Norwich, CT—06360
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Norwich, CT
Home Price Trends — Norwich, CT
As of Oct '25, the median home price in Norwich, CT is $287,000, with a year-over-year change of 9.3%. This indicates that home prices in Norwich, CT are increasing. According to Zillow, the 1-year price projection is 3.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $287,000 | 9.3% |
| Single Family | $298,000 | 8.8% |
| Condos | $230,000 | 10.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $176,000 | 7.3% |
2 Bed | $253,000 | 10.5% |
3 Bed | $304,000 | 9.0% |
4 Bed | $336,000 | 8.7% |
| 5 Bed | $341,000 | 7.9% |
% of Housing Stock
Rental Trends — Norwich, CT
As of July '25, Rentcast reports the average rent in Norwich, CT is $1,850, with a year-over-year rent change of -9.8%. Per bedroom, the median rent as of July '25 in Norwich, CT is 1-bedrooms: $1,230, 2-bedrooms: $1,920, 3-bedrooms: $2,070, 4-bedrooms: $2,330. The most common rental property sizes in Norwich, CT are 1-bedroom and 2-bedroom, accounting for 34.8% and 32.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,880 | $1,850 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,300 | $1,230 |
| 2 Bed Rent | $1,900 | $1,920 |
| 3 Bed Rent | $2,000 | $2,070 |
| 4 Bed Rent | $2,450 | $2,330 |
% of Rental Stock
Property Listings — Norwich, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Norwich, CT is 35. This is a increase of 17.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $290,000 | 3.0% |
Listing Count | 119 | -5.0% |
| Listings as % of Homes | 0.5% | -5.0% |
Days on Market | 35 | 17.0% |
Demographics — Norwich, CT
As of the latest ACS Survey released in 2023, Norwich, CT has a population of 37,500, which has increased by 2.4% over the past 5 years. Norwich, CT is a moderately popular place for families, as children make up 21.1% of the population. The area has a poorly educated workforce, with 22.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,500 | 2.4% |
% Under 18 | 21.1% | -1.9% |
% Seniors | 17.7% | 8.6% |
% WFH | 6.8% | 385.7% |
% w/ College Degree | 22.6% | 3.7% |
As of the latest ACS Survey released in 2023, Norwich, CT is a predominantly white area, with 55.8% 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 Norwich, CT is hispanic, making up 20.9% of the population. Foreign-born residents account for 14.9% of the population in Norwich, CT, and this percentage has increased by 0.7% 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 | 55.8% | -7.3% |
% Black | 11.5% | 3.6% |
% Hispanic | 20.9% | 44.1% |
% Asian | 6.8% | -26.9% |
% Foreign Born | 14.9% | 0.7% |
Mortgage and Risk — Norwich, CT
According to HUD data as of 2023, there were 628 mortgage originations in Norwich, CT, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Norwich, CT. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 628 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Norwich, CT
As of 2024, the percent of homes in Norwich, CT under the Section 8 program is 15.1%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Norwich, CT, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,308 |
Total Units Section 8 | 1,044 |
% Rentals under Section 8 | 15.1% |
% Occupied Section 8 | 91.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$80 | $1,300 | $1,220 |
| 2 Bedroom | -$400 | $1,900 | $1,500 |
| 3 Bedroom | -$60 | $2,000 | $1,940 |
| 4 Bedroom | $60 | $2,450 | $2,510 |
Affordability — Norwich, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $287,000 |
| Median Household Income | $65,800 |