Groton, CT 06340 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Groton, CT—06340

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$384,000

4.3% YoY Growth

Household Income

$77,800

25.5% YoY Growth

Days on Market

28.0% Longer YoY

Home Price Forecast

2.6%

Median Rent

$2,100

3.0% YoY Growth

1-Bed Rent

$1,620

N/A

2-Bed Rent

$2,100

N/A

3-Bed Rent

$2,750

44.8% YoY Growth

Other Zip Codes in Groton, CT

06355

Home Price Trends — Groton, CT

As of May '26, the median home price in Groton, CT is $384,000, with a year-over-year change of 4.3%. This indicates that home prices in Groton, CT are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$384,000	4.3%
Single Family	$426,000	4.7%
Condos	$255,000	7.1%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Groton, CT

As of July '25, Rentcast reports the average rent in Groton, CT is $2,370, with a year-over-year rent change of 3.0%. Per bedroom, the median rent as of July '25 in Groton, CT is studios: $1,960, 1-bedrooms: $1,680, 2-bedrooms: $2,200, 3-bedrooms: $3,330, 4-bedrooms: $3,410. The most common rental property sizes in Groton, CT are 2-bedroom and 1-bedroom, accounting for 48.3% and 25.6% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,100	$2,370
Studio Rent	$1,000	$1,960
1 Bed Rent	$1,620	$1,680
2 Bed Rent	$2,100	$2,200
3 Bed Rent	$2,750	$3,330
4 Bed Rent	$3,200	$3,410

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% of Rental Stock

Studio

2.6%

1 Bedroom

25.6%

2 Bedrooms

48.3%

3 Bedrooms

18.9%

4 Bedrooms

3.6%

5+ Bedrooms

1.0%

Property Listings — Groton, CT

As of May '26, Realtor.com reports that the median days on market for a home in Groton, CT is 26. This is a increase of 28.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$699,000	48.0%
Listing Count	43	2.0%
Listings as % of Homes	0.3%	2.0%
Days on Market	26	28.0%

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Demographics — Groton, CT

As of the latest ACS Survey released in 2023, Groton, CT has a population of 29,800, which has decreased by -3.0% over the past 5 years. Groton, CT is a moderately popular place for families, as children make up 18.9% of the population. The area has a moderately educated workforce, with 38.1% 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	29,800	-3.0%
% Under 18	18.9%	-6.0%
% Seniors	16.5%	37.5%
% WFH	12.3%	59.7%
% w/ College Degree	38.1%	26.6%

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As of the latest ACS Survey released in 2023, Groton, CT is a predominantly white area, with 65.9% of the population identifying as white. The white population has grown by 0.8% in the last 5 years. The second most common race or ethnicity in Groton, CT is hispanic, making up 14.6% of the population. Foreign-born residents account for 9.3% of the population in Groton, CT, and this percentage has increased by 2.2% 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	65.9%	0.8%
% Black	6.2%	-28.7%
% Hispanic	14.6%	-6.4%
% Asian	6.8%	17.2%
% Foreign Born	9.3%	2.2%

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Mortgage and Risk — Groton, CT

According to HUD data as of 2023, there were 357 mortgage originations in Groton, CT, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Groton, CT. Investor activity is low, as 3.0% 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	357
% Conventional Loans	84.0%
% Government Loans	16.0%
% Investor Loans	3.0%
% Second Loans	5.0%
% Cash Out Refinance	12.0%

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Rentals and Section 8 — Groton, CT

As of 2024, the percent of homes in Groton, CT under the Section 8 program is 9.7%. 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. In Groton, 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	758
Total Units Section 8	718
% Rentals under Section 8	9.7%
% Occupied Section 8	93.7%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$240	$1,620	$1,380
2 Bedroom	-$410	$2,100	$1,690
3 Bedroom	-$560	$2,750	$2,190
4 Bedroom	-$370	$3,200	$2,830

Groton, CT—06340

Key Metrics at a Glance

Other Zip Codes in Groton, CT

Home Price Trends — Groton, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Groton, CT

% of Rental Stock

Property Listings — Groton, CT

Demographics — Groton, CT

Race and Ethnicity

Mortgage and Risk — Groton, CT

Mortgages

Rentals and Section 8 — Groton, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Groton, CT

Home Price to Income Ratio

Groton, CT — ZIP Code Boundary Map

Nearby ZIP Codes

New London, CT

Groton, CT

Ledyard, CT

Waterford, CT

Ledyard, CT

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4
Median Home Price	$384,000
Median Household Income	$77,800

Groton, CT—06340

Key Metrics at a Glance

Other Zip Codes in Groton, CT

Home Price Trends — Groton, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Groton, CT

% of Rental Stock

Property Listings — Groton, CT

Demographics — Groton, CT

Race and Ethnicity

Mortgage and Risk — Groton, CT

Mortgages

Rentals and Section 8 — Groton, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Groton, CT

Home Price to Income Ratio

Groton, CT — ZIP Code Boundary Map

Nearby ZIP Codes

New London, CT

Groton, CT

Ledyard, CT

Waterford, CT

Ledyard, CT

Frequently Asked Questions

What is the average home price in Groton, CT 06340?

How have home prices in Groton, CT 06340 changed over the past year?

What is the home price projection for Groton, CT 06340?

What are the demographics of Groton, CT 06340?

How long does it take homes to sell in Groton, CT 06340?

What is the average rent price in Groton, CT 06340?