester, CT are increasing. According to Zillow, the 1-year price projection is 3.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $308,000 | 2.6% |
| Single Family | $319,000 | 1.9% |
| Condos | $252,000 | 6.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $169,000 | 14.2% |
2 Bed | $260,000 | 6.6% |
3 Bed | $317,000 | 2.3% |
4 Bed | $373,000 | 2.5% |
| 5 Bed | $409,000 | 1.2% |
% of Housing Stock
Rental Trends — Manchester, CT
As of July '25, Rentcast reports the average rent in Manchester, CT is $2,130, with a year-over-year rent change of -18.1%. Per bedroom, the median rent as of July '25 in Manchester, CT is studios: $1,930, 1-bedrooms: $1,880, 2-bedrooms: $2,040, 3-bedrooms: $2,560, 4-bedrooms: $2,400. The most common rental property sizes in Manchester, CT are 2-bedroom and 1-bedroom, accounting for 59.5% and 21.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,130 |
| Studio Rent | $1,770 | $1,930 |
| 1 Bed Rent | $1,700 | $1,880 |
| 2 Bed Rent | $2,100 | $2,040 |
| 3 Bed Rent | $2,500 | $2,560 |
| 4 Bed Rent | $2,400 | $2,400 |
% 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 31. This is a increase of 106.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $329,000 | 11.0% |
Listing Count | 59 | -5.0% |
| Listings as % of Homes | 0.3% | -5.0% |
Days on Market | 31 | 106.0% |
Demographics — Manchester, CT
As of the latest ACS Survey released in 2023, Manchester, CT has a population of 23,300, which has remained stable by -0.2% over the past 5 years. Manchester, CT is a moderately popular place for families, as children make up 18.6% of the population. The area has a moderately educated workforce, with 44.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,300 | -0.2% |
% Under 18 | 18.6% | -4.1% |
% Seniors | 15.7% | 14.6% |
% WFH | 14.5% | 625.0% |
% w/ College Degree | 44.9% | 1.8% |
As of the latest ACS Survey released in 2023, Manchester, CT is a predominantly white area, with 56.0% of the population identifying as white. The white population has shrunk by 1.1% in the last 5 years. The second most common race or ethnicity in Manchester, CT is black, making up 14.1% of the population. Foreign-born residents account for 19.6% of the population in Manchester, CT, and this percentage has decreased by 8.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 56.0% | -1.1% |
% Black | 14.1% | 29.4% |
% Hispanic | 12.9% | 12.2% |
% Asian | 13.9% | -18.7% |
% Foreign Born | 19.6% | -8.4% |
Mortgage and Risk — Manchester, CT
According to HUD data as of 2023, there were 450 mortgage originations in Manchester, CT, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Manchester, CT. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 450 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Manchester, CT
As of 2024, the percent of homes in Manchester, CT under the Section 8 program is 9.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Manchester, CT, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 544 |
Total Units Section 8 | 452 |
% Rentals under Section 8 | 9.0% |
% Occupied Section 8 | 90.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,700 | $1,640 |
| 2 Bedroom | -$20 | $2,100 | $2,080 |
| 3 Bedroom | $10 | $2,500 | $2,510 |
| 4 Bedroom | $570 | $2,400 | $2,970 |
Affordability — Manchester, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $308,000 |
| Median Household Income | $89,100 |