Andover, CT—06232
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Andover, CT
As of Oct '25, the median home price in Andover, CT is $394,000, with a year-over-year change of 3.1%. This indicates that home prices in Andover, CT are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $394,000 | 3.1% |
| Single Family | $394,000 | 2.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $300,000 | 2.4% |
3 Bed | $395,000 | 3.1% |
4 Bed | $464,000 | 3.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Andover, CT
Andover, CT lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,200 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,200 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Andover, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Andover, CT is 176. This is a increase of 158.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $496,000 | 18.0% |
Listing Count | 8 | -7.0% |
| Listings as % of Homes | 0.7% | -7.0% |
Days on Market | 176 | 158.0% |
Demographics — Andover, CT
As of the latest ACS Survey released in 2023, Andover, CT has a population of 3,150, which has decreased by -2.3% over the past 5 years. Andover, CT is a moderately popular place for families, as children make up 15.2% of the population. The area has a highly educated workforce, with 46.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,150 | -2.3% |
% Under 18 | 15.2% | -22.1% |
% Seniors | 20.7% | 64.3% |
% WFH | 12.8% | 287.9% |
% w/ College Degree | 46.3% | 15.7% |
As of the latest ACS Survey released in 2023, Andover, CT is a predominantly white area, with 94.2% of the population identifying as white. The white population has grown by 1.0% in the last 5 years. The second most common race or ethnicity in Andover, CT is asian, making up 1.8% of the population. Foreign-born residents account for 5.1% of the population in Andover, CT, and this percentage has increased by 104.0% 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 | 94.2% | 1.0% |
% Black | 0.5% | -80.0% |
% Hispanic | 0.6% | -81.8% |
% Asian | 1.8% | ∞% |
% Foreign Born | 5.1% | 104.0% |
Mortgage and Risk — Andover, CT
According to HUD data as of 2023, there were 78 mortgage originations in Andover, CT, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 45.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Andover, CT. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 78 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Andover, CT
Andover, CT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 20 |
Total Units Section 8 | 20 |
% Rentals under Section 8 | 28.2% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$250 | $1,200 | $950 |
| 2 Bedroom | N/A | N/A | $1,200 |
| 3 Bedroom | N/A | N/A | $1,450 |
| 4 Bedroom | N/A | N/A | $1,720 |
Affordability — Andover, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $394,000 |
| Median Household Income | $127,000 |